The Daily Pivot Points Indicator for MT4 is a useful tool for forex traders, as it helps to identify key price levels for the day. This popular indicator is commonly used by traders to determine potential support and resistance levels, as well as to spot potential entry and exit points. The indicator calculates daily pivot points based on the previous day’s high, low, and closing prices. It then plots these levels on the chart, making it easy for traders to visualize where price might react. Traders can use this information to make more informed trading decisions and improve their overall performance. The best part is that this indicator is free to use on the MT4 platform, making it accessible to all traders. Simply add the indicator to your chart and start utilizing these key price levels in your trading strategy.
MT4
Daily Pivot Points
Daily Pivot Points Indicator MT4 is a popular and useful forex indicator that provides pivot points on a daily basis. It is free to use and can be easily integrated into the MetaTrader 4 platform. Traders can use these pivot points to identify key support and resistance levels, helping them make informed trading decisions.
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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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