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VIP Dynamic Support Resistance

The VIP Dynamic Support Resistance indicator for MT4 is one of the best support and resistance indicators in the financial markets. With this indicator, traders can easily identify key support and resistance levels and make better trading decisions.

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Description

The VIP Dynamic Support Resistance indicator for MT4 is a beginner-friendly indicator that displays optimal zones for potential trend reversal trading opportunities. Simply put, it defines areas where the price may reverse.

What is the best support and resistance indicator in forex?

Support and resistance indicators, such as highs and lows, pivot point indicators, etc., are some of the best indicators used in the financial market for identifying optimal zones for trend reversals, trade entries, and exits. Besides, the VIP Dynamic Support Resistance Indicator for MT4 is another top indicator optimized for highlighting support and resistance levels in the market. The indicator is chart-friendly, efficient, and easy to use.

Features of the VIP Dynamic Support Resistance Indicator

The VIP Dynamic Support Resistance Indicator for MT4 identifies support and resistance areas across multiple time frames. It highlights these zones across the chart using solid and dotted lines. The solid line represents a strong support and resistance zone that has not been tested by the price. Conversely, the dotted line is a zone tested by the price.

Benefits of Using the Indicator

  • Improves Decision Making: The VIP Dynamic Support Resistance Indicator for MT4 helps traders identify optimal zones for trade entries and exits. For instance, traders can look for a buying opportunity at the untested support level of the indicator and exit when the price approaches the resistance line. However, the indicator is recommended to be used along with price action/other technical indicators for better results.
  • Time-Saving: The indicator reduces stress and saves time by automatically highlighting support and resistance levels for traders.

Indicator Settings Description

 

The indicator does not come with customizable settings.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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