The Weekly Pivot Only Indicator is a popular and free forex indicator for MT4 (MetaTrader 4) that is useful for traders of all levels. This indicator is designed to help identify support and resistance levels for the current week. It does this by calculating the previous week’s range and then plotting the pivot points on the chart. This helps traders to identify where the price may reverse and potentially generate a trading opportunity. The Weekly Pivot Only Indicator is easy to install and use. All you need to do is download the indicator from the website and attach it to your MT4 chart. Once attached, the indicator will automatically calculate the previous week’s range and plot the pivot points on the chart. Overall, the Weekly Pivot Only Indicator is a useful and popular forex indicator for MT4 that can help traders identify potential trading opportunities. It is easy to install and use, and can be a great addition to any trader’s toolkit.
MT4
Weekly Pivot Only
The Weekly Pivot Only indicator for MT4 is a popular and useful free Forex indicator. The indicator works by plotting lines which represent the weekly pivot points on the chart. With this indicator, traders can easily identify the support and resistance levels of a currency pair and make more informed trading decisions.
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Category: Support & Resistance
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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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