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HomeForex MT4 IndicatorsJurik Smooth Histogram MTF Indicator

Jurik Smooth Histogram MTF Indicator

Introduction to the Jurik Smooth Histogram MTF Indicator

The Jurik Smooth Histogram MTF Indicator is a simple forex trend oscillator that helps to understand the current market momentum and notifies you of possible changes in the market trends. It uses histogram bars to display its trade signals. The developer of the Jurik Smooth Histogram placed emphasis on both the simplicity and the quality of signals. Therefore, this Smooth Histogram can be a great help for the new trend-oriented forex traders. It is an MTF indicator (multi time frame) so you can choose the time frame of provided signals.

The Jurik Smooth Histogram MTF Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

The Jurik Smooth Histogram MTF Indicator displays green and red histogram bars. It’s a bit tricky because red histogram bars indicate bullish trend momentum, and conversely, green histogram bars indicator bearish trend momentum. We suggest pairing that indicator with some other technical analysis tools to improve the trade signal accuracy.

Buy Signal

Follow these steps for a long trade:

  • The Jurik Smooth Histogram MTF oscillator bars turn red
  • Then wait for a bullish candle to occur
  • At this moment price swings higher from recent low swing
  • Buy trade is triggered after the above conditions are met
  • Set stop loss a few pips below the last low point of the market
  • Take profit or exit trade whenever the Jurik Smooth Histogram MTF provides opposite signal or use your own preffered method of trade exit

Jurik Smooth Histogram MTF Indicator Example of Buy Trade

Sell Signal

Follow these steps for a short trade:

  • The Jurik Smooth Histogram MTF oscillator bars turn green
  • Then wait for a bearish candle to occur
  • At this moment price swings lower from recent high swing
  • Sell trade is triggered after the above conditions are met
  • Set stop loss a few pips above the last high point of the market
  • Take profit or exit trade whenever the Jurik Smooth Histogram MTF provides opposite signal or use your own preffered method of trade exit

Jurik Smooth Histogram MTF Indicator Example of Sell Trade

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

How to set up the Jurik Smooth Histogram MTF indicator in MT4?

Installation Guide

Download the Jurik Smooth Histogram MTF.rar archive at the bottom of this post, unpack it, then copy and paste the Jurik Smooth Histogram MTF.ex4 or Jurik Smooth Histogram MTF.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.

Bottom Line

The Jurik Smooth Histogram MTF 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, 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.

Jurik Smooth Histogram MTF Indicator Free Download

To download the Jurik Smooth Histogram MTF Indicator for Metatrader 4 (MT4) for free just click the button below:

Jurik Smooth Histogram MTF Indicator Free Download

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