Solar Wind Joy Histogram Indicator

MT4

The Solar Wind Joy Histogram indicator for MT4 is a trend-following technical tool with an algorithm that tracks data of past price action to predict a potential trend reversal zone.

CATEGORIES: MT4, OSCILLATOR, TREND

Description

The Solar Wind Joy Histogram indicator for MetaTrader is a trend-following technical tool with an algorithm that automatically analyzes data of past price action to predict a potential trend reversal zone. It was built with histogram bars that display the trend direction of the market and also a tool that detects a potential change in the trend direction.

How do you use a Solar Wind Indicator?

The signal of this indicator is pretty easy to read and interpret. The zero line defines the trend into bullish and bearish biases; the price above/below the zero line suggests a bullish/bearish bias, respectively. Furthermore, the short golden line depicts a potential change in the trend direction. Finally, the lime green/red histogram bars depict bullish/bearish sentiments, respectively.

How to Trade with The Solar Wind Joy Histogram Indicator

The above image depicts the action of the indicator on the EURUSD currency pair in the H4 time frame. It demonstrates how to harmonize price action with the indicator’s signal to identify a high-probability trade setup.

Firstly, the image shows that the EURUSD pair is in a strong uptrend. Secondly, the bullish engulfing candlestick pattern suggests that the price may likely resume the uptrend, which incidentally coincides with the short golden line of the indicator that also signals a potential change in the trend.

The essence of using the indicator in sync with price action is to help filter out false signals, which in turn increases the winning rate.

CONCLUSION

The Solar Wind Joy Histogram Histogram indicator for MT4 is recommended for novice, intermediate, and advanced forex traders. Moreover, it is also ideal for scalpers, day/intraday, and swing traders.