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Precision Trend Histogram

The Precision Trend Histogram indicator for MT4 identifies and displays trend direction and reversal zones. Indicator is easy to use and can be used in combination with other indicators to help traders make successful trades.

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Description

The Precision Trend Histogram indicator for MT4 is a custom indicator that analyses and displays market trend direction. It is optimized to analyze and display market trend conditions with better accuracy.

Thus, the indicator can be a valuable asset for scalpers, day/intraday, and swing traders because of its precision in reading and interpreting market trend conditions. Besides, it can also be used to find entry zones to join an already-established trend.

Furthermore, the indicator is very sensitive to price changes, which makes it an incredible trading tool that can assist traders in identifying potential trend-reversal zones. What’s more, the indicator is suited for beginners and experienced Forex traders.

Features of the Precision Trend Histogram Indicator

The indicator analyzes and displays the trend direction of the market using histogram bars. It suggests that a trend is bullish if the green histogram bars appear, while a bearish trend is when it displays the red bars.

Therefore, traders can look for buying opportunities when the indicator’s green bars appear or sell when it displays the red histogram bars. As stated above, traders can identify optimal zones to join an already established trend, in an up trend, for instance. To do this, wait for a retracement (depicted with red histogram bars) and look for a buy entry when the indicator displays green bars, which suggest a bullish trend continuation.

Benefits of Using the Indicator

  • Accurate Trend Identification: The indicator assists traders in identifying market trend direction with precision. Thus, it can potentially increase the success rates of traders in the financial market.
  • Trading Confluence: The indicator can be used as a confluence with price action/other technical indicators for making improved trading decisions.

Indicator Settings Description

The indicator comes with the following customizable settings:

Average period: Determines the indicator’s period for trend analysis.

Sensitivity: Determines the indicator’s sensitivity to change in price.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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