Pipboxer Indicator

Pipboxer Indicator

Pipboxer Indicator For MT4 provides overbought and oversold conditions and provides forex trading signals with excellent risk reward ratio
The Pipboxer indicator for MT4 is an oscillator that provides oversold and overbought forex trading conditions. So, traders can use this indicator to buy or sell at extreme market conditions to enter a profitable reversal trade. Since this indicator focuses on identifying price reversal entry point traders should use it in confluence with other technical indicators or price action.

The indicator works well in chart time frames higher than M15. Since the indicator provides choppy trading signals in lower time frames, new traders should exercise caution. Advanced forex traders can use the indicator to plot reversal signals for entry and exit. The indicator is suitable for intraday, short and long term trading.

Pipboxer Indicator For MT4 trading Signals

The indicator plots the oscillator as a red line with a dotted line on the +100 and -100 levels. The trading strategy is based on the crossover or indicator line above the -100 upwards or +100 downwards. Forex traders should consider the +100 level as overbought condition and anticipate the price to turn bearish. Similarly, indicator values -100 as oversold condition which indicates that a bullish price movement is due shortly.

Once the indicator values move lower the -100 and then reverses above -100 traders should enter a buy position. A stop loss should be placed below the previous swing low and look to book profits once price reaches +100.

On the other hand, if indicator values rise above +100 and reverses traders should place a sell trade. Holding the position until the price hits the opposite level provides maximum profits, however if price action suggests otherwise traders should consider an early exit.

Conclusion
In summary, the pipboxer indicator for MT4 is an oscillator that helps forex traders to identify price exhaustion areas and potential reversal area.