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Pivot Indicator

The Pivot Indicator for MT5 is a popular and free Forex indicator for traders of all levels. It works by plotting horizontal lines which represent the pivot points, which are calculated from the previous day’s high, low, and close prices. These lines can be used to identify potential entry and exit points for trades. It is a great tool to help traders stay on top of the market and make informed decisions.

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Description

The Pivot Indicator for MetaTrader 5 (MT5) is powerful and free indicator is designed to provide traders with invaluable insights into potential support and resistance levels, empowering them to make more informed trading decisions.

Features of the Pivot Indicator

The Indicator for MT5 is packed with a range of features that make it an indispensable addition to any trader’s toolkit. At the heart of this indicator lies its ability to identify and plot pivotal price levels on the chart, known as pivot points.

These multi-colored horizontal levels serve as potential areas of support and resistance, helping traders to anticipate market reversals and position their trades accordingly.

How the Pivot Indicator Can Benefit You

The Indicator for MT5 offers a wealth of benefits to traders of all experience levels. By highlighting the key support and resistance levels, this indicator enables traders to identify potential buy and sell opportunities with greater precision.

Whether you’re a seasoned Forex veteran or a newcomer to the market, the Pivot Indicator can be a valuable asset, providing you with the insights and tools you need to make more informed trading decisions and potentially enhance your overall trading performance.

Indicator Settings

Color settings.

Conclusion

The Pivot Indicator for MT5 is a powerful and free tool that can revolutionize the way traders approach the Forex market. By providing a clear visual representation of pivotal price levels, this indicator empowers traders to anticipate market movements and capitalize on emerging opportunities. Whether you’re looking to refine your existing trading strategy or explore new avenues for growth, the Indicator is a must-have addition to your trading arsenal. Download the indicator for free and unlock the full potential of the Forex market.

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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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