XTC Trend Following Forex Indicator is a fantastic forex trading indicator designed for serious traders. Traders love XTC Trend Following Indicator because of its simplicity.
It is very easy to understand and implement in the market to make real money. This forex trading indicator is best when used with other trend indicators like moving average, parabolic SAR, etc.
This indicator can be used as a confirmation indicator rather than a signal-generating indicator. A combination of the 21-day exponential moving average and this indicator will reward the traders.
XTC Trend Following Indicator Overview
|Name of Indicator
|Above 5 minute
|XTC Trend Following
After you successfully install XTC Trend Following Indicator in your MetaTrader it will look somewhat like this:
About XTC Trend Following Indicator
XTC Trend Following Indicator is actually way simple than most people think. It is just a histogram that is designed using complex algorithms. When the XTC Trend Following indicator histogram is red (or negative) it is a warning that you should sell the currency.
Likewise, when you see a positive histogram it is an indication that you should be buying the currency. That’s it! This is the only thing you should know about this forex trading indicator.
XTC Trend Following Indicator: Buy parameters
- The market rate should be up-trending.
- The market rate should be bouncing following support.
- XTC Trend Following Indicator should form a blue (positive) histogram.
- Buy at the market price once all of the above parameters are met.
- Adjust your stop loss below the recent support level.
- Take your profit when the XTC Trend Following Indicator histogram turns red (negative).
Must Read: Forex Double Supertrend Trading System MT4
XTC Trend Following Indicator: Sell Parameters
- The market rate should be down-trending.
- The market rate should be retracing following resistance.
- XTC Trend Following Indicator should form a red (negative) histogram.
- Sell at the market price once all of the above parameters are met.
- Adjust your stop loss above the recent resistance level.
- Take your profit when the XTC Trend Following Indicator histogram turns blue (positive).