Introduction to the Xmaster Formula Forex No Repaint Indicator
The Xmaster Formula Forex No Repaint Indicator is a unique and highly-wanted trading indicator. It has a sophisticated algorithm calculating accurate signals presented in a form of the buy/sell arrows. The most important feature of that indicator is the fact that it doesn’t repaint, so its signals once placed stay at the same spot.
The Xmaster Formula Forex No Repaint Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Anatomy of the Xmaster Formula Forex Indicator
The Xmaster Formula Forex No Repaint Indicator is made of a green/red dotted signal line that is displayed along with yellow buy/sell arrows. As you can probably guess, the green signal line indicates a bullish trend-momentum. Conversely, the red signal line suggests a bearish trend-momentum. You can notice that red signals are bolder, but it doesn’t have any impact on signals. Detailed trading instructions are provided in a bit lower part of that article.
Xmaster Formula Forex Indicator: Buy Signal
Follow these steps for a long trade:
- Xmaster Formula displays upward arrow
- Xmaster Formula signal line turns green from red
- Open buy trade after both conditions are met
- Set stop loss few pips below the last swing low point of the market
- Take profit or exit trade when the Xmaster Formula displays downward arrow
Here is another example of a long trade, with a closer zoom on the chart.
Xmaster Formula Forex Indicator: Sell Signal
Follow these steps for a short trade:
- Xmaster Formula displays downward arrow
- Xmaster Formula signal line turns red from green
- Open sell trade after both conditions are met
- Set stop loss above last swing high point of the market
- Take profit or exit trade when the Xmaster Formula displays upward arrow
Here is another example of a short trade, with a closer zoom on the chart.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Xmaster Formula Forex No Repaint indicator in MetaTrader (MT4)?
Download the Xmaster Formula Forex No Repaint.rar archive at the bottom of this post, unpack it, then copy and paste the Xmaster Formula Forex No Repaint.ex4 or Xmaster Formula Forex No Repaint.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Xmaster Formula Forex No Repaint indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free MT4 Xmaster Formula Forex No Repaint Indicator
To download the Xmaster Formula Forex No Repaint Indicator for Metatrader 4 (MT4) for free just click the button below: