About the FX Glow MA Histogram Indicator
The FX Glow MA Histogram is a free MT4 indicator that provides reliable trend signals for any currency pair.
It appears in a separate chart window as blue and magenta histogram bars.
Blue bars indicate bullish momentum, while magenta bars indicate bearish momentum.
This makes it easy to identify trend direction and potential trade entries at a glance.
The indicator calculates moving average differences and displays the results as colored histogram bars.
Traders can use it for scalping or swing trading on any time frame.
Free Download
Download the “MA Histogram.ex4” indicator for MT4
Key Features
- Displays trend direction using blue (buy) and magenta (sell) histogram bars.
- A separate chart window keeps the main chart clean.
- Can be combined with other indicators for more advanced strategies.
Indicator Chart
The FX Glow MA Histogram chart shows blue and magenta histogram bars that indicate bullish and bearish trends, respectively.
This visual representation helps traders identify when to enter or exit trades based on the current market momentum.
The chart makes trend spotting quick and intuitive.
Guide to Trade with FX Glow MA Histogram
Buy Rules
- Open a buy trade when a blue histogram bar appears on the chart.
- Confirm bullish momentum with a series of consecutive blue bars if desired.
Sell Rules
- Open a sell trade when a magenta histogram bar appears on the chart.
- Confirm bearish momentum with a series of consecutive magenta bars if desired.
Stop Loss
- For buy trades, place a 2-5 pips stop loss below the most recent swing low.
- For sell trades, place a stop loss 2-5 pips above the most recent swing high.
Take Profit
- Close the trade when an opposite histogram bar appears (blue for sell, magenta for buy).
- Alternatively, set a take profit near the next support or resistance level for the currency pair.
- Use trailing stop losses to capture extended trends if the market moves strongly.
Practical Tips
- Wait for at least one full bar confirmation before entering a trade.
- Adjust position size according to volatility and time frame to manage risk.
- Check higher time frames to ensure trades align with the overall trend.
FX Glow MA Histogram + Free Forex Scalping Indicator MT4 Strategy
This scalping system merges trend strength from the FX Glow MA Histogram MT4 with entry signals from the Free Forex Scalping Indicator MT4.
The first displays a blue histogram when the market is bullish and magenta when bearish.
The second indicator gives green histogram bars for buy signals and red bars for sell signals.
By combining a trend filter (FX Glow) with a signal generator (scalping indicator), the method aims to reduce false entries and increase win rate.
Use this on M1 or M5 charts.
It’s best for traders who prefer quick trades and can monitor closely.
Ideal during active sessions when volatility is present (London, New York).
Pairs like EUR/USD, GBP/JPY, USD/JPY, and AUD/USD tend to offer good scalping opportunities.
Buy Entry Rules
- Confirm that the FX Glow MA Histogram is showing blue bars, indicating a bullish trend.
- Then wait for the Free Forex Scalping Indicator to show green histogram bars (or a shift to green) as the entry signal.
- Enter a buy trade at the close of the candle where the green bars appear (after confirming the trend is blue).
- Set stop loss a few pips below the recent swing low, or below the low of the entry candle.
- Take profit target: 8–15 pips (or adjust based on pair volatility).
- Optionally, trail stop when in profit by half the target.
Sell Entry Rules
- Confirm that the FX Glow MA Histogram is showing magenta bars, indicating a bearish trend.
- Then wait for the Free Forex Scalping Indicator to show red histogram bars as the entry signal.
- Enter a sell trade at the close of the candle where red bars appear.
- Set the stop loss a few pips above the recent swing high or above the high of the entry candle.
- Take profit target: 8–15 pips, or trail part of the position after partial gain.
Advantages
- The trend filter helps avoid countertrend entries.
- Works well during active market periods.
- Applicable to many currency pairs.
- Small targets reduce exposure to large reversals.
Drawbacks
- Fewer trades when the trend is weak or flat.
- Indicator signals can lag in fast reversals.
- Requires quick decision-making and strict discipline.
Example Case Study 1: USD/JPY on M5 Chart
During the Tokyo–London overlap, the FX Glow histogram turned blue at 110.42.
A few candles later, the scalping indicator shifted to green at 110.44.
A buy was entered at 110.44, stop set at 110.37, target at 110.55 (11 pips).
Price moved upward and hit the target within 15 minutes.
The trend confirmation helped avoid earlier green signals that appeared during weak moves.
Example Case Study 2: GBP/JPY on M1 Chart
In a volatile session, FX Glow showed magenta bars from 154.60 downward.
Shortly after, the scalping indicator turned red at 154.57.
A sell order was placed at 154.57, stop at 154.63, target at 154.45 (12 pips).
The pair dropped quickly and reached the target in under 30 seconds due to strong momentum in line with the trend.
Strategy Tips
- Only take green entries when the trend is blue; only take red entries when the trend is magenta.
- Wait for the first signal after a trend change rather than multiple clustered signals.
- Trade during high-volume sessions to improve reliability.
- A green histogram is a buy signal; a red histogram is a sell signal.
- A move of the FX Glow histogram turning blue confirms a bullish trend; turning magenta confirms a bearish trend.
- Avoid trading just before major news releases to reduce slippage and erratic moves.
By filtering entry signals with trend confirmation, this scalping method gives a clearer set of trades to take.
With consistent risk management and discipline, it can deliver steady small profits over many trades.
Download Now
Download the “MA Histogram.ex4” indicator for Metatrader 4
FAQ
How do I know the trend is strong?
Look for consecutive blue or magenta bars. Multiple bars in the same color indicate stronger momentum and a higher probability trade.
Can this indicator give false signals?
Yes, especially in choppy or ranging markets. Use it with trend filters or higher time frames to reduce false entries.
Is it suitable for scalping?
Yes, it works on lower time frames for quick trades, but signals are more frequent. Confirm trades with additional indicators for better accuracy.
Does the indicator repaint?
No, the histogram bars are fixed once formed. Traders can rely on them for live trades without concern of repainting.
Summary
The FX Glow MA Histogram MT4 indicator is an effective tool for spotting trends and generating reliable buy and sell signals.
Blue and magenta histogram bars clearly indicate market direction, making it easy to enter and exit trades confidently.
With proper stop loss and take profit management, traders can control risk while maximizing potential profits.
Overall, it’s a practical addition to any MT4 trading setup, helping traders identify high-quality trend opportunities efficiently.
