Xaos Patterns Explorer Indicator

Xaos Patterns Explorer Indicator

The Xaos Patterns Explorer indicator for MT4 displays the potential reversal zones of the price.

The Xaos Patterns Explorer indicator for MetaTrader 4 (MT4) detects the potential reversal zones of the price using the Xaos patterns. It has a similar model to the fractal indicator, which identifies the levels where the market may likely change direction.

However, unlike the fractal indicator that is plotted directly at the highs and lows of a candlestick, the Xaos Pattern Explorer is displayed on a separate window, just below the main chart, which marks the potential end/beginning of an uptrend/downtrend.

The indicator displays a tomato-red Xaos pattern to signal that the price is at a zone where it could reverse to the downside (bearish). Similarly, a lime-green Xaos pattern marks the potential end of a bearish move/beginning of a bullish move.

How To Trade With The Xaos Patterns Explorer Indicator for MT4

The idea is to open a buy or sell order when the tomato red/ lime-green of the Xaos Patterns Explorer indicator is displayed. However, this may not be sustainable in the long run because it generates signals even when the price shows the slightest reversal sign.

Therefore, the indicator is best applied in a trending market condition to find opportunities to join a bullish or bearish trend. For instance, you may watch out for the tomato-red Xaos pattern in a downtrend for a selling opportunity.

Conclusion
The Xaos Patterns Explorer indicator for MT4 is a technical indicator that suggests potential trend reversal zones using the Xaos patterns. However, it isn’t recommended to be in isolation but in conjunction with price action or any forex trading indicator for better results.