Introduction to the FX Pip Power Forex Indicator
The FX Pip Power Forex indicator works in a similar manner to the Moving Average Convergence Divergence (MACD) gauge. It measures the strength and direction of the market trend.
When the bars are green and above the 0 level, you should be looking for buy opportunities. Similarly, when the bars are red and below the 0 level, you should be looking for sell opportunities.
That indicator is displayed in a separate window placed just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
We suggest using it in combination with other indicators, but it will do a good job defining the direction of the trend.
How to set up the FX Pip Power Forex indicator in MT4?
Copy and paste the fx-pip-power-forex-indicator.ex4 or fx-pip-power-forex-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The FX Pip Power Forex indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
FX Pip Power Forex Indicator Free Download
To download the FX Pip Power Forex Indicator for Metatrader 4 (MT4) for free just click the button below: