I Cross Main Indicator
The I Cross main indicator for MT4 checks for price discrepancies in a cross currency pair and identifies a trading opportunity. It checks the closing price of the major currency pairs that form a cross currency. If the prices of the both major pairs and the cross currency reflect a difference, forex traders can enter a trade. In fact, this trading style is a form of currency arbitrage.
New forex traders should understand to calculate the price of a cross currency from the major pairs. However, advanced forex traders can use the arbitrage trading opportunities with ease. The indicator works best in M1 and M5 trading charts as prices adapt and adjust the discrepancy as soon as possible. So, it is best suitable for scalpers.
I Cross Main Indicator For MT4 Trade Setup
The indicator plots Aqua line for cross currency price and blue for the synthetic price of major currency. For example for GBPCHF cross currency pair, the indicator compares the price of GBPUSD and USDCHF. In theory, the prices should be equal.
However, if there is a difference in price then an arbitrage trading opportunity arises and the market will adjust the prices as soon as possible. The prices of the cross currency and the major pairs will once again be in sync.
Traders can input the desired cross currency and the major pairs in the indicator settings. This helps to focus and trade them once an opportunity arises.
Conclusion
In summary, I Cross Main indicator for MT4 is a forex arbitrage tool that provides trading opportunities using the price of main and cross currencies.
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