This indicator was developed by the winmaxpips.com. The indicator is proven and its returns are undebatable. It is an indicator that is recommendable to all types of traders; both beginners and forex experts. It can be used for traders who trades using different brokers. It is also fit for all currency pairs and with all the time frames.
The indicator is displayed on a separate chart below the main trading chart. The trading chart is left tidy just as most traders likes it. The indicator can be solely depended upon without using any other indicator unless you so desire.
The Win Max Pips indicator consists of a bars that are formed from a middle zero level. The bars are either formed on the lower or upper side of the zero line (level). The indicator’s chart has a scale on the right that ranges from -0.0002 to 0.0002. Therefore the length of the bars that are formed can be towards the -0.0002 0r 0.0002 mark. The -0.0002 level is on the lower side and any bar that forms facing in its direction shows a sell signal. The 0.0002 level is on the top side and any bar that forms in its direction shows a buy signal.
The bars that form on the upper side of the zero level line have a green arrow on their tips while those that form on the lower side have a red arrow on their tips. Depending on the strength of the candles that forms on the main trading chart, the bars that form on the indicator chart range from short to too long.
Fig.1. The Win Max Pips indicator below the main trading chart.
The indicator is very easy to use and requires that the trader takes note on which side of the zero line the bars form. It is based on the trend of the Forex market prices and the strength of the candle formation. The strength of the candle formation is calculated from the strength of the involved currencies. The strength of the candles is proportional to the length of the candles.
How to trade when using the Win Max Pips indicator.
The trader should trade at the beginning of the formation of bars on either side of the zero line. You should placing trades after too many bars have formed. At the same time, you should at least place an order after about two bars have formed. This means that you should place an order on either the second or third bar of the indicator.
When the bars formed by the indicator are above the zero level, place a buy. If the bars formed are on the negative side (below) the zero line place a sell. After placing an order, you should place a stop loss and take profit. The take profit should be at a distance of around 10 pips and a stop loss of the same.
Example of trades opened using the Win Max Pips indicator.
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