the Magic Histogram index is a flexible tool acceptable for scalping and medium-term trading. This index uses an innovative formulation and allows you to ascertain the direction and strength of the trend. Magic Histogram does n’t redraw, which allows you to evaluate its efficacy on the background.
it is utilized on timeframes: M5, m15, M30, H1, H4.
- outstanding indicator signals!
- acceptable for novices and experienced traders.
- Flexible indicator settings, you can customize the indicator to match your trading style.
- It works on any timeframe.
- It works on any monetary instruments.
- Does n’t redraw.
- Sending signals to your email and mobile phone.
AUDUSD, EURUSD, USDCHF, EURJPY, NZDUSD.
Buy Signal: The indicator value has changed from negative to positive.
Sell signal: the indicator value has changed from positive to negative.
Magic Histogram provides us directly with a signal to enter a position. Thus, we need to calculate the size of the stop loss and take profit.
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- Period – the indicator calculation period (the main parameter). Increasing the value slows down the indicator, which leads to an improvement in the quality of signals and a decrease in their number. Reducing the value is more suitable for aggressive traders.
- Alert – enable or disable the Alert. If true-enabled, false-disabled.
- Email enables or disables sending messages to email. If true-enabled, false-disabled.
- Push enables, disables sending messages to the mobile phone. If true-enabled, false-disabled.
- Type of signal-this setting is responsible for the time when the signal is sent for Alert, Email, and Push. Type of signal takes the values current bar (sending a message when a signal appears on the current bar) or last bar(sending messages when a signal appears on the last bar).
- ColorUP – the color of the histogram for purchases.
- ColorDN – the color of the histogram for sales.
- Width – the thickness of the histogram.
Evgeny Belyaev is a professional programmer and a successful trader.