Xaos Patterns Explorer Indicator for MetaTrader 4

The Xaos Patterns Explorer Indicator is a technical indicator that suggests potential trend reversal zones using the Xaos patterns. It has a similar model to the fractal indicator, which identifies the levels where the market may likely change direction.

However, unlike the fractal indicator that is plotted directly at the highs and lows of a candlestick, the Xaos Pattern Explorer is displayed on a separate window, just below the main chart, which marks the potential end/beginning of an uptrend/downtrend.

The indicator displays a tomato-red Xaos pattern to signal that the price is at a zone where it could reverse to the downside (bearish). Similarly, a lime-green Xaos pattern marks the potential end of a bearish move/beginning of a bullish move.

Types of Xaos Patterns

There are several types of Xaos Patterns, including the Xaos Butterfly, Xaos Gartley, Xaos Bat, and Xaos Crab. Each pattern has its unique characteristics and is used to identify potential trend-reversal zones.

Why is it Important?

The Xaos Patterns Explorer Indicator is important because it helps traders make informed decisions. By identifying potential trend reversal zones, traders can enter or exit trades at the right time, maximizing their profits and minimizing their losses. The Xaos Patterns Explorer Indicator is also easy to use and provides an easy-to-read display of the most profitable patterns.

Advantages of using Xaos Patterns Explorer Indicator

There are several advantages of using the Xaos Patterns Explorer Indicator over other indicators.

• It is easy to use and provides an easy-to-read display of the most profitable patterns.
• It is a technical indicator that suggests potential trend reversal zones using the Xaos patterns.
• It can help traders make informed decisions by identifying potential trend-reversal zones.

Disadvantages of using Xaos Patterns Explorer Indicator

While there are several advantages to using the Xaos Patterns Explorer Indicator, there are also some disadvantages.

• It generates signals even when the price shows the slightest reversal sign.
• It isn’t recommended to be used in isolation but in conjunction with price action or any forex trading indicator for better results.

How to Trade with Xaos Patterns Explorer Indicator

Buy Entry

• The idea is to open a buy order when the lime-green of the Xaos Patterns Explorer indicator is displayed.
• However, this may not be sustainable in the long run because it generates signals even when the price shows the slightest reversal sign.
• Therefore, the indicator is best applied in a trending market condition to find opportunities to join a bullish trend.

Sell Entry

• The idea is to open a sell order when the tomato red of the Xaos Patterns Explorer indicator is displayed.
• However, this may not be sustainable in the long run because it generates signals even when the price shows the slightest reversal sign.
• Therefore, the indicator is best applied in a trending market condition to find opportunities to join a bearish trend.

Xaos Patterns Explorer Indicator Settings

Conclusion

The Xaos Patterns Explorer Indicator for MetaTrader 4 is a must-have for traders. It helps traders make informed decisions by identifying potential trend-reversal zones. The Xaos Patterns Explorer Indicator is easy to use and provides an easy-to-read display of the most profitable patterns.