The WATR Indicator is a popular and free Forex indicator for the MT4 platform. It is a useful tool for traders looking to gain an edge in the Forex market. The WATR Indicator is based on the Williams Alligator indicator, which uses three moving averages to identify trends. The WATR Indicator uses the same three moving averages, but adds an additional factor to help traders identify trends more quickly. The WATR Indicator works by combining the three moving averages with the Average True Range (ATR) indicator. The ATR indicator measures the volatility of the market, and the WATR Indicator uses this information to identify potential trend reversals. The WATR Indicator will display a green arrow when the market is trending up, and a red arrow when the market is trending down. The WATR Indicator can also be used to identify potential support and resistance levels. The WATR Indicator is a great tool for traders looking to take advantage of short-term trends. The indicator can be used to identify potential entry and exit points, and it can also be used to identify potential support and resistance levels.
MT4
WATR Indicator
The WATR forex indicator is a popular and free MT4 indicator used by many traders. It can be used to identify trends, support and resistance levels, and other market conditions. It also offers a variety of features such as customizable alert settings, trend lines, and a wide range of indicators. It is also useful for scalping and day trading. The indicator is free to use and is popular among traders due to its accuracy and reliability.
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Category: Envelope Indicators
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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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