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Pivot Alert

Are you tired of missing trades at forex pivot entry points? Pivot Alert MT4 Indicator alerts if price crosses the pivot level, resistance or support level. Best indicator for forex pivot traders.

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Description

The Pivot Alert MT4 indicator automatically calculates the pivot levels and three resistance and support levels. It provides alerts if the price crosses the pivot or any support or resistance levels. As a result, it enables forex pivot traders to potentially enter the traders at the best possible time.

Features of Pivot Alert MT4 Indicator

The indicator plots the pivot level in blue line. It plots a green dotted line for R1, R2 and R3. Similarly, it plots pink dotted line for S1, S2 and S3. The purpose of the indicator is to alert the traders upon price crossing over.

The input settings are robust and enable traders to receive alerts individually for the Pivot, S1, S2, S3, R1, R2, and R3.This is the main feature that differentiates this indicator from other pivot indicators.

Price above the pivot level indicates a bullish trend, while below the pivot is a bearish market trend. So, traders can open a buy trade once price crosses above the pivot with a stop at S1 and book profits at R1, R2 or R3. A similar, trading strategy works in the bearish direction with a sell position.

Benefits of Pivot Alert MT4 Indicator

It is common for forex traders to miss entry points. The main benefit of this indicator is the timely price cross alert. Thus enabling traders to enter the market or perform technical analysis at the best possible time.

Since traders can receive the alerts for individual support or resistance they can enable alerts for stop loss or take profit levels. Additionally, traders can trail an open trade using the price cross alerts.

Indicator Settings Description

AlertsOn: Enables alerts.

PivotLineCrossAlert:, R1LineCrossAlert:, R2LineCrossAlert:, R3LineCrossAlert:, S1LineCrossAlert:, S2LineCrossAlert:, S3LineCrossAlert: Enables specific alerts.

PivotColor:, R1Color:, R2Color:, R3Color:, S1Color:, S2Color:, S3Color: Color settings.

PivotWidth:, R1Width:, R2Width:, R3Width:, S1Width:, S2Width:, S3Width: Line width.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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