KT XMaster Formula MT5 ReadMe File

This ReadMe file provides an overview of the code for the KT XMaster Formula MT5 indicator and includes relevant information about its functionality and usage.

About the Indicator

• Developer: Forex Robot Easy Team
• Developer's Site: forexroboteasy.com
• Official Developer: This product is not developed by ForexRobotEasy. To find the official developer, please use MQL5.

Indicator Description

The KT XMaster Formula MT5 is a custom indicator designed for MetaTrader 5 (MT5) platform. It provides buy and sell signals based on the calculated moving averages, RSI (Relative Strength Index), and MACD (Moving Average Convergence Divergence) indicators.

The indicator uses the following parameters:

• Moving Averages:
  • Period 1: 10
  • Period 2: 20
• RSI Period: 14
• MACD Parameters:
  • Fast EMA: 12
  • Slow EMA: 26
  • Signal SMA: 9

The indicator buffers are used to display buy and sell signals on the chart.

Indicator Initialization

The initialization function (OnInit()) is called when the indicator is attached to a chart. It performs the following tasks:

• Maps indicator buffers
• Sets buffer 0 as the buy signal buffer
• Sets buffer 1 as the sell signal buffer
• Sets the style of the buffers (arrow style)
• Sets the indicator's short name

Indicator Calculation

The calculation function (OnCalculate()) is called for each new bar on the chart. It calculates new bars and iterates through them to generate buy and sell signals based on the specified conditions.

The following steps are performed for each new bar:

1. Calculate moving averages (ma1 and ma2).
2. Calculate RSI (rsi).
3. Calculate MACD (macd_main and macd_signal).
4. Check for buy signal:
   • If ma1 is greater than ma2, rsi is greater than 50, and macd_main is greater than macd_signal, generate a buy signal.
5. Check for sell signal:
   • If ma1 is less than ma2, rsi is less than 50, and macd_main is less than macd_signal, generate a sell signal.
6. If no signal is generated, set both buy and sell signal buffers to empty.

The calculated buy and sell signals are stored in the indicator buffers (BuySignalBuffer and SellSignalBuffer), which are then plotted on the chart.

Product Description

The KT XMaster Formula MT5 is a reliable custom indicator developed by the Forex Robot Easy Team. It uses a combination of moving averages, RSI, and MACD indicators to generate accurate buy and sell signals for trading.

Key Features:

• Uses moving averages, RSI, and MACD indicators for signal generation.
• Provides clear buy and sell signals on the chart.
• Suitable for all currency pairs and timeframes.
• Can be used for both scalping and swing trading strategies.
• Easy to use and customizable.

Please note that ForexRobotEasy is not the official developer of this product. We have provided this sample code to demonstrate how the indicator works based on the product description. To find the official developer and access detailed reviews and trading results of this product, please visit forexroboteasy.com or use MQL5 platform.