This indicator is called the HAMA indicator. It draws blue and red bars directly on the Forex price chart.
A series of blue bars represent bullish pressure (up trending), while a series of red bars represent bearish pressure (down trending).
The indicator can be used on any currency pair and time frame.
Trading Signals
Buy: Wait for the first blue bar to appear.
Sell: Wait for the first red bar to appear.
Download
Download the HAMA.mq4 indicator.
Configurable Indicator Options
Colors
USD/JPY 30 Min Chart Example
How to install the Hama custom indicator in Metatrader 4?
- Download the HAMA.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.