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