McClellan Histogram Expert Advisor Setup - Setting Up McClellan Histogram Expert Advisor
McClellan Histogram Expert Advisor Setup - Setting Up McClellan Histogram Expert Advisor - A trader can come up with an McClellan Histogram Expert Advisor based on the McClellan Histogram indicator explained below.
McClellan Histogram Expert Advisor rules can be combined with other indicators to come up with other EA Robots that trade using rules based on two or more indicators combined to form a system.
McClellan Histogram Analysis and McClellan Histogram Signals
The McClellan Histogram is a graphical representation of the McClellan Oscillator & its signal line. This difference between the two is plotted as a histogram.
This is an oscillator, the center line is the zero cross-over mark which is used to generate buy and sell signals.
McClellan Histogram - McClellan Histogram Expert Advisor Setup
Technical Analysis & How to Generate Signals
The Histogram is momentum indicator. Signals are generated using the center-line cross over method.
- Bullish signal- Above Zero
- Bearish Signal - Below Zero
There are two fundamental techniques for using this trading indicator to generate signals.
Zero-Level Crossover - When the histogram crosses above zero a buy signal gets generated. Otherwise, when the histogram oscillator crosses below the zero a sell signal gets generated.
Technical Analysis - McClellan Histogram EA Setup
Divergence Trading - divergence between this trading indicator & the price chart can prove to be very effective Forex strategy in spotting potential trend reversal signals and trend continuation signals.
