Forex Pip Hunter Trend is a trend indicator with some filters, developed for MT4. According to the programmer, the accuracy on buy/sell trades exceeds 70%.
The rules to buy and sell with the Pip Hunter Trend MT4 indicator are very simple, even for beginners.
You will need to open a buy trade position when the blue dot appears on the chart.
Set your take profit target at 40 pips.
A stop loss is not used in this case. You would exit the trade as soon as the red dot appears on the chart (opposite signal).
A sell trade will be initiated as soon as the red dot appears on the chart.
Set you take profit at 40 pips.
A stop loss for sell positions is not used. You will need to close and reverse the position as soon as the blue dot to buy appears on the chart.
It’s recommended to use a low spread Forex broker to maximize your profit potential.
The Pip Hunter Trend indicator can be deployed on any currency pair.
The EUR/USD 1-hour chart below displays the Pip Hunter Trend MT4 indicator in action.
Basic Trading Signals
Signals from the Pip Hunter Trend indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade as soon as the blue dot appears on the chart.
Set your profit target to 40 pips for a buy signal.
Sell Signal: Open a sell as soon as the red dot appears on the chart.
Set your profit target to 40 pips for a sell signal.
Basically, we don’t use a stop loss, rather close and reverse the position when an opposite signal appears on the chart.
Naturally, you can use your own stop loss and take profit preferences.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Colors, Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Copy and paste the Pip Hunter Trend Forex indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)