The Fractal Support and Resistance Indicator is a popular and useful tool for Forex traders using the MT4 platform. This indicator helps identify key support and resistance levels based on fractal patterns in the market. Fractals are formations that indicate potential reversal points in the market, making them valuable for traders looking to enter or exit positions. This indicator plots these fractal levels on your chart, making it easy to spot important price levels. To use the Fractal Support and Resistance Indicator, simply install it on your MT4 platform and apply it to your chart. When price approaches these fractal levels, traders can use them as areas to place stop-loss orders, take-profit targets or as entry points for trades. Overall, the Fractal Support and Resistance Indicator is a free and reliable tool for Forex traders looking to analyze key levels in the market.
MT4
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Fractal Support And Resistance
Fractal Support and Resistance Indicator is a popular and useful forex indicator for MT4 that helps traders identify key levels in the market. This free indicator works by identifying fractals, which are key turning points in the market, to help traders determine potential support and resistance levels. By using this indicator, traders can make more informed trading decisions based on market dynamics.
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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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