The Wilder’s DMI Signals Histogram Forex indicator for Metatrader 4 is solely based on the DMI indicator and provides buy & sell signals on the chart.
The indicator does all the hard work for you and transforms the DMI trading method into solid buy & sell signal arrows.
After you have downloaded and installed the indicator on the MT4 trading platform, it should look like the image shown below.
Key Features
- Based on the DMI technical indicator
- Follows the trend
- Good for entry & exit points
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a trend confirmation tool.
Free Download
Download the “Wilders dmi histogram.mq4” MT4 indicator
Example Chart
The GBP/USD 30-minute chart below shows Wilder’s DMI Signals Histogram technical indicator in action.
Basic Trading Signals From Wilder’s DMI
BUY:
- Open a buy position when the green Wilder’s DMI signals arrow gets printed on the chart.
- Place a stop loss below the previous swing low price.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- Open a sell position when the red Wilder’s DMI signals arrow gets printed on the chart.
- Place a stop loss above the previous swing high price.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download Now
Download the “Wilders dmi histogram.mq4” MT4 indicator
Wilder’s DMI + Forex Gump Indicator Strategy
This strategy combines the trend strength analysis of Wilder’s DMI Signals Histogram Indicator with the multi-timeframe signal precision of the Forex Gump Indicator.
Together, they offer high-confidence trade signals and help filter out choppy or false entries.
How the Indicators Work Together
- Wilder’s DMI Histogram measures the strength and direction of the trend using the Directional Movement Index (DMI). When the histogram bars are green and rising, the bullish trend is strengthening; red and falling indicate bearish strength.
- Forex Gump generates real-time buy/sell signals based on price action and volatility, making it ideal for fast entries during strong market moves.
Recommended Settings
- Timeframes: M15, M30, H1
- Pairs: EUR/USD, GBP/USD, USD/CAD, AUD/JPY
Buy Setup
- Wait for the Wilder’s DMI Histogram to show green bars increasing in height.
- Confirm a Buy signal from the Forex Gump Indicator (typically a green arrow or buy message).
- Enter a buy position immediately after both signals align.
- Place a stop loss below the recent swing low or previous Gump signal line.
- Set your take profit at 1.5x to 2x the risk or exit when DMI bars turn red.
Sell Setup
- Wait for the Wilder’s DMI Histogram to show red bars increasing in height.
- Confirm a Sell signal from the Forex Gump Indicator (typically a red arrow or sell message).
- Enter a sell position after both indicators agree.
- Place a stop loss above the recent swing high or previous resistance level.
- Set your take profit at 1.5x to 2x the risk or exit when DMI bars turn green.
Strategy Pro Tips
- Use this strategy during high-volume sessions like London or New York for better accuracy.
- Do not trade against strong DMI momentum, even if Forex Gump signals appear.
- Combine this strategy with support and resistance levels for additional confirmation.
Adjustable Parameters & Settings
Time frame, DMI length, show ZDX, show ADXR, level, alerts, show arrows, colors, style
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: trend
How to install Wilder’s DMI Signals Histogram indicator in Metatrader 4?
- Copy and paste the Wilders dmi histogram.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
