Xmaster Formula MT4 Forex Indicator

What is the Xmaster Formula MT4 Forex Indicator?

  The Xmaster Formula MT4 Forex Indicator has the following features and benefits:

• It is compatible with MetaTrader 4 platform and can be used with any currency pair and timeframe.
  It has a user-friendly interface and does not repaint historical data.
  It can be used as a standalone indicator or in conjunction with other indicators and strategies.
  It can enhance the profitability and accuracy of traders by providing actionable insights and guidance.

In the next sections, you will learn how to install and use the Xmaster Formula MT4 Forex Indicator in your forex trading. You will also discover how to trade with the indicator, how to compare and combine it with other indicators, and some examples of how it works on different charts and timeframes.

Description of Xmaster Formula MT4 Indicator:

  The dots follow the current market trend and you should read them as follows:

• The Green dots indicate an Upward movement: the market prices are on the rise.
  The Red dots indicate a Downward movement: the market prices decrease.
  Additionally, the indicator displays big Yellow Arrows, which are the main signals of Xmaster Formula and indicate change in the trend direction: they tell us when a new trend is beginning, based on their orientation.

  Settings of Xmaster Formula MT4 indicator:

• EmailAlert: true / false → enable / disable notification on Email.
  SoundAlert: true / false → enable / disable sound when you change the trend.

  Signal Popup Alert Window:

When change in trend direction is detected an Alert Window pops up. This Pop-up shows the following informations:

• UP / Down ↔ Trend direction.
  Buy / Sell price ↔ Current entry price.
  StopLoss ↔ Stop loss level.
  Currency pair ↔ EUR AUD, GBP AUD, GBP JPY etc…
  X min ↔ Timeframe.

Xmaster Formula MT4 Indicator Recommendations and Best Practices:

The Xmaster Formula Indicator is a powerful and versatile tool that can help you improve your forex trading performance and results. However, to make the most out of this indicator, you need to follow some best practices and recommendations. In this section, you will learn how to use the Xmaster Formula Indicator effectively and efficiently.

  Which currency pairs to trade using Xmaster Formula Indicator?

Xmaster Formula Indicator can be used with all currency pairs, but works best with major pairs specifically in trending pairs as: EURAUD, GBPAUD, GBPJPY and EURJPY.

  Which Timeframe to use with Xmaster Formula?

According to developers, Xmaster Formula is universal indicator. It works on all Time-frame from 1-Minute to 1-Month, but still recommended to use it with small Timeframes if you want to reduce your losses.

  Use the Xmaster Formula with Other Indicators to Increase the Probability of Successful Trades:

As you can see it is really nice and easy to use indicator. Despite the good results obtained using Xmaster Formula indicator, particularly on small Timeframes (≤ 15 minutes), it should not be used alone but it should be supplemented with additional filters. You can also apply it as an addition indicator to increase the performance of your main trading system.

  Set Stop-Loss and Take-Profit Levels Based on the Last Swing High or Low:

The Xmaster Formula Indicator provides clear and accurate buy and sell signals, but it does not tell you where to place your stop-loss and take-profit orders. A good way to determine these levels is to use the last swing high or low as a reference point.

  Practice Proper Money and Risk Management to Minimize Losses and Maximize Profits:

The Xmaster Formula Indicator can help you identify profitable trading opportunities, but it cannot guarantee that every trade will be a winner. Therefore, you need to practice proper money and risk management to ensure that you can survive the inevitable losses and grow your account. Some of the money and risk management principles that you should follow are:

• Never risk more than 1-2% of your account per trade,
• Use a risk-reward ratio of at least 1:2,
• Diversify your portfolio, and avoid overtrading.

  Do Not Use Xmaster Formula Indicator on Unclear Trends or Sideways Trends:

The Xmaster Formula Indicator is a trend-following tool that helps traders identify and follow the direction of the market. However, it is not very effective on unclear trends or sideways trends, where the market moves in a narrow range without a clear direction as seen in the example below:

Click on the image to open the full size version!

  Why Traders Should Not Use The Xmaster Formula Indicator on Unclear Trends or Sideways Trends?

• The indicator may generate false or misleading signals, as it may not be able to distinguish between a trend and a noise. "For example, the indicator may show a buy signal when the market is actually in a consolidation phase, or a sell signal when the market is about to break out of a range."
• The indicator may lag behind the market, as it relies on historical price data to calculate the signals. This means that the indicator may not react quickly enough to the sudden changes in the market, such as breakouts, reversals, or spikes." For example, the indicator may show a sell signal when the market has already moved up significantly, or a buy signal when the market has already dropped sharply."
  The indicator may not provide enough information for traders to make informed decisions, as it only shows the trend direction and the entry and exit points. It does not show other important factors, such as the strength, duration, or quality of the trend, or the support and resistance levels, or the market volatility and momentum. "For example, the indicator may show a buy signal, but the trend may be weak, short-lived, or risky."

How to use Xmaster Formula Indicator for trading?

  Buy Signal Rules:

  Open a long order:

• Wait for the Yellow Arrow pointing Upwards.
• An accompanying Lime colored dotted line should appear.
• You should wait for the next candles to start. Do not be hurry to place your order immediately an arrow is displayed.
• Place the stop loss in the Previous Low following your timeframe, or as indicated on the Alert pop-up window.

 

  Exit buy trade → Two options:

• Close all buy orders when an opposite signal is given:
  • The indicator displays a Yellow Downward pointing Arrow.
  • You don't have to wait for the trend confirmation.
• The best practice is to use the Support and Resistance levels to have a clear idea concerning your take profit.

  Xmaster Formula Buy Signal Example:

  Sell Signal Rules:

  Open a short order:

• The Yellow Arrow should point Downwards.
• With an accompanying Red colored dotted line.
• You should wait for the next candles to start. Do not be hurry to place your order immediately an arrow is displayed.
• Place the stop loss in the Previous High following your timeframe, or as indicated on the Alert pop-up window.

 

  Exit sell trade - Two options:

• Close all sell orders when an opposite signal is given:
  • The indicator pops up a Yellow Upward pointing Arrow.
  • Don’t wait to confirm the trend in this case.
• 
  Again the best solution is to use the Support and Resistance levels to have a clear idea concerning your take profit.

  Xmaster Formula Sell Signal Example:

Xmaster Formula MT4 Indicator Free Download:

Xmaster Formula Metatrader Indicator| 8.20 Ko| 01/11/2019, 04:27