The Precision Trend Histogram Metatrader 4 forex indicator shares a lot of similarities to some existing indicators, but there are some variations, which makes it permissible for traders to own it as a separate technical indicator.
It is an indicator that measures market trends quite well.
The histograms are colored according to the current “precision trend” state.
As a trend following indicator, the Precision Trend Histogram displays green and red histograms that foretells whether price is bullish or bearish respectively.
- A green histogram bar represents a bullish trend.
- A red histogram bar represents a bearish trend.
The GBP/USD M30 chart below displays the Precision Trend Histogram Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the Precision Trend Histogram Metatrader 4 forex indicator displays green histograms within its window.
Sell Signal: Go short when the Precision Trend Histogram Metatrader 4 forex indicator puts up red histograms within its window.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Precision Trend Histogram indicator pops up a red histogram
Exit sell trade: Close all sell orders if while a bearish trend is running, the Precision Trend Histogram indicator puts on display a green histogram.
Tips: The Precision Trend Histogram indicator is susceptible to whipsaws during ranging markets, but works perfectly well in trending markets.
Try it for scalping, day trading and swing trading.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (Average period, Sensitivity), 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 precision-trend-histogram.ex4 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)