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The XCODE indicator is an efficient algorithm that displays information on a trend change without redrawing. Since its inception, this tool has become very popular among experienced traders, since the signals issued by it are distinguished by the maximum level of reliability.
The XCODE indicator is based on a moving average, which has been modified so that the algorithm fulfills its tasks.
Indicator Settings
As for the Xcode indicator settings, attention should be paid only to the SignalPeriood variable, which is responsible for the depth of the analyzed history. The remaining parameters do not affect the markup result in any way and are intended solely for signal optimization, in particular:
SLpips parameter - this is the number of points that the algorithm will add or subtract from the current price to calculate the stop loss quote;
AlertON - enable/disable a pop-up window with notification of signals;
Email - if you set “true” opposite this variable, the terminal will send messages about signals to the mailbox.
Indicator signals
An important advantage of this algorithm is that it displays visual and easily readable signals on the screen. So, for example, if you see an upward arrow with a blue tint, as well as the phrase “Trend UP-BUY,” then this is a signal that there is an upward trend in the market; therefore, it is recommended to open buy positions. In addition to the signals described above, stripes with red and blue shades appear on the trading chart.
Looking at them, you can notice that the curve, which has a red tint, is located above the price level and shows a downward trend. And the curve under the price level, which has a blue tint, displays a nascent upward trend.
Conclusion
From all the above, we can conclude that using this algorithm for trading is quite simple. Even a novice trader who does not have trading experience can understand that breaking a curve of a tool at a price level is not a signal of a trend change. In order to be able to say that the trend will change soon, it is necessary that the candle that breaks the curve of the instrument closes on the other side of the overcome level.
