Technical Indicator Gann_HiloHisto is an indicator developed based on the well-known Gann theory. This tool is perfect for technical analysis, as it is characterized by a high level of accuracy and ease of use.
Gann_HiloHisto is a visually modified version of the common Gann Hilo indicator. It is believed that the perception and understanding of this version of the indicator is given to the trader much easier than the traditional Gann Hilo indicator.
You can download this version of the indicator for free at the link below.
The Gann_HiloHisto Forex indicator displays information in the form of a histogram, but the basis for each column of the histogram is the position of the price relative to the Gann Hilo indicator line (the line itself is not displayed on the chart). By and large, the Gann Hilo line is a modified moving average.
The main difference from the usual MA is that Gann Hilo is more responsive to price movements. If you compare it with a moving average, you can see that the intersection points of the line and the price chart practically coincide, but the Gann Hilo line moves away from the price a greater distance. In this way, the indicator minimizes random punctures.
Since the Gann_HiloHisto indicator is a tool for working with a trend, we recommend choosing the most volatile currency pairs to use it.
“Gann_HiloHisto” Indicator parameters:
This indicator has only one parameter that can be changed. It is called “Lb” and is responsible for the moving average period. By default, the “Lb” period is set to 10.
You can experiment with this value by choosing the most suitable parameter for your trading style and timeframe. The working algorithm of the tool is in its program code; for this reason, it is impossible to make any changes to it.
It is also worth noting that this indicator responds to trend changes more quickly than moving averages, which makes its readings more accurate.
To use the Gann_HiloHisto indicator, we recommend that you study the Gann theory in order to have an idea of the principles of constructing and changing indicator values. We also recommend using this tool in conjunction with other trend indicators. You can find some of the trading strategies which using the Gann theory with Gann_HiloHisto on our website in the Strategies section.
Download the “Gann_HiloHisto” MT4 Indicator from the button below
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