Xmaster Formula Indicator on TradingView - Free - [TFlab]

The Xmaster Formula Indicator is a powerful tool for Forex trading and is one of the indicators available in Trading View Indicators. This indicator is highly valued for generating Buy and Sell signals.

Key components of this indicator include Exponential Moving Averages (EMA) for identifying trends and price movements, and the Moving Average Convergence Divergence (MACD) for analyzing the strength and direction of trends.

One TradingFinder Developer said:
"There is an indicator called Xmaster that is used for identifying market trends, but some users mistakenly search for XHmaster. This mistake has led to confusion regarding its functionality and availability. However, the correct name is Xmaster."

The Stochastic Oscillator and Relative Strength Index (RSI) enhance the analysis by providing probable price reversal signals.

Additionally, Parabolic SAR plays a crucial role in identifying trend changes and managing risks.

Indicator Table

Below is a summary of the indicator's specifications:

Indicator in an Uptrend

On the 4-hour chart (NZD/USD), the Standard Mode of the Xmaster Formula Indicator displays Buy and Sell signals on the chart.

Examining Xmaster Formula Indicator in an Uptrend, 4-hour NZD/USD chart

In Standard Mode, the indicator calculates the difference between the 10-period short-term EMA and the 38-period long-term EMA and normalizes it to a 0-100 scale.

Indicator in an Downtrend

On the 1-hour chart (CAD/JPY), the Advanced Mode of the Xmaster Formula Indicator demonstrates Buy and Sell signals.

In Advanced Mode, the indicator combines multiple technical indicators to provide more accurate and robust signals.

Tools used in this mode include:

MACD:

• Sell Signal: When MACD histogram bars are negative;
• Buy Signal: When MACD histogram bars are positive.

RSI:

• Sell Signal: When RSI exceeds 70 (overbought);
• Buy Signal: When RSI is below 30 (oversold).

Stochastic Oscillator:

• Sell Signal: When Stochastic value exceeds 80;
• Buy Signal: When Stochastic value falls below 20.

Parabolic SAR:

• Sell Signal: When SAR points are above the price;
• Buy Signal: When SAR points are below the price.

Indicator Settings

The image below shows the settings for the Xmaster Formula Indicator:

Moving Average Settings

• Short-Term Length: Period for the short-term moving average;
• Mid-Term Length: Period for the mid-term moving average;
• Long-Term Length: Period for the long-term moving average.

MACD Settings

• Fast Length: Period for the fast moving average in MACD calculations;
• Slow Length: Period for the slow moving average in MACD calculations.

Stochastic Settings

• Slow Length: Period for the stochastic oscillator

RSI Settings

• Slow Length: Period for the Relative Strength Index

Conclusion

The Xmaster Formula Indicator is a versatile tool available in both Standard and Advanced Modes.

• In Standard Mode, it generates simple signals based on normalized moving averages, while;
• In Advanced Mode, it combines multiple indicators such as MACD, RSI, Stochastic Oscillator, and Parabolic SAR for more detailed market analysis.

This indicator utilizes EMA for identifying trends, MACD for analyzing strength and direction, RSI and Stochastic Oscillator for detecting reversal signals, and Parabolic SAR for identifying trend changes and managing risks. Together, these tools provide traders with precise market insights.