Forex X Code Indicator

Forex X Code Indicator

Forex X Code Indicator For MT4 is a complete trading system to identify trend, flat market, market reversal with entry signal, stop loss, and take profit

The Forex X code indicator for MT4 provides forex bullish and bearish trading signals for trend followers. Furthermore, it’s efficient in identifying trend reversals and plots the best stop loss and profit levels for a trade. In addition, the indicator plots flat lines in a neutral market condition. As a result, this non repainting indicator provides reliable trading signals for forex traders.

The indicator is easy to interpret and works well for new and advanced forex traders. It works on all intraday chart time frames and higher. Traders can use this indicator to formulate automated trading strategies as the indicator provides entry, exit, stop loss and take profit points.

Forex X Code Indicator For MT4 Trading Signals

The indicator blue lines below the price in a bullish market condition and red lines above the price in a bearish market. Furthermore, the indicator plots the word BUY and SELL on the charts upon reversals and plots the trend direction with an arrow on the chart corner.
Traders should enter a buy trade once the indicator line turns to blue with a stop loss below the blue line. Similarly, traders should place a sell position if the indicator turns to red with a stop loss above the red line.

The indicator does not provide a take profit point. For best results traders should consider to exit the position upon an opposite trading signal. During a flat market the indicator lines tend to be flat for a considerable period of time. In this case traders should abstain from entering the markets.

Conclusion
The Forex X code indicator for MT4 helps trader identify trending markets, ranging markets and price reversals. Furthermore, it acts as a complete trading system.