The Trading The Forex Trend indicator for Metatrader 5 attempts to deliver profitable buy and sell signals based on trend histogram bars.
The indicator pops up in a bottom chart as an array of blue and brown colored trend-following histogram bars.
It never repaints the bars and should work equally well for any time frame that can be traded in MT5.
Understanding the Trading The Forex Trend indicator:
- A blue trend bar signals a buy trade.
- A brown trend bar signals a sell trade.
- The indicator is always active in the currency market.
The following indicator inputs and parameters can be modified: look back period, multiplier, channel shift.
Scalpers and day traders will benefit the most from this indicator during the most volatile trading sessions (London, New York).
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It supports all time frames and Forex pairs.
Free Download
Trading the trend – histogram.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Trading The Forex Trend Histogram indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Trading The Forex Trend Histogram Indicator?
Find a simple trading example below:
Buy Signal
- The first blue colored histogram trend bar generates a buy signal entry.
- Open a buy trade and place a stop loss order below technical support.
- Exit the buy trade for a fixed take profit or reverse the trade when the first brown colored histogram bar appears in the chart.
Sell Signal
- The first brown colored histogram trend bar generates a sell signal entry.
- Open a sell trade and place a stop loss order above technical resistance.
- Exit the sell trade for a fixed take profit or reverse the trade when the first blue colored histogram bar appears in the chart.
