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.
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.
How to install the Absolute Strength Histogram indicator on your Metatrader 4 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Absolute Strength Histogram indicator file into following folder of your Metatrader 4 platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on absolute-strength-histogram.mq4 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.
Absolute Strength Histogram Indicator MT4 Free Download.
To download the Absolute Strength Histogram Indicator for Metatrader 4 (MT4) for free just click the button below: