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Days Of The Week
MT5
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Day Of The Week Labels

The Day of the Week Labels MT5 indicator highlights the days of the week, months, and years on the chart. It is also a great way to keep track of upcoming news events and other important dates. Download free! Try now!

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Description

The Day of the Week Labels MT5 indicator is a simple financial trading tool that highlights the trading sessions of the days of the week, months, and years. It provides an overview and insight into the market behavior across different trading days, months, and years.

Features of the Day Of The Week Labels Indicator

The Day of the Week Labels MT5 Indicator highlights the days of the week, month, and year across multiple timeframes. It plots vertical bars on the chart and labels them accordingly.

Furthermore, the indicator’s parameters are customizable, allowing traders to determine how it highlights the days of the week, months, or years. For example, traders can turn on/off the display of the days, months, or years and customize it in their preferred languages.

Benefits of Using the Indicator

  • Enhanced Market Analysis: The Day of the Week Labels MT5 indicator provides visuals of the days of the week, enabling traders to gain insight into the overall market trend for the day, week, or month. This information enhances technical analysis and assists traders in identifying potential trading opportunities. For example, a swing trader can anticipate a trend continuation of a bullish market after a retracement if the market has been trending to the upside for the past weeks of a month.
  • Time-Saving: The Indicator eases the time it would take a trader to manually track the market behavior across different days, weeks, or months.

Indicator Settings Description

The indicator comes with the following customizable settings:

Show days: Enables/Disables the indicator to highlight the day of the week.

Show months: Enables/Disables the indicator to highlight the months in a year.

Show years: Enables/Disables the indicator to highlight the years.

Name of Monday to Saturday label: Determines the name to display for Monday through Saturday.

Name of January to December label: Determines the name to display for January through December.

Dayline color: Determines the line color to highlight the day.

Day line width: Determines the line width.

Day label color: Determines the label color to highlight the day.

Day label size: Determines the label size.

Month line color: Determines the line color to highlight the month.

Month line width: Determines the line width to highlight the month.

Month label color: Determines the color to highlight the month.

Month label size: Determines the label size.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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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