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Xmaster Formula

5/5 - (1 vote)

Behind the scenes, the Xmaster Formula Indicator combines moving averages with RSI and MACD. The output is a clear buy/sell arrow and a bullish or bearish trend indicator.

The indicator works well for new and experienced forex technical traders who use any trend-following trading strategy. The indicator is suitable for all intraday charts, as well as daily, weekly, and monthly charts. The indicator is also free to download, and it’s easy to install.

Xmaster Formula Indicator for MT4 Trading Signals

Xmaster Formula

The indicator can be used by forex traders to track the trend. They can then place a buy order when the yellow arrow is formed in the upward direction. The trader can confirm the signal only when the indicator shows time-colored dots. The stop loss is set below the previous low in this forex technical trading technique, and the exit is the next opposite signal arrow.

Similarly, the appearance of yellow downward arrows indicates the beginning of a bearish trend. Forex traders should then place a sell trade. The trading signal should also meet the criteria of red dots. The best place for a stop-loss is above the swing high of the previous trading signal. Profit booking is done at the opposite trading arrow.

The forex trader can get the best results by confirming the trading signal both with the arrow color and the dot color. In some cases, both signals may not be visible simultaneously. The trader will need to wait until the other signal appears.

The Xmaster Formula indicator for MT4 has a trend-following feature, which means that it gives the best results when forex traders trade with multiple time frames (mtf). The trader’s best interests are served by following the trend on the higher timeframe and identifying the best entry points in the lower timeframe chart.

Conclusion

The Xmaster Formula indicator for MT4 follows trends and therefore provides the best results to trend followers. The indicator’s simplicity with its color dots and arrow signals is a great help to traders who are looking for less clutter on their price charts. Forex traders should take into consideration the proximity of the buy and sell arrow trading signals to any established trendlines or zones, as well as resistance and support zones. Forex traders can also download and install the indicator easily.