The PTS Support and Resistance MTF indicator is a popular and useful tool for forex traders using the MT4 platform. This free indicator helps traders identify key support and resistance levels on multiple timeframes, allowing for more informed trading decisions. The indicator works by automatically scanning the market and highlighting significant support and resistance levels based on historical price data. This makes it easier for traders to identify potential entry and exit points, as well as areas where price may reverse or consolidate. To use the PTS Support and Resistance MTF indicator, simply attach it to your MT4 chart and adjust the settings to your preference. Traders can customize the indicator to show support and resistance levels for different timeframes, helping to confirm trends and identify potential breakout or reversal opportunities. Overall, this indicator is a valuable tool for forex traders looking to improve their technical analysis skills.
MT4
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PTS Support And Resistance
PTS Support and Resistance MTF Indicator for MT4 is a popular and useful forex indicator that displays support and resistance levels on multiple timeframes. It is free to use and can help traders identify key levels for making trading decisions. The indicator works by analyzing price action to identify areas where the market has previously struggled to move beyond, making it a valuable tool for traders.
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Category: Support & Resistance
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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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