Force Index Histogram (MT4)

Force Index Histogram visualizes Elder’s Force Index — a blend of price change × volume — as a smooth histogram with zero‑line bias and optional signals/alerts. It helps you read momentum thrusts vs. pullbacks with volume context in MetaTrader 4.

What it shows

• Histogram above/below zero line — defines bullish/bearish pressure.
• Smoothing (EMA/TEMA or built‑in) for cleaner swings.
• (Optional) arrows/alerts — zero‑cross, extremes, slope flips.

Trade ideas

1. Zero‑line bias: prefer longs while the histogram is above zero and rising; shorts while below zero and falling.
2. First pullback after flip: after a new zero‑cross, take the first shallow pullback that holds the bias.
3. Exhaustion vs continuation: fade short spikes against trend or join re‑acceleration after a mid‑zone reset.
4. (Optional) Divergence (price makes new high/low, histogram does not) — early caution; seek confirmation.

Inputs that matter

• Period / smoothing type — responsiveness vs smoothness.
• Price source — Close/HL2/Typical/Weighted.
• Alerts — zero‑cross, extremes, slope change.
• Colors/widths — quick visual read.

Suggested usage

• M5–M15: intraday momentum rotations.
• M30–H4: swing continuation with zero‑line filter.
• Daily+: portfolio bias filter.

Installation (MT4)

1. Open MetaTrader 4 → File → Open Data Folder.
2. Copy force_histo.ex4 to MQL4/Indicators.
3. Restart MT4 (or refresh Navigator) and attach Force Index Histogram.
4. Tweak inputs → OK.

FAQ

Does it repaint? No on closed bars.
Use in EAs? Yes, via iCustom.
Markets? FX, indices, metals — anything on MT4.

Disclaimer: Test on a demo account first; risk management is essential.