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Magic Histogram

The Magic Histogram indicator is a universal tool, suitable for scalping and medium-term trading. This indicator uses an innovative formula and allows you to determine the direction and strength of the trend. Magic Histogram is not redrawn, so you can evaluate its efficiency using history data.

It is most suitable for M5, M15, M30, H1 and H4.


Indicator Benefits

  • Excellent indicator signals!
  • Suitable for beginners and experienced traders.
  • Using the flexible indicator settings, you can adjust the indicator to your trading style.
  • Works on all timeframes.
  • Works on any financial instrument.
  • Does not repaint/redraw.
  • Sending signals to email and mobile devices.


Recommended symbols

AUDUSD, EURUSD, USDCHF, EURJPY, NZDUSD.


Recommended Usage

A Buy signal: the indicator value has changed from negative to positive.

A Sell signal: the indicator value has changed from positive to negative.

Magic Histogram directly provides a position entry signal. Thus you only need to calculate appropriate stop loss and take profit values.

You may use the following products as an additional filter for the indicator: MA on Fractals and Psychological levels.


Parameters

  • Period - indicator calculation period (main parameter). Increasing the value slows the indicator down, which improves the quality of signals and reduces their number. Decreasing the value is more suitable for aggressive traders.
  • Alert - enable or disable Alerts. True - enabled, false - disabled.
  • Email - enable or disable email notifications. True - enabled, false - disabled.
  • Push - enable or disable push-notifications. True - enabled, false - disabled.
  • Type of signal - the setting is responsible for the signal to be sent by Alert, Email and Push. Type of signal can be equal to current bar (sending an alert when signal appears on the current bar) or last bar(when a signal occurred on the past bar).
  • ColorUP - the color of the histogram for Buy signals.
  • ColorDN - the color of the histogram for Sell signals.
  • Width - the width of the histogram.


Developer

Evgeny Belyaev - professional programmer and successful trader.

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