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Xmaster Formula

The Xmaster Formula indicator for MT4 is a good trend analysis tool that identifies the trend direction and displays a buy or sell signal.

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Description

The Xmaster Formula is a trend-following MetaTrader 4 (MT4) indicator that identifies the market trends and trend reversal zones. It displays a non-repaint buy or sell signal arrow at an optimal trend reversal zone.

What is the Xmaster formula indicator?

The Xmaster Formula indicator is a combination of the RSI, MACD, and moving averages that analyze the market trend to generate probable buy and sell signals. It creates a wavelike pattern on a separate window using compacted sets of lime and red dots, which move in the trend direction of the market.

The lime dots indicate that the market is in an uptrend (bullish), while the red dots signify a downtrend (bearish). Furthermore, the indicator has a yellow arrow that indicates a trend reversal zone, which also depicts a signal to buy or sell an instrument. So, it suggests a buy signal when the arrow points upward, while a sell signal is indicated when it faces downward.

In addition, a buy or sell signal is probable when the indicator prints an accompanying lime/red dot that syncs with the direction of the signal arrow. Also, the price should print a candlestick in the same direction as a confirmation. The candlestick and dot are confluences that suggest that the new trend may move in that direction.

Nonetheless, using the indicator with price action/other technical indicators is also recommended to mitigate false signals.

Features of the Indicator

The buy/sell signals of the Xmaster Formula indicator do not repaint. It has an alert system that notifies a trader of a buy or sell opportunity via email. It also has a sound alert feature that makes a pop sound when a buy or sell signal is detected.

Benefits of Using the Indicator

  1. Market Overview: The indicator helps a trader visualize the market trend with less technical analysis.
  2. Optimal buy/sell signal: The indicator provides scalpers and day/intraday traders with trading opportunities at optimal zones.
  3. Beginner-friendly: The indicator is also friendly for beginners to identify buy or sell opportunities in the market without difficulty.

Indicator Description Settings

The indicator comes with the following customizable settings:

EmailAlert: Enables/Disables alert signal via email.

SoundAlert: Enables/Disables the alert sound system.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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