BB Histogram indicator is a histogram based forex trading indicator. BB histogram indicator is a very simple forex trading indicator. BB Histogram can be highly profitable in a consistent basis if properly used. BB Histogram works best in a trending market conditions and might work poorly in a sideways market. BB Histogram indictor can be useful to do swing trading and scalping. BB Histogram Indicator works on any time frame larger than 5 minute. This indicator can be used to trade all the markets worldwide.
When you install BB Histogram indicator in your trading platform, your chart should look like this:
- BB Histogram Indicator
BB Histogram Indicator consists of a histogram and blue and pink dots. When the histogram is positive it indicates bullish market conditions and when the histogram is in negative territory it indicates bearish market conditions. The blue dots of this indicator indicate bullish market conditions and the pink dots indicate bearish market conditions. You are likely to win a trade when you place your trade in the direction of a trending market. For example, if the market is up trending, you should look for buying opportunities only and you should look for short opportunities only when the market is down trending.
Buying Conditions Using BB Histogram Indicator.
- Market should be up trending.
- Market should be bouncing from the recent support.
- BB Histogram indicator should be positive.
- Blue dots should appear above the histogram.
- Place your long position as soon as above conditions are met.
- Place your stop loss below the recent support.
- Take your profit when the histogram turns negative.
Selling Conditions Using BB Histogram Indicator.
- Market should be down trending.
- Market should be falling from the recent resistance.
- BB Histogram indicator should be negative.
- Pink dots should appear below the histogram.
- Place your short position as soon as above conditions are met.
- Place your stop loss above the recent resistance.
- Take your profit when the histogram turns positive.
Download Free Forex BB Histogram Indicator
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