Forex X Code

Forex X Code is a very simple forex trend indicator. Use Forex X Code is recommended as part of the main trading system. Indicator Forex X Code gives very good results in a strong and volatile market is not very effective during the quiet movements. So use indicator better on major currency pairs in the European and American sessions.

Characteristics of the Forex X Code

• Platform: Metatrader4
• Currency pairs: Major
• Trading Time: European and American session
• Timeframe: Recommended M15 or higher
• Recommended broker: InstaForex, Roboforex, XM

How it works?

The X Code Indicator for MT4 is a fully integrated trading system, designed to identify trends, flat markets, and potential reversals while providing clear entry signals. It generates bullish and bearish signals tailored for trend followers and effectively pinpoints trend reversals, displaying optimal stop loss and profit targets for each trade. Additionally, the indicator plots flat lines in neutral market conditions, making it easy to avoid low-volatility environments. As a non-repainting tool, it offers reliable, real-time signals, enhancing confidence and precision for forex traders.

Indicator signals for market entry are intuitive and accompanied by appropriate inscriptions ("Buy" and "Sell") and an additional indicator of the trend in the upper right corner:

If the indicator to draw a horizontal line, it indicates that the market is weak and it is better not to make trades.

Traders should initiate a buy position once the indicator line shifts to blue, setting a stop loss just below the blue line. For a sell position, enter when the indicator turns red, with a stop loss placed above the red line.

This indicator does not specify a take profit level. For optimal results, consider closing the position when an opposing signal appears. In ranging markets, the indicator lines often flatten for extended periods. During such conditions, it’s advisable to refrain from taking trades.

Conclusion

The X Code Indicator for MT4 is a comprehensive trading tool designed to help traders identify trending markets, ranging conditions, and potential price reversals. Beyond just signaling market conditions, it functions as a complete trading system, offering a structured approach to trading decisions.

In the archives Forex_X_Code.rar (11,3 Kb):

• XCODE.ex4

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