Xmaster Formula Indicator
Platform: MT4 Type: Trend Last update: December 2, 2024The Xmaster Formula Indicator is very popular trend-following forex indicator. Traders around the world appreciate the simplicity and accuracy of the provided trading signals. One of the main advantages of the Xmaster Formula is its capability of demonstrating trend direction and the strength of that trend – all at the same time. Both beginners and advanced forex traders will find the Xmaster Formula very useful and profitable when executed properly. By some, this gauge is also called Xmaster Formula MT4 Indicator 2020, but in fact, it is one and the same tool.
How does it work? How to apply in trading?
Trading Rules Explanation
The Xmaster Formula Forex Indicator consists of two elements: an oscillator and buy/sell arrows. The oscillator is made of a dotted line that takes green color when the trend is considered bullish or alternatively takes red color when the trend is considered bearish. The upward/downward arrows are plotted as confirmation signals for the market entries. When the oscillator values are increasing, it means the trend is strengthening.
Buy Signal
Follow these steps for a long trade:
- The oscillator of Xmaster Formula turns green
- It should be followed by the upward arrow as bullish trend confirmation
- Open buy trade after both conditions are met
- Set stop loss few pips below the last swing low point
- Take profit or exit trade when the Xmaster Formula turns red color or bearish trend arrow appears. You can also use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- The oscillator of Xmaster Formula turns red
- It should be followed by the downward arrow as bearish trend confirmation
- Open sell trade after both conditions are met
- Set stop loss above last swing high point
- Take profit or exit trade when the Xmaster Formula turns green color or bullish trend arrow appears. You can also use your own method of trade exit
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