Envelopes Histogram Forex Signal Metatrader 4 Indicator

The Envelopes Histogram Forex Signal indicator for Metatrader 4 is a profitable buy/sell trend signal indicator that works on Envelopes and Moving Averages.

The indicator draws colored trend signal bars in a separate MT4 window.

It can be used as a standalone trading indicator or combined with oscillators (RSI, Stochastic,..) and price action.

Just load the Envelopes Histogram Forex Signal indicator onto the Metatrader 4 chart and start trading with it in minutes.

Key Takeaways

  • The trend is considered upwards whenever a green histogram trend bar gets printed on the chart.
  • The trend is considered downwards whenever a red histogram trend bar gets printed on the chart.
  • The trend is considered flat whenever a yellow histogram trend bar gets printed on the chart.
  • It does not repaint any trend bars.
  • Good for scalping, day trading and swing trading pairs.

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

Download This MT4 Forex Indicator Free

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

Indicator Example Chart (AUD/USD 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 Envelopes Histogram Forex Signal MT4 Indicator

Buy Signal: Open a buy trade whenever the first green bar gets printed on the histogram chart.

Set your stop loss below the previous swing low or consolidation area, or use your own favorite stop loss method.

Exit the buy position when a red trend bar appears on the chart, or use your own favorite take profit method.

Alternatively, close the buy trade for a reward/risk ratio of 1.5 or better.

Sell Signal: Open a sell trade whenever the first red bar gets printed on the histogram chart.

Set your stop loss above the previous swing high or consolidation area, or use your own favorite stop loss method.

Exit the sell position when a green trend bar appears on the chart, or use your own favorite take profit method.

Alternatively, close the sell trade for a reward/risk ratio of 1.5 or better.

Download This Forex Indicator Now

Download the “envelopes-histogram.ex4” MT4 indicator

Adjustable Parameters

Envelope period, Envelope MA period, upper price, lower price, deviation, colors, width, style.

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.

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