The ADX Candles indicator for Metatrader 4 measures trend direction and trend strength at the same time.
It’s a powerful indicator combination. The ADX Candles indicator changes color based on the combination of ADX and DMI.
You don’t need to calculate anything with this indicator.
Green colored candlesticks indicate bullish trends while red colored candlesticks indicate bearish trends.
I’d suggest play around with the ADX settings and find the ones that works best for you.
BUY: Wait for a green ADX candlestick.
SELL: Wait for a red ADX candlestick.
Configurable Indicator Options
ADXPeriod, ADXSignal, ADX_Plus, DI_Levels_Only, BarWidth
EUR/USD Daily Chart Example
How to install the ADX Candles custom indicator in Metatrader 4?
- Download the ADX Candles.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.