At the same time, it makes sense for both beginners and professional traders. First of all, it works great for beginners thanks to its ease of use. The no-repaint indicator delivers a set of advantages. The Xmaster Formula Indicator Advantages and Disadvantages It can be used together with Bollinger bands or Fibonacci to add flexibility and use it during not only London but also New York sessions.īefore we discuss the way to download Xmaster Formula MT4 Indicator and integrate it with your trading platform, let's highlight some of the key pros and cons. But, as we mentioned earlier, it does not work as a stand-alone indicator. It does not require special skills to read the chart. Make the price difference every time the arrow points down and the indicator turns red or considers the resistance support.Īs you can see, the indicator is pretty simple.Use points below the signal bar to place stop-losses."Sell" in case the price chart comes up with a solid bullish candle."Sell" when the indicator and the arrow point up simultaneously.Make the price difference every time the arrow turns yellow or consider the resistance support.Īnd here are some baseline tips to follow the Sell rule:. Use points above the signal candle height to place stop-losses."Buy" in case the price chart comes up with a solid bearish candle."Buy" when both arrows point down simultaneously.Here are some baseline Sell rules you need to follow when using this type of indicator: The initial version of the indicator does not provide full access to its parameters and codes. Buy Rules for Xmaster Formula MT4 Indicator When using the tool, you will need to follow the two basic rules: the Sell and the Buy rule. If you do not like these particular colors, you can change them in the indicator's settings along with the color of the area. The red color is associated with buying while the green color is a selling signal (see the image below). Include it in the trading system instead.Īll you need is to keep an eye on the lines colored red and green. Note: do not use it as a stand-alone indicator. You should consider the Xmaster formula indicator as a technical supplement to the overall trading strategy and the in-depth technical analysis.
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