The Pip Trend forex indicator is a crossover MT4 system which consists of a blue and red signal line.
A bullish signal is created when the blue signal line crosses back above the red signal line from below.
Vice versa, a bearish signal is created when the red signal line crosses back above the blue signal line from below.
The indicator displays the current trading signal “buy” or sell” in the upper left corner of the MT4 activity chart.
Pip Trend can be used as a stand alone indicator or can be traded together with other analysis tools or technical indicators.
In order to use it as a stand alone, adjust the indicator’s SSP value to 50 or above.
The reduces the number of false crossover trading signals significantly.
Feel free to experiment with the other settings as well.
The EUR/USD Hourly chart below displays the Pip Trend Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Pip Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Buy when the blue Pip Trend signal line crosses above the red signal line from below (trend upward).
Sell Signal: Sell when the red Pip Trend signal line crosses above the blue signal line from below (trend downward).
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (CountBars, SSP, Kmin, Kmax) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the alaskan-pip-assassin-mod-indicator.mq4 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)