The PZ Pivot Points indicator is a useful tool for forex traders using the popular MT4 platform. This free indicator helps traders identify key levels of support and resistance, which can be used to make more informed trading decisions. The PZ Pivot Points indicator works by calculating potential reversal points based on previous price movements. Using this information, traders can set stop loss and take profit levels, as well as determine entry and exit points for their trades. To use the PZ Pivot Points indicator, simply install it on your MT4 platform and add it to your chart. The indicator will automatically plot support and resistance levels for the specified time frame, giving you a clear visual guide to help you make better trading decisions.
MT4
PZ Pivot Points
PZ Pivot Points indicator is a popular and useful forex indicator designed for use on the MT4 platform. This free indicator calculates pivot points to help traders identify potential support and resistance levels. By using the indicator, traders can make more informed decisions about when to enter or exit trades. It is a valuable tool for any forex trader looking to improve their analysis.
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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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