Rajesh Sharma
Writer: Rajesh Sharma
Davit Kvaratskhelia
Reviewer: Davit Kvaratskhelia
Published:
Modified:
759

Better DMX Jurik Histogram Indicator for MetaTrader 4 Download - Free - [TFlab]

TradingViewMetaTrader4MetaTrader5
$4FreeFor a limited time
Categories:
MetaTrader 4 Indicators, Indicators, Currency Strength Indicators for MT4, Trading Assist Indicators for MT4, Oscillators Indicators for MT4
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Better DMX Jurik Histogram Indicator for MetaTrader 4 Download - Free - [TFlab]
Better DMX Jurik Histogram Indicator for MetaTrader 4 Download - Free - [TFlab] 0
Better DMX Jurik Histogram Indicator for MetaTrader 4 Download - Free - [TFlab] 1
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41
759
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Published:
Modified:

The Better DMX Juric Histogram Indicator is one of the advanced indicators in MetaTrader 4 that combines the Directional Movement Index (DMX) to simplify and enhance the accuracy of market trend analysis.

This oscillator features a colored histogram in its own window that displays trend changes through color shifts: green for bullish trends and red for bearish trends.

The indicator includestwo moving averages (MA): ablue moving average (faster) and an orange moving average (slower).

Indicator Specifications

The following table summarizes the specifications of the indicator:

Category

Trading Tool - Strength - Oscillator

Platform

MetaTrader 4

Skill Level

Intermediate

Indicator Type

Continuation - Reversal - Lagging

Timeframe

Multi-timeframe

Trading Style

Intraday - Mid-term

Market Type

All markets

Bullish Trend

The image below demonstrates the USD/CAD pair on the H4 timeframe. When the blue line crosses above the orange line, traders interpret it as a buy signal.

Better DMX Jurik Histogram Oscillator in a Bullish Trend.
The blue line crossing above the orange line acts as a buy signal in the Better DMX Jurik Histogram Oscillator

Bearish Trend

The GBP/CHF pair on the H1 timeframe showcases the indicator's performance in a bearish trend.

After forming histogram bars in the positive phase (above zero), if the blue line crosses below the red line, traders can interpret this as a sell signal.

Better DMX Jurik Histogram Oscillator in a Bearish Trend.
The blue line crossing below the red line indicates a sell signal in the Better DMX Jurik Histogram Oscillator

Indicator Settings

The following are the detailed settings for the Better DMX Jurik Histogram:

Settings of the Better DMX Jurik Histogram Oscillator.
Detailed settings of the Better DMX Jurik Histogram Oscillator for customization and precision adjustment
  • Chart Theme: Background theme of the indicator
  • DMX Period: Calculation period for the DMX
  • DMX Phase: Parameter for precision adjustment
  • DMX Double: Recalculates DMX values
  • Smooth Period: Number of periods for smoothing calculation
  • Smooth Phase: Phase value for applying smoothing
  • Smooth Double: Applies smoothing values in two steps
  • Signal Period: Number of periods for signal line calculation
  • Signal Phase: Phase value for adjusting the signal line
  • Signal Double: Two-step signal line calculation
  • Over Bought: Overbought levels
  • Over Sold: Oversold levels
  • Look Back: Number of candles used in the indicator's calculations

Conclusion

This indicator is suitable for all timeframes and financial instruments and offers high flexibility in its settings, allowing traders to customize it according to their trading strategies.

It is particularly effective for mid-term and long-term strategies and performs better in volatile markets.

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FAQs

Can this indicator be used in all timeframes?

Yes, this indicator works across all timeframes but tends to have lower error rates on higher timeframes.

Is this indicator useful for identifying entry and exit points?

Yes, traders can identify these points using strong green or red bars and the oscillator's line crossings.

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