The Pivot Point Universal Indicator MT5 is a free and popular Forex indicator that is useful for traders looking for an easy way to determine key support and resistance levels. This indicator uses the traditional formula for calculating the pivot point and then plots the levels directly on the chart, making it easy to identify potential entry and exit points. The Pivot Point Universal Indicator MT5 is based on the classic formula for calculating the daily pivot point. This formula takes the high, low, and close values of the previous day and then calculates the pivot point for the current day. The indicator then plots the pivot point, as well as three support levels (S1, S2, and S3) and three resistance levels (R1, R2, and R3). Traders can use these levels to identify potential entry and exit points for their trades. It also allows traders to easily identify potential entry and exit points, making it a useful tool for both short-term and long-term traders. It is free to download and can be used with the MT5 trading platform.
Pivot Point Universal
The Pivot Point Universal Indicator MT5 is a popular and free Forex indicator that can be used to help traders make more informed decisions. It is a powerful tool that can help traders analyze the market and identify potential entry and exit points. The indicator uses pivot points to measure market movements and identify potential buying and selling opportunities. It can also be used in combination with other indicators to further increase the accuracy of trading decisions.
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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.