The Pips Hunter Forex indicator for Metatrader 4 is a popular technical tool that delivers precise signals for entering and exiting trades, regardless of the currency pair being traded.
The trading signals appear as simple to follow buy and sell signal arrows on the price chart.
The trade logic works as follows:
- A light-blue colored arrow represents a buying opportunity.
- A light-red colored arrow suggests a selling opportunity.
- Popular technical indicator
- No-repaint buy and sell signal arrows
- Works for scalping, day trading, and swing trading
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple buy/sell entry confirmation tool.
Indicator Example Chart
The GBP/USD 1-hour chart below shows the Forex Pips Hunter indicator in action.
Basic Trading Signals
Signals from the Pips Hunter indicator for Metatrader 4 are easy to interpret and work as follows:
- A light-blue arrow signals a buy trade.
- Execute a buy market order and add a stop loss below short-term support.
- Exit the buy trade for a fixed take profit target of your preference, or await the light-red colored sell arrow.
- A light-red arrow signals a sell trade.
- Execute a sell market order and place a stop loss above short-term resistance.
- Exit the sell trade for a fixed profit target of your preference, or await the light-red colored sell arrow.
Download This Forex Indicator
Adjustable Parameters & Settings
Min range, max range, high low filter, history bars, display profits, display alerts, email alerts, sound alerts, push alerts, colors, and more.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: trading signals
How to install the Pips Hunter indicator in Metatrader 4?
- Copy and paste the Pips Hunter MT4.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right-click on the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button