The Simple Stop Entry Price Indicator is a useful tool for forex traders using the popular MT4 platform. This indicator is free to download and can be easily added to your trading setup. The indicator works by providing traders with a clear entry price for buy or sell orders, making it easier to set stop loss levels. Once the indicator is added to your chart, it will display a clear entry price for you to consider when placing a trade. To use the Simple Stop Entry Price Indicator, simply download and install it on your MT4 platform. Then, add it to your chart and look for the entry price displayed. You can use this price as a reference when placing trades, helping you set appropriate stop loss and take profit levels. Overall, this indicator can be a valuable tool for forex traders looking to improve their trading strategy.
MT4
Simple Stop Entry Price
Simple Stop Entry Price indicator is a popular and useful forex indicator for MT4 that is available for free. This indicator helps traders by showing them the optimal entry price to place a stop loss order. By using this indicator, traders can effectively manage their risk and improve their trading strategy. The indicator is easy to use and can greatly benefit forex traders.
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Category: Support & Resistance
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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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