The Daily Weekly Monthly HiLo Pivot Points Indicator is a powerful tool for Forex traders. It’s a free, popular, and useful indicator that works with the MT4 platform. This indicator can help traders identify potential support and resistance levels across different time frames. It can also be used to spot trend reversals and help traders identify entry and exit points. The Daily Weekly Monthly HiLo Pivot Points Indicator uses the high, low, and closing prices of the previous day, week, and month to calculate the pivot points for the current day. These pivot points are then used to identify support and resistance levels. When the price is above the pivot point, the trend is considered to be up. When the price is below the pivot point, the trend is considered to be down. The Daily Weekly Monthly HiLo Pivot Points Indicator is very easy to use. This indicator is highly recommended for traders who are looking for a free, popular, and useful tool to help them identify potential entry and exit points.
MT4
Daily Weekly Monthly Hilo Pivot Points
The Daily Weekly Monthly HiLo Pivot Points Indicator is a useful and popular free Forex indicator for MT4. The indicator works by plotting the daily, weekly, and monthly pivot points on the chart. These pivot points are calculated using the high, low, and close prices of the previous day, week, or month. The indicator also plots mid-pivot points which are calculated by taking the average of the high, low, and close prices. By using these pivot points, traders can identify potential support and resistance levels that could be used to enter and exit trades.
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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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