The Stop ATR Auto Indicator is a useful tool for forex traders using the MT4 platform. This popular indicator is free to download and can help traders set stop loss levels based on the average true range (ATR) of the market. The indicator works by calculating the ATR of the market and then automatically setting stop loss levels based on this value. This can help traders set more accurate stop loss levels that are in line with the current market volatility. To use the Stop ATR Auto Indicator, simply download and install it on your MT4 platform. Once activated, the indicator will display the calculated ATR levels on your trading chart, allowing you to easily adjust your stop loss levels accordingly. Overall, this indicator is a valuable tool for forex traders looking to manage risk more effectively.
MT4
Stop ATR Auto
Stop ATR Auto Indicator is a popular and useful forex indicator for MT4 that is available for free. This indicator calculates stop loss levels based on the Average True Range (ATR) of the market. It dynamically adjusts the stop loss level according to market volatility, making it a valuable tool for risk management in forex trading.
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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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