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DMI ADX Histogram Indicator for MetaTrader 5/4 Download - Free - [TFlab]
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Key takeaways
The video discusses the ADX DMI Histogram Indicator for MetaTrader 4 and 5, which can be downloaded for free from the Trading Finder website. It explains how to apply the indicator to a trading chart by selecting the indicator file from the Navigator section and dragging it onto the chart, ensuring that the "allow DLL imports" option is checked.
Key Features of the ADX DMI Histogram Indicator
- It is an advanced version of the classic ADX indicator.
- The histogram displays green and red values to indicate positive and negative oscillators, respectively. A green histogram indicates the positive line is above the negative line, while a red histogram indicates the opposite.
- The orange line represents the ADX line, which indicates trend strength.
The settings section allows users to customize the display with three template options: light, dark, and custom. Users can also adjust the indicator period settings, which default to 14 but can be changed (e.g., to 21) as demonstrated in the video.
The tutorial concludes by inviting viewers to share their comments and suggestions in the comments section.
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