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

The DMI ADX Histogram Oscillator is a combination of the ADX and DMI indicators and is a practical tool among MetaTrader 4 oscillators.

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 turnsred, 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 theexit 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

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