Introduction to the Babon Histogram Indicator
The Babon Histogram Indicator, as the name suggests, is a forex trading indicator that displays signals of Babon in the form of a histogram.
When bars are colored blue – it means that the current trend momentum is considered bullish. On the other side, when bars are colored red – it means that the current trend momentum is considered bearish.
The indicator is displayed in a separate window place just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Babon Histogram indicator in MT4?
Download the Babon Histogram.rar archive at the bottom of this post, unpack it, then copy and paste the Babon Histogram.ex4 or Babon Histogram.mq4 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 Babon Histogram indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free Forex MT4 Babon Histogram Indicator
To download the No Repaint Indicator for Metatrader 4 (MT4) for free just click the button below: