The Improved Directional Movement (DMH) indicator for Metatrader 5 is an enhanced version of the classic DMI indicator invented by J. Welles Wilder.
The DMH indicator appears in a separate chart window as a blue/orange colored line that oscillates above and below zero.
The indicator reveals trend direction as follows:
- A bullish trend occurs when the blue DMH line appears on the chart.
- A bearish trend occurs when the orange DMH line appears on the chart.
The following indicator inputs can be modified: DMH period, color change mode.
DMH works the best for scalpers and day trading during the most volatile trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames, Forex pairs and any other trade instrument.
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The following chart shows how the Improved Directional Movement (DMH) indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Improved Directional Movement (DMH) Indicator?
Find a simple trading example below:
- A blue DMH line is a bullish signal.
- Open a buy order and set the initial stop loss 3 pips below short-term support.
- Exit the buy trade before price reaches prior key resistance, or wait for a sell signal.
- An orange DMH line is a bearish signal.
- Open a sell order and set the initial stop loss 3 pips above short-term resistance.
- Exit the sell trade before price reaches prior key support, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the DMH.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration