The Jevel Trend Bar forex indicator is an histogram bar signals indicator that works for any currency pair.
The indicator draws green and orange bars in a separate Metatrader 4 window.
- A bullish trend occurs when the Jevel Trend FX indicator draws a green bar
- A bearish trend occurs when the Jevel Trend FX indicator draws an orange bar
Trading this forex indicator is utterly simple, even for beginners:
- Buy when a green bar appears on the chart
- Sell when an orange bar appears on the chart
The Jevel Trend can be traded as a standalone indicator or together with other technical indicators/analysis tools.
You can deploy this indicator on any timeframe starting from the 1-minute charts and higher.
It’s good for scalping, day trading and swing trading.
The EUR/USD 15-minute chart below displays the Jevel Trend Bar Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Jevel Trend Bar MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Buy the currency pair when the Jevel Trend indicator draws a green histogram bar (bullish trend).
Sell Signal: Sell the currency pair when the Jevel Trend indicator draws a red histogram bar (bearish trend).
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Length, Price) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the jevel-histogram.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)