The Pivot with Mid Levels indicator is a useful and popular free Forex indicator for MT4. This indicator is designed to help traders identify and take advantage of the most important support and resistance levels. It plots the daily pivot point, along with three mid-levels above and below it. The mid-levels are calculated by adding and subtracting the daily range from the pivot point. This indicator is especially useful for day traders as it can help them identify potential entry and exit points. The Pivot with Mid Levels indicator is easy to use. Once it is added to the chart, it will automatically plot the pivot point and the three mid-levels. Traders can then use these levels as potential support and resistance areas. If the price breaks through one of the levels, traders can take advantage of the move and enter a trade. The mid-levels can also be used as potential targets for stop-loss or take-profit orders. Overall, the Pivot with Mid Levels indicator is a useful and popular free Forex indicator for MT4. It can help traders identify important support and resistance levels, and provide them with potential entry and exit points. This indicator is especially useful for day traders, as it can help them make better trading decisions.
MT4
Pivot With Mid Levels
This free Forex indicator is a useful and popular MT4 tool for traders. It is designed to help traders identify possible support and resistance levels in the market. The indicator plots mid-level pivot points in addition to the regular pivot points, providing traders with more information about the market sentiment. With its simple yet effective design, it is a popular choice among Forex traders.
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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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