The iFour Pivot Indicator is a useful tool for traders in the forex market, as it can help identify key support and resistance levels. This popular MT4 indicator is free to use and can be easily added to your trading platform. The indicator works by calculating pivot points based on the previous day’s high, low, and close prices. These pivot points can then be used to determine potential entry and exit points for trading positions. To use the iFour Pivot Indicator, simply add it to your chart and adjust the settings to your preference. The indicator will then plot the pivot points on your chart, making it easy to see where potential price levels may be located. Traders can use this information to make informed trading decisions and increase their chances of success in the forex market.
MT4
Ifour Pivot
iFour Pivot Indicator is a useful forex indicator for MT4 that is popular among traders for its accuracy in identifying key pivot points. This free indicator works by calculating support and resistance levels based on previous price movements, helping traders make informed decisions on market entry and exit points. Learn more about how to use this indicator effectively for your trading strategy.
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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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