Absolute Strength Histogram Trend Indicator [MT4 Free Download]

The Absolute Strength Histogram indicator is a specialized algorithm for the rapid assessment of the current market situation. The main purpose of this algorithm is to identify the current trend direction, as well as generate signals to enter the market. The described algorithm can be successfully used both as the only tool based on the signals of which the trader will create successful positions and as a filter as part of the trading strategy. The described algorithm is a fairly universal tool since it is able to provide identical accuracy of the issued signals on almost any currency pair and time interval.

The ASH indicator is available for free download at the end of this page.

Indicator settings

Settings of ASH indicator has the following parameters:

• The Mode parameter is responsible for the signals of which particular indicator the algorithm in use will use. If you enter the number 1 in this field, then the considered algorithm will use the signals of the Stochastic tool included in its composition. In order for the algorithm under consideration to use the signals of the RSI tool, you need to enter the number 0 in this field.
• The Length parameter is responsible for the number of bars that the algorithm in question will use to perform all necessary calculations.
• The Smooth parameter is responsible for the level of smoothing that the algorithm in question will apply.
• The Signal parameter is responsible for setting the signal line, which the algorithm in question displays on the screen.
• The Price parameter is responsible for exactly what type of price level the considered algorithm will apply for all the necessary calculations.
• The ModeHisto parameter is responsible for the mode of displaying the histogram in the indicator window.

Indicator signals

The signal to enter the market is the histogram color change:

• The bar of the histogram turned green – buy entry;
• The bar of the histogram turned red – sell entry.

In this case, it is worth considering one feature of the appearance of the Absolute Strength Histogram indicator signals. If the buy signal that appears on the indicator is located below the previous signal, then such a signal must be ignored. With signals for SELL, the situation is a mirror.

Conclusion

We recommend using the ASH indicator in trending strategies and using it in combination with other filters. By default, the indicator parameter values are optimized for general use on various trading assets. For more accurate indicator operation, select finer settings for each trading asset separately.

Download the Absolute Strength Histogram indicator from the button below

Tip: Can’t open the downloaded archive file (ZIP or RAR)?

Try WinRAR for Windows or The Unarchiver for Mac .

Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.