DMI Oscillator Forex MT4 Indicator
The DMI Oscillator Forex MT4 Indicator is a great trend signals indicator that works out of the box.
It’s composed of 1 signal line that is based on the famous DMI indicator, developed by J. Welles Wilder.
It detects trending markets before the real move comes and keeps you out of losing market consolidations.
In back testing phase, the DMI Oscillator Forex indicator won 789 pips in one month on the major currency pairs.
Just load the DMI Oscillator onto the MT4 chart and start trading with it in minutes.
- A buy signal occurs when the DMI Oscillator changes color from gray to green. Buy now.
- A sell signal occurs when the DMI Oscillator changes color from gray to red. Sell now.
- Good win rate.
- Based on J. Welles Wilder’s popular DMI indicator.
- Works for scalping, day trading and swing trading.
Feel free to explore the DMI Oscillator Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The DMI Oscillator MT4 Forex Indicator
Buy Signal: Execute a buy trade when the signal line changes color from gray to green. The trend is now considered bullish.
Set your stop loss below the previous swing low price, or use your own favorite SL method.
Take your profit when the green signal line changes color to red (sell signal), or use your own favorite take profit method.
Sell Signal: Execute a sell trade when the signal line changes color from gray to red. The trend is now considered bearish.
Set your stop loss above the previous swing high price, or use your own favorite SL method.
Take your profit when the red signal line changes color to green (buy signal), or use your own favorite take profit method.
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DMI period, DMI smoothing method, smoothing period, signal period, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.