Another nice indicator that is capable of detecting the trend changes and showing the current trends strength and direction was added to the list of MT4 indicators on my site. Its a histogram indicator, meaning that it doesnt trash your chart but rather displays itself in a separate window below the main chart window. Histogram uses lines to mark each bar of the chart directly below that bar. The red color is used for the downtrend and the green is used for the bullish trend. The length of the line signifies the strength of the tend — the longer are the lines the stronger is the trend. If the lines are becoming shorter and shorter then the trend change is probably near. You can read more about this trend histogram indicator and also download it for free:
If you have any questions or interesting thoughts regarding this histogram indicator for MT4, please, feel free to reply using the form below.