The formula is the same regardless of the timeframe.
This indicator can be used by scalpers on the 1 or 5-minute charts, for example, or it can be applied to the 4-hour, daily or weekly charts, for instance. So if you use sound money management and position sizing rules, and maybe combine it with one or two other indicators that you like to use, it could potentially be an effective and profitable indicator to use, even for seasoned traders.īeginner traders who may not have the ability to read price action or identify new trends can also benefit because the Xmaster Formula gives simple trend-based signals that are easy to follow. The Xmaster Formula indicator is not the holy grail indicator that will make you a millionaire, but it is still a very useful indicator that is said to generate winning trades around 70-75% of the time on currency pairs and stock market indices.
Red dots indicate a Bearish trend while Lime dots indicate a Bullish trend. Signals that are drawn and displayed on the additional smaller chart as dotted line with yellow arrows indicate a change in price direction. Plus it can be quite late to signal when a trend is over and you can sometimes give back some of your profits as a result, but you don’t necessarily need to wait for this indicator to tell you when to take profits if you have your own methods or pre-defined profit targets. The Xmaster formula MT4 Indicator is a well-known indicator that incorporates Moving Averages, RSI, and MACD to deliver signals. However it can also give a lot of false breakout signals in a flat sideways market, and you can get stopped out several times before a strong trend emerges. Like many trend-based indicators, the Xmaster Formula tends to perform well in strong trending markets because it will get you into a new trend fairly early and will keep you in a position until it’s conclusion, generating many pips in the process. Recommended Brokers for Xmaster Formula Indicator. Shows BUY and SELL arrow trading signals and trend directions. Stop losses can be placed at a recent swing high or low, and can be moved to break-even once a position moves in your favor. Xmaster Formula Indicator for MT4 best forex technical trading strategy. It is suggested that you enter a position on the close of the candle after a signal is generated (green to red or red to green), and exit your position as soon as the indicator changes color. The indicator appears in a separate section below your price chart and is displayed as a histogram or a dotted line (depending on the version) that is either green when the price is in an upward trend, or red when it is in a downward trend.Ī buy signal is generated when the histogram/line changes from red to green and a sell signal is generated when it changes from green to red. It is available on the Metatrader platform and it essentially alerts you to the start of a new trend, giving you a signal to go long or short in the direction of this trend, but it also indicates when the trend is over, and therefore when you should exit your position as well. The clear BUY/SELL signals and trend indicators simplify decision-making for traders, making it a user-friendly addition to the MT4 platform.The Xmaster Formula indicator was developed by Sayadi Achref and is a trend-based technical indicator that claims to work on many different forex pairs and across multiple different timeframes. This feature makes it a versatile tool, serving both as a trend continuation and a trend reversal indicator.ĭespite its complex internal mechanics, the Xmaster Formula is designed with user accessibility in mind. It does this through colored dots arranged in a wave-like pattern, tracing the market trend’s trajectory. By tracking price patterns, it alerts traders to possible shifts, enabling them to adjust their strategies accordingly.Īpart from identifying trend reversals, the Xmaster Formula also conveys the strength of existing trends. The primary function of the Xmaster Formula MT4 is to signal potential reversals in the market trend. Key Features and Functionality of Xmaster Formula MT4 Compatible with the widely-used MetaTrader 4 platform. Suitable for various trading styles, it is a valuable tool for technical analysis in Forex trading. Despite its intricate workings, the output presented to the trader is straightforward: clear BUY or SELL arrow trading signals and indicators of BULLISH or BEARISH trends. The Xmaster Formula is a user-friendly trend indicator for the foreign exchange market (Forex) that identifies the start and end of a trend. This indicator stands out due to its complex engine that synergizes various analytical methods, including Moving Averages, the Relative Strength Index (RSI), and the Moving Average Convergence Divergence (MACD). This article delves into the functionality, features, and practical applications of the Xmaster Formula Indicator, offering insights for traders looking to integrate this tool into their trading arsenal. It analyzes specific price patterns that suggest a shift in the market’s direction. The Xmaster Formula Indicator is a technical analysis tool used to identify potential trend reversals in the forex market.