This indicator was developed by pipscazor.com. It is an easy-to-use indicator that requires a no-brainer when opening trades. The indicator is designed to help the forex traders who trade daily. While using this forex indicator, a trader can make up to 300 pip profit a day.
The indicator has no waves or lines you need to keep track of. It only gives and displays the signals. All the other calculations and other trading logic are hidden from the forex trader. Therefore it leaves the trading mt4 chart very tidy while still meeting the need to provide a trading signal. Also, compared to the rest of the indicators, which take very long to give a signal, the Pip scanner indicator provides several signals daily. Therefore, it is a perfect choice for even the scalpers, although they must be a bit patient. You can make two to 5 trades in a day.
Fig.1. Shows the signals that are generated by the forex Pip scazor indicator.
The indicator gives its entry signals in terms of red and blue color dots. It also gives sound and mail alerts depending on how you have set the forex indicator. Therefore, all is required is that the forex trader stays alert, so close trades and open the trades.
With this forex indicator, it is recommended that you watch the market all day. It would be best if you did not leave trades running. However, if your target is only one good trade in a day, you may open an order, place the take profits, stop losses, and leave the market for the trade to close.
Placing orders using the Pip scazor indicator.
The Pip scazor indicator is very efficient. It gives many signals in a da doesn’t compromise its efficiency. Therefore, for each trade you place, you should be sure of profit only if you do it correctly.
Buy signals are the blue color dots that appear below the market prices. Once the entry signal is generated and displayed, the forex trader should get ready to open a market order on the next candle that starts to form.
The sell entry signals are the red dots that appear at the market levels. It would be best if you did the same when placing your order; wait for the next chart candle and place your sell order.
Once you place your open orders, be it sell or buy orders, you should put a stop loss in case of market news since this indicator is not programmed to take not of them. However, you may close the order yourself or use a take profit for your target profit. It will all depend on you.
Example of how to place orders.
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Pip Scazor Forex Indicator Free Download