Get this indicator here (.mq4)
This indicator is pretty intuitive. It displays a histogram below the price chart.
Buy – when the histogram is green.
Sell – when the histogram is red.
When Long, the trading ideas are:
- As long as each new green histogram bar keeps rising, stay in a trade, no worries there.
- Once the green histogram bar fails to make a new high – tighten you stop / or place a trailing stop while holding on to a trade.
- Once the green has changed to red – exit. Also you’ll exit earlier if the Stop Loss is hit.
When Short, the trading ideas are:
- As long as each new red histogram bar rises, stay in a Short trade.
- Once the red histogram bar fails to make a new high – tighten you stop / or place a trailing stop while holding on to a trade.
- Once the red has changed to green – exit. Also you’ll exit earlier if the Stop Loss is hit.
Please comment below and let us know what other indicators can work together with this one.
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