Introduction to the Ehlers Histogram Oscillator Indicator
The Ehlers Histogram Oscillator indicator, as the name suggests, shows Ehlers signals in the form of histogram bars.
These signals are really easy to read: simply the blue bars mean opportunities for buy trades, and the red bars mean opportunities for sell trades.
The EHO can work as a filter for trade entries and exits.
That indicator is displayed in a separate window placed just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
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 to set up the Ehlers Histogram Oscillator indicator in MT4?
Copy and paste the ehlers-histogram-oscillator.ex4 or ehlers-histogram-oscillator.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 Ehlers Histogram Oscillator 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.
Ehlers Histogram Oscillator Indicator Free Download
To download the Ehlers Histogram Oscillator Indicator for Metatrader 4 (MT4) for free just click the button below: