Overview of the Indicator
Precision Trend histo (mtf + arrows) 1.00 is a histogram-based trend indicator designed to highlight directional bias and momentum shifts. It displays colored histogram bars in a separate window, making it easy to see when the market is in a bullish or bearish phase.
The indicator can also generate arrows directly on the main chart, providing clear visual signals when trend conditions change. With multi-timeframe support, it can reflect trend direction from higher timeframes while trading on a lower one.
How to Use It in Practice
When the histogram changes color from bearish to bullish, it suggests that upward momentum is strengthening. A shift from bullish to bearish indicates growing downside pressure.
Traders can use the histogram as a trend filter, taking trades only in the direction of the dominant color. The optional arrows can serve as entry triggers, especially when aligned with higher timeframe direction.
Parameters
Time frame
Defines which timeframe the indicator uses for its calculations. It can be set to the current chart timeframe or a higher timeframe for multi-timeframe analysis.
Precision trend period
Controls the lookback period used to calculate the trend component. Shorter values make the histogram more responsive, while longer values smooth the output.
Precision trend sensitivity
Adjusts how sensitive the indicator is to price changes. Higher sensitivity produces more frequent color shifts and signals.
Show arrows?
Enables or disables arrow signals on the main chart.
Arrows ID
Specifies the internal identifier used for arrow objects. This helps manage or differentiate arrows from other chart objects.
Arrows drawn on newest bar of higher timeframe
Determines whether arrows are plotted based on the most recent bar of the selected higher timeframe.
Arrows up color
Sets the color of bullish arrows.
Arrows down color
Sets the color of bearish arrows.
Arrows up code
Defines the graphical style or symbol used for upward arrows.
Arrows down code
Defines the graphical style or symbol used for downward arrows.
Arrows up size
Controls the size of the upward arrow symbols displayed on the chart.
