This indicator is part of the 4X Pip Snager System:
4X Pips Snager M1 Scalping System
EURUSD is the most profitable currency pair for this forex strategy. Trade the UK Opening session. Another profitable timeframe is the US Opening session 02:00 – 04:30 EST.
4X Pip Snager M5 Intra Day System
Very similar to the M1 Scalping System. The main difference is in the 5 minute chart whereas the Scalping System uses the 1 minute chart.
Set Stop Loss above/below the most recent swing high/low. Have a 2:1 Target, so if the Stop is 25 the Target will be 50.
It can also be used for swing trading.
How to trade
Reading this indicator signals is quite simple:
- BUY when the indicator turns blue
- SELL when the indicator turns red
- File: 4X Pip Snager Trend.ex4
- Size: 3 Kb