The MTF Resistance Support Indicator for MT4 is a popular and free Forex indicator that is used by many traders to identify areas of potential support and resistance. This indicator works by plotting the current price action on the chart, along with the previous highs and lows, and then drawing horizontal lines to indicate these levels. The lines are then connected to form a “channel”, which can be used to identify potential areas of support and resistance. The indicator is useful for traders who want to identify potential entry and exit points on their charts. By looking at the MTF Resistance Support Indicator, traders can identify potential areas where the market may be headed and set their trades accordingly. The indicator also helps traders identify potential areas of support and resistance, which can help them stay in their trades for longer periods of time. This indicator is free and easy to install on the MT4 platform, making it a popular choice among Forex traders.
MT4
MTF Resistance Support
This popular and free MTF Resistance Support Indicator for MT4 is a useful tool for forex traders. It displays the support and resistance levels on the chart in a clear and easy to understand way. It is a great tool for both novice and experienced traders alike, giving them the opportunity to maximize their profits.
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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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