Jurik Smooth Histogram MTF Indicator
Platform: MT4 Type: Momentum Last update: September 29, 2024The Jurik Smooth Histogram MTF Indicator for MT4 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.
How to use jurik smooth histogram in practice?
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
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
