The Floating Pivot Points Indicator is a popular and useful forex indicator designed for the MT4 platform. This free indicator provides traders with valuable information on key support and resistance levels in the forex market. Floating pivot points are calculated using a specific formula that takes into account the previous day’s high, low, and close prices. These pivot points act as potential levels where the market could reverse or exhibit significant price action. Traders can use this indicator to identify potential entry and exit points for their trades. To use the indicator, traders simply need to add it to their MT4 platform. The indicator will then automatically plot the pivot points on the chart, making it easy to visualize and analyze. By understanding the current market sentiment and aligning it with the pivot points, traders can make more informed trading decisions. The Floating Pivot Points Indicator is a valuable tool for forex traders, providing them with a comprehensive overview of key support and resistance levels. Whether you are a beginner or an experienced trader, this indicator can help you improve your market analysis and enhance your forex trading strategies.
MT4
Floating Pivot Points
Floating Pivot Points Indicator is a highly useful and popular forex indicator for MT4, available for free. This indicator assists traders in determining potential support and resistance levels by calculating pivot points based on the previous trading session. It provides valuable insights into market trends and can be effectively utilized to make informed trading decisions. With its user-friendly interface and comprehensive analysis, Floating Pivot Points Indicator is a valuable tool for forex traders.
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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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