The Jevel Trend Bar forex indicator is a histogram bar signals indicator that works for any currency pair.
The indicator draws green and orange bars in a separate Metatrader 4 window.
- A bullish trend occurs when the Jevel Trend FX indicator draws a green bar
- A bearish trend occurs when the Jevel Trend FX indicator draws an orange bar
Trading this forex indicator is utterly simple, even for beginners:
- Buy when a green bar appears on the chart
- Sell when an orange bar appears on the chart
The Jevel Trend can be traded as a standalone indicator or together with other technical indicators/analysis tools.
You can deploy this indicator on any timeframe starting from the 1-minute charts and higher.
It’s good for scalping, day trading and swing trading.
Free Download
Download the “jevel-histogram.mq4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD 15-minute chart below displays the Jevel Trend Bar Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Jevel Trend Bar MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Buy the currency pair when the Jevel Trend indicator draws a green histogram bar (bullish trend).
Sell Signal: Sell the currency pair when the Jevel Trend indicator draws a red histogram bar (bearish trend).
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
Jevel Trend Bar + EW Trend Scalper MT4 Scalping Strategy
This scalping strategy combines two useful MT4 indicators: the Jevel Trend Bar Indicator for MT4 and the EW Trend Indicator for MT4.
The Jevel Trend Bar shows green histogram bars when market sentiment is bullish and orange bars when bearish.
The EW Trend Indicator gives precise momentum signals.
When its line jumps above the zero level you get a buy trigger, and when it falls below the zero level you get a sell trigger.
By combining these two tools you get a double-confirmation scalping system.
The Jevel Trend Bar filters the trend. The EW Trend indicator provides entry triggers based on quick reversals or fresh momentum shifts.
This system works well on M1, M5, or M15 charts during high-liquidity sessions.
Buy Entry Rules
- The Jevel Trend Bar histogram bars turn green, showing bullish trend pressure.
- The EW Trend Indicator line jumps above 0.00. This triggers a buy signal.
- Enter a buy order immediately after the signal candle closes or at the open of the next candle.
- Place a stop loss a few pips below the recent swing low or below the low of the signal candle.
- Take profit after a small fixed pip gain of 8 to 20 pips depending on the pair and spread.
- Alternatively, exit when either the Jevel Trend Bar turns orange or the EW Trend drops below 0.00, whichever happens first.
Sell Entry Rules
- The Jevel Trend Bar histogram bars turn orange, showing bearish trend pressure.
- The EW Trend Indicator line jumps below 0.00. This triggers a sell signal.
- Enter a sell order immediately after the signal candle closes or at the open of the next candle.
- Place a stop loss a few pips above the recent swing high or above the high of the signal candle.
- Take profit after a small fixed pip drop of 8 to 20 pips.
- Alternatively, exit when the Jevel Trend Bar turns green or the EW Trend crosses above 0.00, whichever happens first.
Advantages
- Double confirmation reduces false signals with trend filter and momentum trigger.
- Simple and visual, easy to monitor on lower timeframes without complexity.
- Frequent signals on liquid pairs, ideal for active scalpers wanting many opportunities.
- Quick entries and exits capture short-term moves without long-term exposure.
- Flexible, works on M1, M5, M15 depending on time availability and trading style.
Drawbacks
- Small profit targets require several winning trades to offset spread and slippage.
- Requires constant attention and fast execution, not suitable for slow traders.
- Frequent trades increase transaction costs, so tight risk control is essential.
Example Case Study 1
On EURUSD M5 during the London session, the Jevel Trend Bar showed green bars, indicating bullish trend pressure.
The EW Trend Indicator line crossed above 0.00 at 1.0982.
After the candle closed, a buy order was placed at 1.0983 with a stop loss at 1.0975.
Price moved up quickly and reached 1.1001 within 12 minutes.
The trade was closed at 1.0999 for a gain of 16 pips before any reversal signal appeared.
Example Case Study 2
On USDCHF M15 during the New York session, the Jevel Trend Bar turned orange, showing bearish pressure.
The EW Trend Indicator then dropped below 0.00 at 0.8925.
A sell entry was taken at 0.8924 with a stop loss at 0.8932.
The pair slid lower and reached 0.8908.
The trade was closed at 0.8909, capturing 15 pips before any reversal appeared.
Strategy Tips
- Use major currency pairs with good liquidity to reduce spread and slippage.
- Trade during high activity periods such as the London or New York sessions, for stronger momentum.
- Avoid scalping during quiet sessions or around major news releases to reduce unpredictability.
- Keep stop losses small and take profit targets fixed to maintain consistent scalping results.
- Only enter trades when both indicators align to avoid emotional or impulsive trades.
- Track trades to see which pairs and timeframes provide the best results and refine strategy over time.
Download Now
Download the “jevel-histogram.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Length, Price) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Trend
