FX Glow MA Histogram is a free mt4 (Metatrader 4) indicator that provides high-quality trend signals for any currency pair of your preference.
The indicator appears in a separate chart window in the form of blue and magenta colored histogram bars.
Buy & Sell Trade Example
- A blue histogram bar is a buy signal.
- A magenta histogram bar is a sell signal.
- Reverse the open trade whenever an opposite histogram bar gets displayed on the chart.
For scalping and day trading, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “MA Histogram.ex4” indicator for MT4
Indicator Chart (EUR/USD M15)
The picture below shows the FX Glow MA Histogram mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the FX Glow MA Histogram indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend
Does the indicator repaint? No.
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.
