This indicator is also often called the “100 pips FX gainer”. It is a complete trading tool made chiefly for trading the FX markets fully and consistently.
This forex indicator is founded on a system that foretells the chart price movement in advance. The principal working of this forex indicator is based upon price action and mt4 custom indicators.
Pips fx gainer indicator has an efficiency of 80 to 85%. This forex indicator is optimized for use on 15 min, 30 min, 1H, and 4H daily. However, it also works fine on 1-min 5 min chart timeframes, but the signals it will provide on these two chart timeframes will not be precise. The other thing is that, unlike some forex indicators which work well on specified currency pairs, this forex indicator is suitable for all the currency pairs.
This indicator comes in a file containing executable files: pipsfxgainer.ex4 is for use if your account is with a five-digit broker. When you insert the indicator on your mt4 trading chart, the indicator will be displayed on a separate chart. It shows bars that are white and blue with varying lengths. The blue-colored bars indicate a rise in the market prices, while the white bars indicate a drop in the market prices.
Fig.1. The Pips fx gainer indicator.
When trading using this forex indicator, it is of paramount importance to consider the following:
- First, you should identify the market Trend that is predominant in the market. It would be best if you always traded according to the Trend.
- Then, it would be best to ignore all the signals that the indicator may give against the current Trend.
- Avoid trading whenever the market is flat (no significant swings in the market prices).
To ensure that this is clear, let us, for instance, take a stance when the Trend is up, and then suddenly you get a “sell” signal. It would be best if you automatically ignored this signal. And wait for a “buy” entry signal so that you can enter an order. This is the most important rule.
When identifying the Trend, you can use custom indicators like moving averages, RSI, and any other of your choice that you trust and are precise.
Placing positions using Pips fx gainer indicator
The 100 pips FX gainer generates entry signals by changing colors. The trader is supposed to place a trade order when there is a popup alert.
Long trade entry signals occur when the 100 pips FX gainer changes its color from White to Blue. BUT YOU HAVE TO CONFIRM THAT THE TREND IS UP.
Short trade entry signals occur when the 100 pips FX gainer changes its blue to white color. BUT YOU HAVE TO CONFIRM THAT THE TREND IS DOWN.
After placing your orders, you have to put stop levels. You can opt to use the stop level shown in the popup alert window, usually, the previous candle high or low, plus extra value-adding your trading style, which can change from the indicator’s given parameters.
You can opt to place your stop loss using strong support and resistance levels which is a better trading style.
Fig.2. Placing trades using the Pipsfxgainer indicator.
Pips FX Gainer Forex Indicator Free Download