The Pip Boxer indicator oscillates above and below two extreme values, -100 level and +100 level. -100 level indicates oversold markets. +100 level indicates overbought markets.
Use oversold values to go long in uptrends.
Use overbought values to go short in downtrends.
Trading Signals
BUY: In uptrends: Go long if Pip Boxer crosses -100 from below.
SELL: In downtrends: Go short if Pip Boxer crosses +100 from above.
Use in conjunction with trend analysis indicators/trend lines (see picture below) to determine the primary trend. Avoid trading against the primary trend.
Download
Download the Pip Boxer.mq4 indicator.
USD/JPY Daily Chart Example
How to install the Pip Boxer custom indicator in Metatrader 4?
- Download the Pip Boxer.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.