The Super Signals Histogram Metatrader 4 indicator provides great buy and sell signals for any currency pair.
It’s an histogram oscillator indicator which oscillates above and below the zero level (0.00).
Red histogram bars above the zero level are considered to be bullish.
Red histogram bars below the zero level are considered to be bearish.
This signals indicator works for scalping, day trading and swing trading for bigger profits.
The EUR/USD H1 chart below displays the Super Signals Histogram forex indicator in action.
Basic Trading Signals
Signals from the Super Signals Histogram MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when the red histograms bars rise above the zero level (bullish).
Sell Signal: Open sell position when the red histogram bars fall below the zero level (bearish).
Trade Exit: Close the open trade 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
Customization options: Variable (ndot, CountBars) 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 Oscillator
Copy and paste the coeffoline-histogram.ex4.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)