The ATR Levels Indicator is a useful and popular Forex indicator for MT4. It is a free indicator that helps traders identify potential support and resistance levels. The indicator uses the Average True Range (ATR) to calculate the levels. It is based on the idea that prices often move in a range between two levels, and that these levels can be identified using the ATR. The indicator plots the ATR levels on the chart, which can then be used as potential support and resistance levels. Traders can use the ATR Levels Indicator to identify entry and exit points, as well as to set stop-loss and take-profit levels. The indicator is easy to use and can be a valuable tool for traders looking to gain an edge in the Forex market.
MT4
ATR Levels
The ATR Levels Indicator is a useful and popular Forex indicator for MT4. It is a free indicator that helps traders identify potential support and resistance levels. The indicator uses the Average True Range (ATR) to calculate the levels. It is based on the idea that prices often move in a range between two levels, and that these levels can be identified using the ATR.
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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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