Introduction
Xmaster formula mt4 indicator is one of the best forex indicators available to traders.
I am saying it’s best because it gives you a clear buy and sells signal in a straightforward yet effective manner. It has a beautiful algorithm that shows us the direction of a trend and provides us with the movement’s strength. Some people also refer to Xmaster Formula MT4 Indicator 2021, but both are the same thing.
Supported timeframes and currency pairs:
Another good thing about the Xmaster formula indicator is that it fits all time frames and currency pairs.
Xmaster Formula mt4 Indicator Working:
As I said, earlier this indicator has effortless yet effective working. It works by plotting two dotted lines and an arrow sign for the buy and sell signal. As we can see in the reference image below, it starts plotting a Green dotted line when the price rises, and it plots a Red line when the price is falling.
Also, at the points where the reversal occurs, it plots an arrow to give wither a buy or sell signal.
Indicator Settings:
In the input section of this indicator, you will see the following
EmailAlert: True if you want to receive an email of a signal.
SoundAlert: Do you want to be alerted through sound notification.
Trading Strategy for Xmaster Formula mt4 Indicator:
Here is a comprehensive strategy on how to trade using Xmaster formula indicator.
Buy Strategy:
Applying the indicator to your charts will start plotting either green or red lines along with signal arrows. To take a long position, you need to wait for the line to turn green and also wait for a sell signal in the form of an upward arrow. When you spot such a setup, you are in an excellent position to buy. Also, don’t forget to put your stop loss below the buy signal level, and you can take profit and exit the trade when the line turns red.
Sell Strategy:
Just like the buying strategy, you should get well when you see the dotted line turning from green to red and also see a sell signal in the form of an arrow pointing downward. Don’t forget to put your stop loss just above the entry point, take profit, and exit the trade as soon as you see the line turning red to green.
Conclusion:
Using Xmaster Formula indicator can have a very positive effect on your trading. We recommend using it in combination with other trend indicators like Forex Millennium Indicator to increase your chances of making some profit.
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