Absolute Strength Histogram – forex trend indicator
Forex indicator Absolute Strength Histogram is designed to determine the change of market trends and is a histogram, painted in red and green. Settings indicator forex Absolute Strength Histogram let you change the the method of calculating the moving average, view of histogram, signal type and price, as well as the smoothness of the histogram and the number of bars used to calculate the indicator.
Characteristics of Absolute Strength Histogram
Platform: Metatrader4
Currency pairs: Any, recommended major
Trading Time: Around the clock
Timeframe: Any
Recommended broker: Roboforex, XM, Forex4you
Rules of trade by Absolute Strength Histo
As a signal to enter the market is considered a change of color histogram:
histogram bars turn green – the entrance to the Long trade;
histogram bars turned red – the entrance to the Short trade:
absolute-strength-histogram-trade-exemples
Thus it is necessary take into account the one feature of the appearance of signal indicator Absolute Strength Histogram. If a buy signal appears on indicator, is lower than the previous signal, such signal should be ignored. With the sell signals situation mirrored.
Absolute Strength Histogram settings
absolute-strength-histogram-settings
Mode = 0 – RSI method; 1 – Stoch method
Length = 9 – Period
Smooth = 1 – Period of smoothing
Signal = 4 – Period of Signal Line
Price = 0. Price mode : 0 – Close, 1 – Open, 2 – High, 3 – Low, 4 – Median, 5 – Typical, 6 – Weighted
ModeMA = 3 – Mode of Moving Average
Mode_Histo = 3
Absolute Strength Histogram Indicator can not be used as an independent source of signal. More appropriate and effective to use it as a filter in trend trading strategies.
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