Xmaster formula mt4 indicator 2020
XMaster formula MT4 indicator 2020, is one of the many types of indicators in forex trading.
The best and is a simple easy indicator in helping traders make analyses and decisions in trading.
Xmaster indicator mt4 formula can work in all timeframes and in all trades.
Both in forex and crypto trading, or another financial trading market.
This indicator is useful for traders with trend following styles, with possible signals on trend changes and also measuring the strength of the trend.
It can even newbie be using indicator because of its simplicity in use.
XMaster formula indicator mt4 is more for intraday trading, and it is better to use the M30, H1, and H4 timeframes within the MT4 trading terminal.
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Xmaster formula indicator mt4 overview
After you call this indicator it will appear in a new window on a separate chart below the main trading chart.
Take a look the image below for Xmaster formula indicator overview
The indicator display consists of green and red dots arranged in the form of wavy lines.
These dots follow market trends.
The main signal of this indicator is usually with yellow color.
The green dots indicate that the market price is an uptrend.
While the red dots indicate that the market price is in a downtrend.
Keep in mind that green dots are usually thinner than red dots.
This will make it easier for traders to recognize trends and remember the rules of this color will not be wrong to determine a bullish or bearish trend.
XMaster formula indicator explained
Simply put, this indicator is perfect for newbies, it appears in a new window where the waves follow the market trends that occur then this indicator is a trend following.
Buy signals and sell signals are given by indicators of the appearance of the yellow arrows.
In the image above we see that the signal marked by a yellow arrow will appear if the green dot turns red, or vice versa from red turns blue.
Very simple, so that not only professionals use even a newbie can use.
Although simple, this indicator should not be the only indicator used.
Combining with other indicators can provide better signals, because if you rely on the Xmaster formula indicator alone, then the signal that will appear takes a longer time.
After a signal appears from this indicator, it takes quite a long time to wait for the next signal to appear.
But using this indicator alone can also do it, it just requires more patience.
This is because the indicator gives a very rare signal and it takes time before giving another signal.
Therefore if the trader fulfills the indicator having given the signal four bars before, he might be confused about whether to order or not.
But if you combine other indicators, it will be easier to find out whether the signal that the Formula Xmaster indicator has been given is still valid or it is too late at any timeframe.
How to trade with Xmaster formula indicator
Traders must wait for the yellow arrow to appear first.
Then the trader doesn’t have to wait for the next candle to start forming the yellow arrow shown.
Therefore you don’t have to rush to place your order as soon as the arrow is displayed.
Current market trends are usually very young and gentle to believe and must be given time to place a trade.
When the yellow arrow appears facing up, the trader must place a BUY order.
On the other side, a yellow arrow facing down appears, the trader must place a sell order.
Xmaster formula indicator buy rules
- The indicator turns green and with the arrow yellow pointing up at the same time.
- The price chart closes as a solid bullish candle.
- Reference to buy when both of the above conditions are met.
- Place a stop loss below the bottom of the signal bar.
- Take profit every time the indicator turns red and plot the arrow pointing down, or set target based support resistance
The image above shows a buy signal with the appearance of a yellow arrow and accompanied by green dots pointing up,
After you see that the bullish candle is solid the trader can open Buy with a stop loss at the swing low.
A moderate profit target is to use Fibonacci for support and resistance levels, or you can also use a pivot point indicator.
Xmaster formula indicator Sell rules
- The indicator shows red and yellow arrows pointing down at the same time.
- The price chart closes as a solid bearish candle.
- Terms of sale when both of the above conditions are met.
- Place a stop loss above the signal candle’s height.
- Take profit every time the indicator turns yellow and the arrow plot pointing up, or based on resistance support.
The image above shows that the sell signal is marked by changing the color of the dots to red and pointing down.
At the same time, the yellow arrow shows the main signal to open sell, but you can wait for a really solid bearish candle to form.
Placing a stop loss at the swing high prevents if the signal from Xmaster turns out to be only a fake signal because after all there are no perfect indicators without signal defects.
Xmaster formula indicator free download
Unfortunately, the Xmaster formula mt4 formula is not available on the default mt4 platform.
This indicator is made by a third party, but it is not known who created this indicator.
If you use the search box on the mql5 market, there are only a few articles about this indicator but a is not available on the mql5 market.
You can use the google search engine with the keyword Xmaster formula indicator free download.
Then several sites will appear there on SERP, and you can explore one site at a time that provides the Xmaster formula indicator download link.
But if you want to download the Xmaster formula indicator faster then we provide the download indicator link below.
How to install Xmaster formula indicator mt4
After successfully downloading the indicator file, the next step is to install it on your mt4 platform.
How to? it’s easy, and maybe you already know it from the beginning.
The steps are as below
- Run your mt4 platform.
- Click file – >> Open data folder – >> MQL4 – >> indicator.
- Copy the Xmaster ex.4 file then paste it in the Indicator folder.
- Close the mt4 platform and open it again, the indicator should be in the custom indicator section.
- Or refresh the navigator window by highlighting the indicator tab, right-click and select refresh, after this, the Xmaster indicator will appear in the custom indicator window.
How to attached Xmaster indicator into the chart
The XMaster Formula indicator can be used in all timeframes, but it will certainly give a different signal to each timeframe.
And to use the indicator you must attach it to your mt4 platform chart.
The way is like calling other indicators, you must find the shortcut indicator on the custom indicator menu.
In the navigator window, you can highlight the custom indicator and scroll down to find the Xmaster shortcut.
Double click then a new window will appear and you can adjust the settings as desired.
How to remove Xmaster indicator from your chart
To remove the indicator, you can do it in two ways.
- The first you drag the mouse near the indicator line, after that right-click and make sure the indicator box appears, simply you can delete the indicator from the options.
- The second way is to right-click anywhere in the middle of the graph, a selection box will appear, and you select the list indicator, after clicking the list of indicators that appear attached to your chart.
- Highlight the Xmaster indicator and delete it.
Advantage and disadvantage of Xmaster formula indicator
The advantages of the Xmaster indicator are
- Easy to use and suitable for beginners.
- Available for all pairs and all financial markets.
- Signal accuracy around 70%
- Works well with intraday traders but may also for swing traders.
- The signal is given rarely appears.
- Requires high patience
- It’s possible for fake signals that might occur.
This Xmaster formula indicator is a simple indicator, which in practice can also be combined with other indicators, such as Fibonacci and or Bollinger bands.
And this indicator is suitable for market conditions with high volatility, so many people use it in the London market and New York market sessions.
Trading on high volatility may make a profit faster than sideways.
Even though the risk is also high because illegal movements may cause performance indicators to be inconsistent with the direction of the trend.