The Body ATR Levels indicator is a useful tool for forex traders using the MT4 platform. This popular indicator is not only free but also provides valuable insight into market volatility. The indicator is based on the Average True Range (ATR) indicator, which measures market volatility by analyzing price movement over a set period of time. Body ATR Levels takes this a step further by focusing on the body of the candle, rather than including the wicks. This allows traders to get a clearer picture of market volatility and potential price movements. To use the Body ATR Levels indicator, simply add it to your MT4 chart and adjust the settings to fit your trading style. The indicator will then display key levels on the chart based on the ATR readings, helping you identify potential entry and exit points. By using the Body ATR Levels indicator, forex traders can make more informed trading decisions and better manage their risk. Whether you are a novice trader or an experienced professional, this indicator can be a valuable addition to your trading toolkit. Download it for free today and take your trading to the next level.
MT4
Body ATR Levels
Body ATR Levels Indicator is a popular and useful forex indicator for MT4 that provides traders with crucial information about market volatility. This free indicator calculates the Average True Range (ATR) based on the body of candlesticks, helping traders identify potential entry and exit points. By using this indicator, traders can gauge the strength of price movements and set more accurate stop-loss and take-profit levels. With its user-friendly interface and customizable settings, the Body ATR Levels Indicator is a valuable tool for both beginner and experienced forex traders looking to improve their trading strategies.
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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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