The Pivot Resistance Support Indicator is a useful tool in the forex market that is popular among MT4 users. This indicator helps traders identify key levels of support and resistance based on pivot points. By utilizing this indicator, traders can anticipate potential price movements and make more informed trading decisions. The indicator works by plotting three support and three resistance levels based on the previous day’s high, low, and close prices. These levels act as barriers for price movement, providing valuable entry and exit points for trades. Traders can use this information to set stop-loss and take-profit levels, as well as to determine overall market sentiment. The Pivot Resistance Support Indicator is free to use and can be easily added to your MT4 platform. Simply download the indicator and apply it to your charts to start utilizing this valuable tool in your forex trading strategy.
MT4
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Pivot Resistance Support
Pivot Resistance Support Indicator is a popular and useful forex indicator for MT4 that helps traders identify key levels of support and resistance for making trading decisions. It is a free tool that calculates pivot points based on previous price levels and can be used to determine entry and exit points in the market. This indicator is widely used by traders to improve their trading strategies.
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Categories: Signal, Support & Resistance
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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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