The Awesome Accelerator Histo MTF indicator is a trading algorithm based on the modification of the standard forex indicator Awesome accelerator. The calculations, as in the case of the standard version, are aimed at determining the current trend, namely its force and direction, which in turn allows determining the moment of opening a certain trade. The indicator is presented in the lower window of the graphic in the form of a histogram with four colors. Depending on the current market conditions, the histogram changes its color, thus determining the trend of the market, taking into account of which the trades are opened.
The Awesome Accelerator histo mtf indicator is suitable for trading any currency pairs, on any timeframe, while the indicator is also suitable for use in multi-timeframe mode.
The settings of the Awesome Accelerator histo mtf indicator consist of several sections, each of which is responsible for the general functioning of the indicator. Input parameters - the section responsible for its technical work, the Colors section is responsible for its general visualization, and the Levels section is used to add signal levels to the indicator window.
-TimeFrame - parameter for using the trading timeframe. By default, it has the Current time frame value.
-MaMethod1 - type of smoothing of the first moving average of the indicator. The default value is 0.
-MaPeriod1 - fast moving average period of the indicator. The default value is 5.
-MaPrice1- price type, based on which the fast moving average is calculated. The default value is 4.
-MaMethod2 - type of smoothing applied to the slow moving average of the indicator. The default value is 0.
-MaPeriod2 - calculation period of the second moving average of the indicator. The default value is 34.
-MaPrice2 - the type of price for which the slow moving average is calculated. The default value is 4.
-HistogramOnSlope - parameter to have a histogram on slope. Default value is true.
-alertsOn - whether to be notified when an alert is received. Default is true.
-alertsOnZeroCross - signal parameter when the histogram crosses level 0. The default value is true.
-alertsOnSlope - Slope alert setting. Defaults to true.
-alertsOnCurrent - signal parameter on the current bar. The default value is false.
-alertsMessage - notification parameter in the form of a message in the main chart window. The default value is true.
-alertsSound - option to sound notification when an alert is received. The default value is false.
-alertsNotify - parameter to alert the mobile device. Default value is false.
-alertsEmail - Email notification parameter. Default value is false.
-soundFile - file to use for sound notification. Default is alert2.wav.
The Awesome Accelerator histo mtf indicator is easy to use, since the method of its application is similar to other histogram indicators. During trading, it is important to take into account only the strength and direction of the current trend, for this, in turn, the color of the histogram bars is taken into account.If the current trend is strong upward,long positions are opened and if the trend is strong downward,short positions. When the current trend changes or weakens, in both cases, trades are closed.
Signal for Buy trades:
- At least three bars of the histogram take on a color with growth value in a lighter shade.
Upon receipt of such a condition, a buy trade may be opened, due to the presence of a strong uptrend in the current market. It should be closed at the moment the current trend weakens, that is, when the color of the histogram bars changes. When the trend direction changes, one should consider opening new trades.
Signal for Sell trades:
- The histogram is colored in a light shade of color with a drop value.
A sell trade can be opened immediately upon receipt of such a condition characterizing the presence of a growing downtrend in the current market. A trade should be closed when the current trend weakens, and opening a new one should be considered at the moment of its change in direction.
The Awesome Accelerator histo mtf indicator is a very smart trading system that was developed on the basis of a forex indicator, the effectiveness of which has been proven by time. Although the indicator is extremely easy to use, it is recommended to practice on a demo account before trading on a real deposit.