Where can I get the Free DIBS Indicator for MetaTrader?

The Daily Inside Bar Set Up (DIBS) is something that is super easy to spot on a Forex chart if you use MT4 and have ever loaded a custom indicator.

My preferred DIBS indicator for MT4 is the DIBS version 1.0 indicator. You can download the indicator for free at the following link

http://www.forexfactory.com/showthread.php?p=3007282#post3007282

Just download the  “DIBSv1.0.mq4” file that appears on this post on the ForexFactory site and you can then just follow the standard steps for installing an indicator onto your MT4 platform.

How to set it up on your chart

You will need to adjust the settings on the indicator based on your Forex broker. Here are the settings I use for MT4 on Alpari-UK

1.       Show_IB: Set this to “True”

2.       Show_Daily_Open_Line: Set this to “True”

3.       Show_Remain_Bar_Time: You can set this to “true” or “false”, whatever you prefer

4.       Timezone_Offset: Set this to “7” for Alpari UK

The settings above coincide with the charts that appear in the DIBS Chart Books every week.

The 4th setting is the one that involves the most playing around since it depends on your Forex Broker. My aim is to have the Daily Open Line appear at 6AM local UK time (GMT in the winter / BST in the summer…..BST is just British Summer Time…which is just Daylight Savings Time for the UK). On other Forex brokers offering MT4 you want to find out what timezone they have set their MT4 server to, and from there you can adjust the setting in the DIBS indicator. For instance the MT4 server on www.forex.com is set to the GMT time zone all year-round, which means in the summer the indicator uses an offset setting of “5” and in the winter it uses “6”.

For more on the settings and the rules behind the DIBS Forex trading method, you can check out the free e-book

http://www.scribd.com/doc/57275426/FF4Numpties-Vol1-DIBS-eBook?secret_password=2ov3ej14gayd38roige1

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One Response to Where can I get the Free DIBS Indicator for MetaTrader?

  1. After reading your post i have a better understanding of what Where can I get the Free DIBS Indicator for MetaTrader? really is.Your post have the information that is helpful and very informative. I would like you to keep up the good work.

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