The TSV Bullish Bearish Signals Metatrader 4 forex indicator is a technical tool that comes in the form of a histogram that is painted red or blue.
The observed colors of the histograms are used to define the plausible market trend for a currency pair of interest.
Blue colored histograms are used to indicate bullish market sentiments, while red histograms represent bearish price states.
The TSV Bullish Bearish indicator is similar to on-balance volume, considering that it measures the amount of money flowing into the market.
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Indicator Chart (EUR/CHF H1)
The EUR/CHF H1 chart below displays the TSV Bullish Bearish Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue histograms of the TSV Bullish Bearish Metatrader 4 forex indicator pop up within the indicator window.
Sell Signal: Go short when the red histograms of the TSV Bullish Bearish Metatrader 4 forex indicator are displayed within a separate window.
Exit buy trade: Close all buy orders while a bullish trend is running, the red histogram of the TSV Bullish Bearish indicator pops up.
Exit sell trade: Close all sell orders while a bearish trend is ongoing, the blue histogram of the TSV Bullish Bearish indicator gets displayed.
Tips: The TSV Bullish Bearish indicator can be deployed as a filter when confirming trading entries and exits.
MT4 Day Trading Strategy: TSV Bullish Bearish + LRMA Bollinger Bands
This day trading method combines the TSV Bullish Bearish Signals indicator with the LRMA Bollinger Bands indicator to find clean intraday moves.
The TSV indicator gives clear momentum shifts using blue histogram bars for bullish pressure and red bars for bearish pressure.
The LRMA Bollinger Bands provide the trend direction by rising in upward markets and declining during downtrends.
This combination works well because you trade only in the direction of the main trend.
Momentum confirms the trend before you enter.
Use this strategy on M15, M30, and H1 charts for day trading.
Buy Rules
- Wait for the TSV histogram to turn blue, signaling bullish momentum.
- Confirm that the LRMA Bollinger Bands are rising, indicating an upward trend.
- Ensure the current price is above the midline of the LRMA Bollinger Bands.
- Enter a long position at the close of the candle that meets all conditions.
- Place a stop loss just below the recent swing low or the lower Bollinger Band for protection.
- Set a take profit target at a 1:2 risk-to-reward ratio, or near the opposite Bollinger Band, and consider trailing the stop for extended moves.
Sell Rules
- Wait for the TSV histogram to turn red, signaling bearish momentum.
- Confirm that the LRMA Bollinger Bands are declining, indicating a downward trend.
- Ensure the current price is below the midline of the LRMA Bollinger Bands.
- Enter a short position at the close of the candle that meets all conditions.
- Place a stop loss just above the recent swing high or the upper Bollinger Band for protection.
- Set a take profit target at a 1:2 risk-to-reward ratio, or near the opposite Bollinger Band, and consider trailing the stop to capture extended moves.
Case Study 1: GBPJPY H1
During a London session breakout, GBPJPY printed a clean upward trend.
The TSV histogram turned blue while the LRMA Bollinger Bands started rising.
Price held above the midline for several candles.
A buy entry was taken just after the TSV confirmed momentum.
A stop loss was placed under the last swing.
Price continued upward for over 70 pips before reaching the upper band, hitting the profit target with a smooth momentum buildup.
Case Study 2: AUDCAD M30
AUDCAD began a downward move during the New York session.
The LRMA Bollinger Bands started sloping downward, showing a steady bearish trend.
The TSV histogram turned red for multiple bars.
A sell trade was taken as the price pulled back into the midline.
The market then dropped for around 45 pips before flattening, allowing the trade to close at the planned target.
The combination prevented premature entries and filtered out weaker setups earlier in the session.
Strategy Tips
- Avoid trades when the LRMA Bollinger Bands are flat or moving sideways
- Stronger moves occur after long periods of compression inside the bands
- Check major session openings as they often create trend setups
- Use trailing stops during strong trends to capture extended moves
- Wait for a second histogram bar for extra confirmation in volatile markets
Download
Download the “tsv-bullish-bearish.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (period, CountBars), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
