Keenbase provides the top MetaTrader indicators for discerning market trends, price breakouts, cycles, graphic objects, and zones, all of which can be used to forecast the direction of prices in the future. The strength index of currency pairs, buy/sell decisions, price action, and risk management can all benefit from using specialized indicators.
How To Use the KT XMaster Formula Indicator
This indicator can be applied in two ways. The first is to use it by itself, which is not a good idea because no system is foolproof. Several other kinds of technical indicators are used in the alternative method. Examples of such indicators are gap and breakout indicators.
When Buying Signals
- Here, the yellow arrow will point upward, and the dotted lines will change to green.
- Now open a long position.
- Place the stop loss at the most recent swing low point.
- When the indicator becomes red or opposite signals are noted, take profit or exit the trade.
When Selling Signals
- Here, the yellow arrow will point downward, and the dotted lines will change to red.
- Open a short position.
- Set the stop loss at the high point of the preceding swing.
- When the indicator becomes green or opposite signals are noted, take profit or exit the trade.
Please don’t risk the free downloads; although the web offers a free version of this indicator, it may have restrictions or even contain malware. Please refer to our installation guide if you need help understanding how to install it.
Which Indicator Should You Use For MT4 or MT5?
This is a common concern among investors. In reality, it is pointless to search for the most suitable MetaTrader indicators due to the fact that each indicator type has a unique function. For instance, there is an indicator for spotting overbought/oversold conditions and yet another for identifying price breakouts.
Forex market forces are too complex to be captured by a single indicator. As a result, when conducting a technical analysis tailored to your trading preferences, it is always best to use a mix of more than two indicators.