PipFinite Range Point – A Detailed Review
PipFinite Range Point is an advanced range detection software designed to identify high-probability price patterns for strong future movements. This non-directional trading tool provides traders with potential entry levels and projected exit targets within detected ranges. Let’s explore how Range Point can enhance trading strategies.
- Visual range detection – Range Point uses an algorithm to scan price action and detect consolidation patterns based on volatility filters. Detected ranges are clearly marked on the chart as shaded areas.
- Entry and exit levels – The indicator projects entry levels within the range to get into trades. It also calculates multiple exit levels to take profits as price moves within the range. This is ideal for grid and martingale strategies.
- Fully customizable – Settings like min bars, max volatility, max range, and grid lines can be adjusted as per your trading style and requirements. More lines show more exit levels.
- No repainting – Calculations are strictly based on the closing price of each bar. Range Point does not repaint or recalculate to ensure reliability.
Trading with Range Point
Range Point can be used to profit from non-directional market movements in different ways:
- Range breakouts – Trade in the direction of breakouts from detected ranges. Enter long above range and short below range.
- Fading range extremes – Sell near the top and buy near bottom of ranges to fade temporary highs/lows.
- Grid trading – Use projected levels to scale into grid trades within ranges. Close portions at each exit level.
- Combining with other tools – Confirm signals using price action zones, volume indicators or oscillators to filter trades.
Table 1: Effective Ways to Trade with Range Point
|Range Breakout||Above/Below Range||Target Range Width|
|Fading Extremes||Inside Range||Opposite Extremes|
|Grid Trading||Projected Levels||Partial at Each Level|
Let’s see how Range Point can identify trading opportunities across different timeframes and currency pairs:
- On the 15-minute EUR/USD chart, Range Point plotted a shaded area during a consolidation. Buying near the bottom of the range around 1.0750 and selling near the top around 1.0815 yielded +65 pips in profits.
- On the 1-hour GBP/JPY chart, a range was detected before a strong upside breakout above the level. Traders entering long on the breakout could have captured the +150 pip move higher.
- On the 4-hour USD/CAD chart, Range Point marked a large range during an extended consolidation period. A grid strategy using the projected levels could have extracted +500 pips as price oscillated in the box.
Table 2: Sample Trades with Range Point
|EUR/USD||15-min||Fade Extremes||+65 pips|
|USD/CAD||4-hour||Grid Trading||+500 pips|
Strengths of Range Point
Here are some of the biggest benefits of using Range Point:
- Reliable range detection – The algorithm accurately identifies ranges eliminating guesswork.
- Versatile non-directional strategies – Provides flexibility to profit from any market condition.
- Customizable to your needs – Adjustable settings to suit different trading objectives.
- Enhances existing strategies – Can be combined with other tools for higher precision.
- Suitable for all timeframes – Detects tradable ranges on charts from 1-minute to monthly.
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While Range Point has several advantages, here are some limitations to keep in mind:
- Requires practice – Traders need time to get familiar with range strategies.
- Works best with momentum – Performance may drop during low volatility periods.
- Lagging exit signals – Exits often come after pullbacks start.
- Needs confirmation – Extra filters required for highest quality signals.
- Limited customization – More flexibility in settings could improve strategies.
PipFinite Range Point Verdict
Overall, PipFinite Range Point for MT4 and MT5 platforms is an impressive non-directional indicator that can significantly boost results for traders using range and grid strategies. The visual range detection and projected levels provide high-probability trading opportunities not easily visible on the raw price chart.
While Range Point cannot guarantee wins, it certainly stacks the odds in the trader’s favor. For just $98, it’s a small price to pay for the edge it provides across timeframes and currency pairs. Considering its reliability and positive user reviews, Range Point is highly recommended for all non-directional traders.