This forex indicator is designed to operate on the same basis as the moving average indicators. This indicator is straightforward to use, and it is recommended for forex beginners. It will show you when to put trades and when to close them. The only thing you require as a trader is to understand what a signal means.
When using this forex indicator, the trader will always have a running trade in the market, thus ensuring that the trader benefits maximally from the market swings. The efficiency of this forex indicator is also very high ranging between 90-95%. This means that most of the trader’s trades with this indicator will result in profits.
This indicator is a trend forex indicator. It determines the type of current trend that is in the forex market. This forex indicator is fit for use when trading any of the mt4 currency pairs of your choice, and you can use it in any time frame as you desire.
This forex indicator displays two lines and two kinds of arrows. All the information on this indicator is displayed on the main mt4 trading chart. But the indicator keeps the mt4 chart clean for the trader to add anything else they may so desire.
The two lines displayed are slow and fast-moving averages, although they are referred to as Forex_Pips_Striker_Indicators. The slow-moving Forex_Pips_Striker_Indicator is the red one, while the fast-moving Forex_Pips_Striker_Indicator is the blue one. The signals for trading and closing the trade are given when the two Forex_Pips_Striker_Indicators cross each other. At that instance of crossing one another, some arrows are displayed to aid the trader in making the trading decisions. The indicator arrow generated is either aqua or blue.
Fig.1. The Forex Pips Striker Indicator.
When the fast-moving average (Forex_Pips_Striker_Indicator) crosses above the slow moving average (Forex_Pips_Striker_forex_Indicator), the trend indicated is an uptrend. And at this time, the blue color arrow is generated. On the other hand, the slow-moving average (Forex_Pips_Striker_Indicator) crosses over the fast-moving average (Forex_Pips_Striker_Indicator), then a downtrend is indicated, and an aqua colored arrow is shown.
How to Open orders using the Forex Pips Striker Indicator
The trader is supposed to place orders when the arrows are generated.
- The Aqua color arrow (usually point down) shows a downtrend.
- The Blue color arrow shows an up (usually points up) trend.
However, the trader should always ensure that they open a Buy or sell order after the candle generated the arrow closes.
Placing a sell order: the sell order should be placed at the beginning of the second candle or in the next candle that forms after the aqua arrow is generated.
Placing a buy order: The order should be placed at the beginning of the second or in the next candle that forms after the aqua arrow is generated.
The order is closed when an opposite signal is generated. Therefore there is no need to use stops.
Fig.2. Placing orders using the Forex Pips Striker Indicator.
Pips Striker Forex Indicator Free Download