Bollinger Histogram Forex Scalper Metatrader 4 Indicator

The Bollinger Histogram Forex scalper MT4 indicator provides excellent trading signals for scalping and day trading the currency market.

The indicator shows up as an histogram styled trading indicator that appears in a sub-MT4 trade window.

Moreover, it uses colored buy/sell dots that appear above and below the histogram bars.

Key Takeaways

  • The Aqua colored Bollinger Band dots represent a rising currency market.
  • The Magenta colored Bollinger Band dots represent a falling currency market.
  • Easy to trade, even for beginners.
  • Deploy for scalping and day trading pairs.

Read below how to open buy and sell trades with the Bollinger Histogram Forex scalper Metatrader 4 indicator.

Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.

Download This MT4 Forex Indicator Free

Download the “bb-histogram-indicator.ex4” Metatrader 4 indicator

Bollinger Histogram Forex Scalper Indicator Chart

Here’s an example (GBP/USD H1 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.

Attach the indicator to any currency pair and time frame of your preference.

Finding Buy and Sell Signals With The Bollinger Histogram Forex Scalper Indicator 

Below is an example of how to buy and sell currency pairs with this Forex indicator:

Buy Trigger: Initiate a buy trade order when the scalper indicator draws its first Aqua dot on the chart.

Place your initial stop loss 2 pips below short-term support, or use your own favorite SL method.

Close the buy trade when a Magenta sell dot appears on the chart (bearish trend reversal signal).

Alternatively, close the buy trade for a fixed profit target, for example +12 pips on the M1 scalping chart.

Sell Trigger: Initiate a sell trade order when the scalper indicator draws its first Magenta dot on the chart.

Place your initial stop loss 2 pips above short-term resistance, or use your own favorite SL method.

Close the sell trade when an Aqua buy dot appears on the chart (bullish trend reversal signal).

Alternatively, close the sell trade for a fixed profit target, for example +20 pips on the M5 intraday chart.

Download This Forex Indicator Now

Download the “bb-histogram-indicator.ex4” MT4 indicator

Adjustable Parameters

Bollinger period, color, width, style.

Usage

The indicator can be deployed as a standalone trading system or strategy.

It can also be combined with:

  • Trading oscillators (MACD, Stochastic, RSI,…)
  • Price action methods and techniques

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: Bollinger Bands

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

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