Home Forex Service Review XLines MT4 Indicator Review

XLines MT4 Indicator Review

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XLines MT4 can be found on the MQL5 marketplace, there may be others with similar names so we have added a link to it below. Farid Shyhaliev first uploaded the indicator on the 12th of February 2015, it last received an update on the 15th of August 2019 and is currently at version 1.24.

Overview

XLines MT4 is an indicator for the MetaTrader 4 platform, the indicator works by giving you information about the support and resistance of the markets and can be used with any timeframe. You are able to adjust the percentage ratio for each rate to show clearer signals.

It is easy to set up and offers you three parameters.
Period of analysis – used for setting up a number of bars in the current period that is considered during analysis. For example, 800 means that it will analyze the last 800 bars including the current one. 0 value is for analyzing the entire existing history ( default value is 4000).

Positional Power – its name speaks for itself. The value of this parameter can vary from 1 to 100 (multiple of 1). Using this parameter user indicates the positional strength of technical levels. Less is that value – stronger are levels shown by the analyzer.

Default settings:

  • Level Color – DarkGoldenrod
  • Period of analysis – 4000
  • Positional Power – 6

Service Cost

The indicator can be purchased outright with no limitations for $95, there is also the option to rent it, this can be down on a monthly basis which will cost you $10 per month, you can also rent it for a 6 month period which will cost you $21. There is a free demo version, however, within the comment section of the developer clearly states that the free version does not work properly and that you should use the lowest level rental to test the indicator instead.

Conclusion

There are no user reviews for this indicator which is a shame as it means we do not know how people find it or if people feel that it does what it is meant to do. There are a number of comments which are from people who have purchased the indicator, the majority are from the developer and the two that are from customers have been answered by the developer so they may still be actively supporting the indicator. We would suggest getting in touch with them regarding any queries you have about the indicator, especially as the demo version is not fully functional.

This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/7944

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