The Pivots Weekly Indicator is a useful and popular free Forex indicator for MetaTrader 4 (MT4) that helps traders identify key support and resistance levels. This indicator is based on the weekly pivot points, which are used to identify potential turning points in the market. It can be used by both novice and experienced traders to identify potential buying and selling opportunities. The Pivots Weekly Indicator plots the weekly pivot points on the chart, along with the support and resistance levels. These levels are calculated using the high, low and close prices of the previous week. The indicator also displays the mid-point of the pivot range, which is used as a reference point for the support and resistance levels. It also displays the previous week’s range, which is used to identify potential breakouts. The Pivots Weekly Indicator is a powerful and reliable tool for any trader looking to identify potential trading opportunities. It is free to download and use, and is a popular choice among Forex traders.
MT4
Pivots Weekly
The Pivots Weekly Indicator for MT4 is a useful and popular free Forex indicator. It is used to identify potential support and resistance levels for the current week based on the previous week’s price action. The indicator plots four lines which represent the weekly pivot, support 1, support 2, and resistance 1. It can be used on any time frame and is a great indicator for Forex traders of all levels.
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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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