The Xma indicator for MetaTrader4 is a Moving Average that contains a digital filter used in spotting trend along with flat states of the market. The Xma aligns itself above and below price in a way that it changes with price movement, which results in its plotting the separation line. It does not exhibit this behavior during flat price actions.
The signals for the Xma indicator are quite simple for just about anyone. Price is said to be bullish if the candle opens and closes above the blue colored Xma line. On the other hand, if price opens and closes below the blue colored Xma line, we are said to be in a bearish trend.
The Xma indicator can also offer clues as to when to exit on position(s). For instance, if in a bullish trend and price crosses and closes below the Xma line, an exit is advised. If it is the other way round and you’re a bearish trend, exit position(s) when price crosses the Xma and closes above the signal line.
The input parameters on the Xma indicator includes the following:
Period – Has a preinstalled value of “12” and depicts the indicator period
Porog- This is a variable that explains the indicator threshold (usually in pips) and has a preinstalled value of “3.”
Metod – This variable defines the averaging method where the following values are defined; 0=Simple 1=Exponential 2=Smoothed 3=Linear weighted. It has a value of “1,” meaning it is exponential in nature.
Prise – This variable is used to define the averaging price and the set values are explained according; 0=Close 1=Open 2=High 3=Low 4=Median 5=Typical 6=Weighted. It comes installed with a value of “0,” which means that the averaging price is set at “close.”
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (period, porog, metod, metod2, prise), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month