Pip Boxer Metatrader 4 Indicator
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.
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.
USD/JPY Daily Chart Example