Forex indicator Absolute Strength Histogram is designed to determine the change of market trends and is a histogram, painted in red and green. Settings indicator forex Absolute Strength Histogram let you change the the method of calculating the moving average, view of histogram, signal type and price, as well as the smoothness of the histogram and the number of bars used to calculate the indicator.
Characteristics of Absolute Strength Histogram
- Platform: Metatrader4
- Currency pairs: Any, recommended major
- Trading Time: Around the clock
- Timeframe: Any
- Recommended broker: Alpari
Rules of trade by Absolute Strength Histogram
As a signal to enter the market is considered a change of color histogram:
- histogram bars turn green - the entrance to the Long trade;
- histogram bars turned red - the entrance to the Short trade:
Thus it is necessary take into account the one feature of the appearance of signal indicator Absolute Strength Histogram. If a buy signal appears on indicator, is lower than the previous signal, such signal should be ignored. With the sell signals situation mirrored.
Absolute Strength Histogram settings
- Mode = 0 - RSI method; 1 - Stoch method
- Length = 9 - Period
- Smooth = 1 - Period of smoothing
- Signal = 4 - Period of Signal Line
- Price = 0. Price mode : 0 - Close, 1 - Open, 2 - High, 3 - Low, 4 - Median, 5 - Typical, 6 - Weighted
- ModeMA = 3 - Mode of Moving Average
- Mode_Histo = 3
Absolute Strength Histogram Indicator can not be used as an independent source of signal. More appropriate and effective to use it as a filter in trend trading strategies.
In the archive Absolute_Strength_Histogram.rar:
- Absolute Strength Histogram.ex4
Free Download Absolute Strength Histogram