The Detrended Synthetic Price Histogram indicator follows the buy/sell trend on any pair and for any timeframe.
The indicator displays green and red bars in a sub window below the main MT4 chart.
Green bars to buy and red bars to sell.
The blank space between the green and red bars means a range-bound trading zone.
The EUR/USD H1 chart below shows the Detrended Synthetic Price Histogram forex indicator in action.
Basic Trading Signals
Buy Signal: Go long at the first green bar.
Sell Signal: Go short at the first red bar.
Exit buy trade: Close buy trades at the first red bar (bearish reversal signal)
Exit sell trade: Close sell trades at the first green bar (bullish reversal signal)
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (DSP period, DSP price, Signal period, Change color on) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signals indicator
Copy and paste the Detrended_Synthetic_Price_0histos.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)