The Morning Range Forex Indicator is a popular and free MT4 tool that is useful for all Forex traders. This indicator helps traders to identify the most active and liquid hours of the day, when the markets are most volatile and have the highest liquidity. It is easy to use and provides a simple visual representation of the range of the day. The Morning Range indicator is based on the high and low of the previous day. It draws two horizontal lines on the chart, one at the high and one at the low. The indicator then plots a range area between these two lines, which can be used to identify the most active and liquid hours of the day. This range can be used to set entry and exit points for trades, as well as to identify support and resistance levels. The indicator also provides traders with an overview of the volatility and liquidity of the market. By looking at the size of the range, traders can determine the level of volatility in the market and the liquidity of the currency pair. This can help traders to make more informed trading decisions..
MT4
I Morning Range
The Morning Range Forex Indicator is a useful and popular free MT4 indicator that helps traders identify key levels for potential trading opportunities. This indicator is designed to help you identify the daily range of the currency pair you are trading, which is determined by the opening and closing prices of the previous day. The indicator will then plot the high and low of the range on your chart and provide you with an alert when the current price reaches these levels.
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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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