DMI ADX Histogram Indicator for MetaTrader 4 Download - Free - [TFlab]

The DMI ADX Histogram Oscillator combines the two indicators ADX and DMI, helping traders in MetaTrader 4.

This indicator analyzes market trends (DMI) and trend strength (ADX); green histogram bars represent an uptrend, while red bars indicate a downtrend.

Indicator Table

Indicator in an Uptrend

In the price chart of the GBP/JPY currency pair, when the indicator's histogram turns green and crosses above the zero line, traders can enter a buy trade.

Additionally, after the histogram turns red, they can exit the trade.

Indicator in a Downtrend

In the image below, the price chart of the CAD/JPY currency pair is shown in a 1-hour timeframe.

When the histogram changes from green to red, it highlights a suitable selling zone for traders.

After the histogram turns back to green, traders can take the exit signal for the trade.

Indicator Settings

• Chart Theme: Background color of the chart;
• Ma Period: The calculation period for ADX, default set to 14.

Conclusion

The ADX Histogram Indicator is one of the popular indicators in MetaTrader 4.

It is designed to identify market trends and is used by traders as a practical tool.

Adding the DMI indicator to the ADX increases the credibility and strength of trend confirmation.

Additionally, traders can enhance their buy and sell trades using multiple timeframes (MTF) and leveraging the DMI ADX Histogram Indicator.