The Jurik Smooth Histogram MTF indicator for Metatrader 4 follows the trend and delivers more accurate buy & sell trading signals.
The indicator appears in a bottom chart window as a colored trend bar histogram.
For scalping, utilize this technical tool during the London and American trading sessions.
The Jurik Smooth Histogram MTF indicator produces more accurate buy & sell signals due to the smoothing factor (less false signals).
Buy & sell signal:
- A buy signal is given when the indicator draws the first red bar on the chart.
- A sell signal is given when the indicator draws the first green bar on the chart.
- Close the open trade when an opposite trading signal gets printed on the chart.
From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading strategies.
Try first on a demo account until you fully understand how this indicator works!
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar technical chart.
How to install the Jurik Smooth Histogram MTF indicator to your Metatrader 4 platform?
- Download the jurik-smooth-histogram-mtf.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration