The Williams R indicator is one of the most popular and useful Forex indicators available. It is a momentum indicator that measures overbought and oversold levels in the market. It is a free indicator that is available for the MT4 platform, and it is easy to use. The Williams R indicator is based on the closing price of a currency pair relative to its high and low over a period of time. It is used to identify when a currency pair is becoming overbought or oversold. When the indicator is above -20, it is considered overbought, and when it is below -80, it is considered oversold. The Williams R indicator is a great tool for traders to use in order to identify potential entry and exit points. When the indicator is above -20, it is a signal to traders that the currency pair may be overbought and a potential exit point. Conversely, when the indicator is below -80, it is a signal to traders that the currency pair may be oversold and a potential entry point. The Williams R indicator is a great tool for traders to use in order to identify potential entry and exit points. It is easy to use, and it is available for free on the MT4 platform.
MT4
Williams R
The Williams R Indicator is a useful and popular Forex trading indicator that is available for free on the MT4 trading platform. It is used to measure the momentum and overbought/oversold levels of a currency pair. The Williams R indicator is calculated by subtracting the current closing price from the highest high over a given period of time and then dividing it by the highest high minus the lowest low over the same period. The Williams %R Indicator is a great tool for traders as it helps them identify the best entry and exit points for their trades.
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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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