The ATR Value Indicator for MT4 is a useful and popular free Forex indicator for the MetaTrader 4 platform. It helps traders to identify the average true range of a currency pair over a chosen period of time. This indicator is especially useful for traders who want to measure the volatility of a currency pair. It is also useful for traders who want to set their stop loss and take profit levels based on the ATR value. The ATR Value Indicator for MT4 is based on the Average True Range (ATR) indicator developed by J. Welles Wilder. This indicator measures the average range of a currency pair over a given period of time. It is calculated by taking the highest of the following three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close. The ATR Value Indicator for MT4 then plots the ATR value on the chart as a line or histogram. It helps traders to measure the volatility of a currency pair and set their stop loss and take profit levels accordingly.
MT4
ATR Value
The ATR Value Indicator for MT4 is a useful and popular free Forex indicator. It works by measuring the average true range of price movements over a certain period of time. The ATR Value Indicator for MT4 is a great tool for traders who want to get a better understanding of the market and its movements.
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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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