The Weekly Open Indicator is a popular and free forex indicator for use on the MT4 platform. This indicator is useful for traders looking to identify key price levels at the start of the trading week. The indicator works by plotting the opening price of each trading week on the chart, giving traders a clear reference point for potential support and resistance levels. This can help traders make more informed decisions when setting their trading strategies for the week. To use the Weekly Open Indicator, simply download and install it on your MT4 platform. Once applied to your chart, you will see a line representing the opening price of the current week. This can be a valuable tool for identifying potential market reversals or breakouts based on the previous week’s price action.
MT4
Weekly Open
Weekly Open Indicator is a useful forex indicator for MT4 that shows the open price of each trading week. This popular and free indicator helps traders identify key levels and plan their trades accordingly. Simply install the indicator on your MT4 platform and it will automatically display the weekly open price on your charts. Use it to improve your trading decisions and strategies.
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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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