The Average Day Range v1.0 is a popular and useful forex indicator that can be used on the MT4 platform. It provides traders with valuable information about the average range of price movement for a specific currency pair during a trading day. This can help traders make more informed decisions about where to set stop loss and take profit levels. The indicator is easy to use, simply download and install it on your MT4 platform. Once activated, it will display the average day range on your chart, giving you a clear visual representation of the potential price movement for the day. Traders can use this information to adjust their trading strategy accordingly, taking into account the average range of price movement for the currency pair they are trading. Best of all, this indicator is free to use, making it a valuable tool for forex traders of all levels.
MT4
Average Day Range V1.0
Average Day Range v1.0 is a useful forex indicator for the popular MT4 platform. This free indicator calculates the average range of price movement over a specified number of days, helping traders identify potential entry and exit points. By understanding the average range, traders can better plan their trades and manage risk effectively. Simply add the indicator to your MT4 chart to start using it.
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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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