The Pivot PP Indicator is a popular and free Forex indicator for the MT4 trading platform. It is a useful tool for traders who want to quickly identify the key support and resistance levels in the Forex market. The indicator is based on the Pivot Point (PP) formula which helps traders identify the main support and resistance levels that can be used to make trading decisions. The Pivot PP Indicator is easy to use and requires minimal setup. It automatically calculates the main support and resistance levels based on the previous day’s high, low and close prices. The indicator displays the support and resistance levels in the form of horizontal lines on the chart. Traders can use these levels to determine where to enter and exit a trade. The indicator also displays the mid-point of the range which can be used to determine the overall trend of the market. The indicator is free and can be downloaded from the MT4 platform.
MT4
Pivot PP
The Pivot PP Indicator is a popular and useful Forex indicator for the MT4 platform. The indicator works by plotting a line on the chart that corresponds to the pivot point, which is the point at which the market is most likely to reverse direction. It is a great tool for those looking to gain an edge in the Forex market.
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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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