Forex X Code Indicator for MT5 Download - [TradingFinder]

The Forex X Code Indicator is an advanced tool in the MetaTrader 5 platform, designed based on Price Action concepts.

It detects the trend direction and defines proper trade entry and exit zones.

In the Forex X Code, trends are shown as colored bars: blue for an uptrend and red for a downtrend.

Forex X Code Specifications Table

The table below presents the main features and specifications of the Forex X Code Indicator.

Uptrend Conditions

The chart below shows the AUD/NZD currency pair in a 5-minute timeframe. A color change from red to blue in the Forex X Code bar indicates a structural shift in the market and a transition into an uptrend—providing a potential buy entry zone.

Downtrend Conditions

An analysis of the Forex X Code behavior on the Ripple (XRP) cryptocurrency chart shows that a color shift from blue to red signifies decreasing buying pressure and increasing selling pressure.

In such a case, the indicator automatically recognizes the market phase as bearish and signals the trend change by displaying a red bar on the chart.

Forex X Code Indicator Settings

The image below displays the key settings and adjustable options in the Forex X Code Indicator:

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

Conclusion

The Forex X Code Indicator is a trend detection tool that combines moving averages and momentum filters to reduce market noise significantly.

It generates signals by changing the color of graphical bars on the chart, clearly illustrating trend structure shifts on the right side of the screen.