Introduction to the Precision Trend Histogram Indicator
The Precision Trend Histogram Indicator is a simple histogram that displays signals based on the Precision Trend indicator. The best way to use that indicator is to define a general trend direction of the market. Therefore, you should treat it more as a filter, than a signal provider.
The Precision Trend Histogram 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.
Example trade with the Precision Trend Histogram Indicator
Below is the screenshot of an example trade with the Precision Trend Histogram Indicator.
As you can see, the Precision Trend Histogram bars switched from red to green. At the same time, the price made moves according to the direction suggested by the indicator.
How to set up the Precision Trend Histogram indicator in MetaTrader (MT4)?
Download the Precision Trend Histogram.rar archive at the bottom of this post, unpack it, then copy and paste the Precision Trend Histogram.ex4 or Precision Trend 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 Precision Trend 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Precision Trend Histogram Indicator
To download the Precision Trend Histogram Indicator for Metatrader 4 (MT4) for free just click the button below: