The Simple Horizontal Grid indicator is a popular and useful free Forex indicator for MT4 (MetaTrader 4) trading platforms. It is designed to help traders identify potential entry and exit points for their trades by plotting a series of horizontal lines that represent the support and resistance levels of a given currency pair. The indicator works by plotting horizontal lines on the chart for the high, low, open, and close of the previous day. This allows traders to quickly identify areas where the price may be likely to reverse or break out. The lines are also useful for setting stop-loss and take-profit levels. The Simple Horizontal Grid indicator is a great tool for any Forex trader. It helps traders to quickly identify potential trading opportunities and set stop-loss and take-profit levels. It is free, easy to use, and highly customizable, making it one of the most popular indicators for MT4 trading platforms.
MT4
Simple Horizontal Grid
The Simple Horizontal Grid Indicator is a useful free Forex indicator for the MT4 platform. It works by plotting horizontal lines at predetermined points on the chart. The lines are determined by the trader’s entry, stop-loss, and take-profit levels. This makes it easy to identify potential entry and exit points, as well as areas of support and resistance. The Simple Horizontal Grid Indicator is a popular and free tool that can be used to improve trading accuracy and efficiency.
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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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