The XE Forex Strength Indicator MT4 is a Forex trading tool that provides traders with vital information about the direction and magnitude of a signal for a specific currency pair and selected timeframes (M5, M15, M30, and H1). This Forex Strength Indicator bases its calculations on a variety of factors, with the results presented through a color-coded panel complete with a scale bar, numerical values, and arrows. This panel also displays the current price and spread for the chosen pair.
Alert Options
The XE Forex MT4 Indicator offers a unique feature in the form of an alert system. This system can be activated for each available timeframe and it sends a notification when the direction of the signal changes. These alerts can be received in two different ways – as an email or as a pop-up window with accompanying sound.
Customizable Parameters
Flexibility is one of the key features of the XE Forex Strength Indicator. Users have the ability to customize the color display of the indicators on the panels, with options for green/red/blue. The location of the panel on the charts can also be adjusted based on the user’s preference, thanks to the DistanceX/Y parameter.
Moreover, the indicator allows the user to select which timeframes the panel should display. This is controlled by the Show Period parameters (H1/M30/M15/M5). Alerts can also be customized per timeframe using the Sound Alert and Mail Alert parameters.
Optimal Usage
The XE Forex Strength Indicator MT4 tends to generate the most accurate results when used on the H1 timeframe. However, the most reliable signals are produced when all timeframes indicate a signal heading in the same direction. Users have the flexibility to use the indicator to show individual periods such as M5 H1 or M5, M15, M30, H1, or just one.
FAQs
What is the XE Forex Strength Indicator MT4?
The XE Forex Strength Indicator MT4 is a Forex trading tool that provides visual information about the direction and strength of a signal for a particular currency pair and selected timeframes.
How does the alert system work?
The alert system can be activated for each available timeframe and sends a notification when the direction of the signal changes. These alerts can be received either as an email or as a pop-up window with sound.
Can the parameters be customized?
Yes, users can customize the color display of the indicators, the location of the panel on the charts, the timeframes the panel should display, and the type of alerts per timeframe.
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This is a product review written independently. This article does not endorse the product but merely provides an in-depth review of its features and performance based on available information.
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