100 pips Forex Indicator For Metatrader 4
The 100 pips Forex indicator for Metatrader 4 is an open up-to-the-minute indicator that’s used to plot high-precision buy/sell market signals based on the crossover of its moving averages.
The 100 pips Forex indicator frequently gains 100 pips profit on the 1-hour trading chart.
The indicator is designed simple and is used to determine the overall trend of the currency that is applied to the chart.
The indicator appears on the chart window in the form of a pair of moving averages lines.
The lines come up as red and blue and are able to measure the predominant wave in a trend, using a simple crossover technique.
Traders can use this crossover method to determine when a trend is going to change.
Buy and sell trends from the 100 pips Forex indicator goes as follows:
- Red line crosses below the blue line in a bottom up fashion on the activity window for a buy signal.
- Red line crosses above the blue line in a top downward manner on the activity window for a sell signal.
Tip: In most cases, trading the 15-Minutes, 30-Minutes and 1-Hour time frames in combination with the MACD indicator and the 100 pips indicator yields remarkable results.
In this case:
- A buy trend takes place when the silver histograms of the MACD indicator align above the zero horizontal levelwhile the red line of the 100 pips indicator crosses below its blue line.
- A sell trend takes place when the silver histograms of the MACD indicator align below the zero horizontal levelwhile the red line of the 100 pips indicator crosses above its blue line.
Alternatively, traders can also use the 100 pips indicator with intraday pivot levels to build a short term intraday trading strategy.
Such a setup will help traders determine to a large extent the proximity of price to the intraday pivot support and resistance levels.
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100 Pips Forex Indicator Chart
Below is an example of how the indicator should appear when added onto the Metatrader 4 chart.
Traders are free to implement this indicator on a wide-range of forex pairs and timeframes of their preference.
Finding Buy and Sell Triggers With The 100 pips Forex Indicator
Below is an example of how to buy and sell forex pairs with this technical indicator:
Buy Trigger: Open buy trade order when the blue line of the indicator crosses below its red line while price bars stays marginally above the lines.
Place stop loss below most recent support level, or use your own stop loss placement method.
Close the buy trade for a reward to risk 2.0:1 ratio or better, or use your own preferred take profit method.
Alternatively, close the buy trade for a fixed take profit target of 100 pips on the 1-Hour chart or 25 pips on the 5-minute scalper chart.
Sell Trigger: Open sell trade order when the blue line of the indicator crosses above its red line, while price bars stays marginally below the lines.
Place stop loss above most recent resistance level, or use your own stop loss placement method.
Close the sell trade for a reward to risk 2.0:1 ratio or better, or use your own preferred take profit method.
Alternatively, close the sell trade for a fixed take profit target of 100 pips on the 1-Hour chart or 40 pips on the 15-minute trading chart.
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Colors , width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (Commodity Channel Index, MACD, DeMarker,…)
- Trend indicators (Parabolic SAR, Bollinger Bands, ADX,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder (click on ‘File > Open Data Folder’).
Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.