Introduction to the Absolute Strength Histogram Indicator
The Absolute Strength Histogram Indicator for MT4 is a technical forex indicator that draws green and red (buy and sell) colored histogram bars in a separate window below the main trading chart. These histogram bars are results of trend strength and moving average combination.
The simplified trading rules with ASH are the following:
- Green absolute strength histogram indicator price bars indicate the trend is upward and forex traders should look for buy trade opportunities.
- Red absolute strength histogram indicator price bars indicate the trend is downward and forex traders should look for sell trade opportunities.
For more reliable and accurate trading signals you can combine the Absolute Strength Histogram with some trend-following indicators, for example, the 100 simple moving average would be a good choice.
Related: Absolute Strength Oscillator MT4
How to set up the Absolute Strength Histogram Indicator in MT4?
Copy and paste the absolute-strength-histogram.mq4 or absolute-strength-histogram.ex4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Absolute Strength Histogram Indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Absolute Strength Histogram Indicator Non Repaint Free Download
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