BB Histogram Forex Indicator is a histogram based trading indicator. BB Histogram can be highly profitable on a consistent basis if used properly. This tool works best in trending market conditions. It is useful in swing trading and scalping. BB Histogram Indicator works on any time frame larger than 5 minute.
When you install BB Histogram indicator in your trading platform, your chart should look like this:
BB Histogram Indicator consists of a histogram and blue and pink dots. When the histogram is positive it indicates bullish market conditions and when the histogram is in negative territory it indicates bearish market conditions. The blue dots of this indicator indicate bullish market conditions and the pink dots indicate bearish market conditions. You are likely to win a trade when you place your trade in the direction of a trending market. For example, if the market is up trending, you should look for buying opportunities only and you should look for short opportunities only when the market is down trending.
Buying Conditions Using BB Histogram Indicator.
Market should be up trending.
Market should be bouncing from the recent support.
BB Histogram indicator should be positive.
Blue dots should appear above the histogram.
Place your long position as soon as above conditions are met.
Place your stop loss below the recent support.
Take your profit when the histogram turns negative.
Selling Conditions Using BB Histogram Indicator.
Market should be down trending.
Market should be falling from the recent resistance.
BB Histogram indicator should be negative.
Pink dots should appear below the histogram.
Place your short position as soon as above conditions are met.
Place your stop loss above the recent resistance.
Take your profit when the histogram turns positive.
Forex Indicators Download – Instructions
BB Histogram Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
BB Histogram Forex Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
Do the same with template file (.tpl), if there is any, at File/Open Data Folder/templates.
How to install BB Histogram Forex Indicator.mq4?
- Download BB Histogram Forex Indicator.mq4
- Copy BB Histogram Forex Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on BB Histogram Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator BB Histogram Forex Indicator.mq4 is available on your Chart
How to remove BB Histogram Forex Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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