The free Coeffoline Histogram Metatrader 4 indicator is a reliable histogram oscillator that delivers profitable trading signals for scalpers, day and swing traders.
It is a sub-window type indicator that displays red histograms alternating around the zero-horizontal level.
Generating signals on the Coeffoline Histogram indicator is easy and quite straightforward.
The basic requirement is to ensure you closely watch how the indicator will align above or below the zero level.
Key Takeaways
- In order to fully understand how the market works and also derive the right trading insight, more attention should be given to the way in which the histograms position itself above or below the zero-horizontal level of the Coeffoline Histogram indicator.
- The first red histogram that is seen above/below the zero-horizontal level sparks the start of a bullish/bearish market trend.
- The Coeffoline Histogram indicator does not offer fixed maximum and minimum levels; therefore, histograms are seen to float around zero center level towards the positive and negative points.
- It is possible to gauge rising/falling trends when the histograms show consecutive peaks/troughs respectively.
Feel free to explore the Coeffoline Histogram indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “coeffoline-histogram.ex4” Metatrader 4 indicator
Coeffoline Histogram Forex Signals Indicator Chart (EUR/GBP H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Coeffoline Histogram MT4 Signals Indicator
Buy Signal: Go long when the Coeffoline Histogram MT4 indicator prints red histograms that are positioned above the zero-horizontal level. The Ichimoku Kinko Hyo indicator also prints a sandy-brown cloud below the price bars.
Sell Signal: Go short when the Coeffoline Histogram indicator prints red histograms that are positioned below the zero-horizontal level. The Ichimoku Kinko Hyo indicator also prints a thistle cloud above the candlesticks.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Coeffoline Histogram indicator pops up a red histogram below the zero-horizontal level. Else, the Ichimoku Kinko Hyo indicator prints a thistle cloud.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Coeffoline Histogram indicator pops up a red histogram above the zero-horizontal level. Else, the Ichimoku Kinko Hyo indicator prints a sandy-brown cloud.
Tips: The Coeffoline Histogram indicator shows enormous potential for raking in profits.
Traders from diverse background can infuse this indicator into their trading regardless of them being day traders, scalpers or even swing traders.
Download This Forex Indicator Now
Download the “coeffoline-histogram.ex4” MT4 indicator
Adjustable Parameters
Ndot, count bars.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.