This indicator is called the Gann HiLo activator bars. Blue colored bars represent bullish strength while red bars represent bearish strength.
Buy signal: Wait for a blue Gann bar to appear.
Sell signal: Wait for a red Gann bar to appear.
Use in conjunction with other indicators or trend analysis tools.
Configurable Indicator Options
GBP/USD Daily Chart Example
How to install the Gann HiLo custom indicator in Metatrader 4?
- Download the Gann HiLo activator bars.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.