Forex X Code Indicator for MT4 Download - [TradingFinder]

The Forex X Code Indicator is a tool within the MetaTrader 4 platform, especially used in the Forex market, designed to detect trends and provide buy and sell signals.

This trading tool is based on Price Action analysis, tracking the trend direction and offering appropriate entry and exit zones.

Visually, Forex X Code is displayed on the chart as colored bars – blue for an uptrend and red for a downtrend.

Forex X Code Specifications Table

Information about the Forex X Code Indicator is presented in the table below.

Uptrend Conditions

In the price chart of the AUD/CAD currency pair, when the indicator's color bar changes from red to blue, this indicates a buy signal.

Such a condition reflects the beginning of an upward trend in the market and may present a suitable time to exit sell positions.

Downtrend Conditions

In the chart of the USD/JPY currency pair, a change in the indicator’s bar from blue to red signifies a sell signal and the start of a downtrend.

This typically occurs after a resistance level breakout and confirmation of weakening bullish momentum.

The system automatically evaluates the market as bearish and marks the trend direction in red.

Forex X Code Indicator Settings

The image below shows the configurable settings of the Forex X Code Indicator:

• Signal Period: Signal duration
• SI Size (Points): Display SI size (in points)
• Alerts ON: Enable alerts

Conclusion

The Forex X Code Indicator is a trend detection tool based on moving averages and momentum filters, useful in reducing market noise and enhancing technical analysis.

It generates trading signals by changing the color of graphical bars, clearly reflecting the structural trend shifts.