The WATL (Weekly Average True Range Levels) is a useful forex indicator that is popular among traders for its accuracy in determining market volatility. This indicator is available for free on the MT4 platform and is open source, making it easily accessible to all traders. The WATL indicator calculates the average true range based on a specified period, typically weekly, and displays upper and lower levels on the chart. These levels act as support and resistance zones, helping traders identify potential entry and exit points for trades. To use the WATL indicator, simply add it to your chart and adjust the period settings to your preference. Traders can then monitor the price action in relation to the levels generated by the indicator to make informed trading decisions. Overall, the WATL indicator is a valuable tool for forex traders looking to gauge market volatility and make more informed trading choices.
MT4
Watl Open Source
WATL (Open Source Indicator) is a useful forex indicator for MT4 that is popular among traders for its accuracy and reliability. This free indicator uses open source data to plot lines on the chart, helping traders identify support and resistance levels. WATL is easy to use and can be a valuable tool for both beginner and experienced forex traders.
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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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