The Pivot Backtest Indicator is a popular and highly useful forex indicator designed for the MetaTrader 4 (MT4) platform. This free indicator helps traders analyze market trends and price levels by highlighting key pivot points on their charts. By utilizing historical price data, the Pivot Backtest Indicator calculates and plots support and resistance levels, as well as pivot points, which can serve as potential entry and exit points for trades. Traders can use these levels to identify potential breakouts, reversals, and trends in the forex market. With its user-friendly interface, the Pivot Backtest Indicator is easy to install and use on the MT4 platform. After adding the indicator to the chart, traders can adjust the settings to customize the display of pivot points according to their trading preferences. This allows traders to incorporate pivot points into their forex trading strategies and make informed trading decisions based on these price levels. Whether you are a beginner or an experienced trader, the Pivot Backtest Indicator can be a valuable tool in your forex trading toolbox, aiding in the identification of key market levels and enhancing your overall trading strategy.
MT4
Pivot Backtest
Pivot Backtest Indicator is a popular and useful forex indicator for MT4. This free indicator calculates pivot points, allowing traders to identify potential support and resistance levels. It provides valuable information for analyzing market trends and making informed trading decisions. The Pivot Backtest Indicator is easy to use and highly effective in analyzing price movements. Simply input the necessary data and the indicator will display the pivot points on your chart, helping you determine optimal entry and exit points.
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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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