Xpoints MetaTrader 4 Forex Indicator

An interesting regularity is ascertained within the EUR/USD chart. it slow before a reversal, bar seem that have:

1) rate=(High-Low)/MathAbs(Close-Open) remarkably over one

2) Low touches the lower border of the channel (price increasing is possible), or

High touches the higher border of the channel (price decreasing is possible).

Such bars are conventionally known as X-points.

The indicator searches for X-points by parameter xrate (rate >= xrate) && (High-Low) >= xsize && (Up-Dn)>= xminupdn.
To filter false signals, the indicator analyzes the bar following the X-point to find a minimum of tiny worth movement within the foreseen direction, and it detects the positions of middle points of bars as associated with the mid-channel and to every different.

(See the code of the indicator.)

Parameters:

extern int per=3; – channel building amount

extern double xrate=1.5; – marginal rate

extern double xsize=5.0; – marginal bar height (High-Low)

extern double xslope=0.0; – marginal increment of succeeding bar

extern double xminupdn=10.0; – marginal channel breadth

extern int xhour1=9; – marginal hour, from that signals ar allowed (inclusively)
extern int xhour2=19;- highest hour, up to that channels ar allowed (inclusively)
extern int xindent=15; – signal indent from the chart (it will be used for StopLoss, too) As you’ll see from the chart, signals of XPoints (straight arrows) ar usually earlier than or ar additional precise than FATL (round arrows).
False signals haven’t been excluded nevertheless, therefore you must use extra filtering with different indicators or contemplate the signals as warnings against too early gap of positions directed oppositely the expected movement.
Signal filtering by time is supplemental. By default, new signals ar neglected.
During tests, another attention-grabbing peculiarity of the ‘indent’ parameter has been found: this parameter will be used for the correct calculation of gap time, as an example, you’ll open short positions once the worth is on top of the arrow, and contrariwise. This approaches the gap to the native extremum purpose.

Xpoints MetaTrader 4 Forex Indicator

Xpoints MT4 Indicator – Download Instructions

In order to transform accumulated history data, you need to install a MetaTrader 4

Xpoints – it is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.

Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.

How to install Xpoints indicator for MetaTrader 4.mq4?

Download indicator for MetaTrader 4.mq4
Copy Xpoints to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt5 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on MT4 indicator for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
now indicator for MetaTrader 4.mq4 is available on your Chart

How to remove MT4 Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?

Select the Chart where is the Indicator running in your Metatrader 4 Client
Right click into the Chart
“Indicators list”
Select the Indicator and delete.

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