The Level Trading 123 Indicator is a popular and free Forex indicator that is used by traders on the MetaTrader 4 (MT4) platform. This useful tool helps traders identify potential entry and exit points in the market by providing visual cues on when to buy and sell. The Level Trading 123 Indicator is based on the principle of support and resistance levels, which are the areas where the price of a currency pair is likely to reverse direction. By recognizing these areas, traders can use the indicator to make better trading decisions. The Level Trading 123 Indicator works by plotting horizontal lines at the support and resistance levels. The indicator also plots arrows to indicate potential entry points. A buy arrow is displayed when the price is in an uptrend, while a sell arrow is displayed when the price is in a downtrend. This makes it easy for traders to identify the trend direction and set entry and exit points.
MT4
Level Trading 123
The Level Trading 123 Indicator is a popular, free and useful Forex indicator for MetaTrader 4 (MT4) trading platform. The indicator works by analyzing the price action of the market and displaying buy and sell signals in the form of arrows on the chart. The signals are generated based on the support and resistance levels of the market, which helps traders to identify potential entry and exit points. The indicator also includes features such as a trailing stop loss, which helps to protect the trader’s capital, and a dynamic take profit level, which helps to maximize the trader’s profits. It is a great tool for traders looking to take advantage of the forex market’s volatility and make profitable trades.
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Description
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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