TVI is already popular as an Indicator now with Histogram added option. TVI Histogram Indicator for MT4 is for everyone who likes Histogram style more then normal TVI Indicator.
This Indicator can be used on all timeframes even the short ones 1m or 5min but best results are on higher timeframes like 1h or 4h or even daily timeframes.
When using TVI Histogram Indicator you should make sure you do not use it alone. It should always be combined with other popular indicators such as Moving Average or RSI. TVI was designed with minimal LAG in mind and it is much faster then for example Moving Average. TVI Histogram Indicator will repaint on the current bar but once the bar closes it will not repaint anymore.
When looking for trades you should consider entering LONG trades when TVI Indicator is above zero and rising (green). And looking for SHORT trades when TVI Histogram Indicator is below zero and falling (red) line.
This are the available settings for TVI Histogram Indicator:
- r: select MA1 period
- s: select MA2 period
- u: select u settings
- SendAlert: Enable or Disable alert for TVI Histogram Indicator
How to install TVI Histogram Indicator in MetaTrader 4 / MT4:
- Download/Copy/Save the MQ4/EX4 file into your C:\Program Files\MetaTrader 4\experts\indicators folder (or change the folder to your installation sometimes forex broker name)
- Restart your MetaTrader 4 application (assuming it’s currently open) … or Launch your MetaTrader 4 application
- On the left hand side, look for the “Navigator” window and under the “Common” tab, look into the “Custom Indicators” section
- Locate the indicator which you have just downloaded into the folder stated in Step 1
- Drag (Click and drag) the indicator onto the chart
- Choose your settings and click OK.
- TADA and your done!