The PipBoxer forex trading strategy is a forex trading system that is designed to scalp the market for small profits in a consistent manner.
This strategy can generate an average of 6 trades per day by deploying both the PipBoxer indicator custom indicator and the PinBar indicator.
MetaTrader4 Indicators: PipBoxer_indicator.ex4 (default setting), PinBar.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes
Recommended Trading Sessions: Any
Currency Pairs: major pairs + EUR/JPY and GBP/JPY
Buy Trade Example (Click the picture for full size)
Long Entry Rules
Initiate a buy entry if the following conditions are true:
- If a green upward pointing arrow of the PinBar custom indicator forms below price bars, it is an indication that price is being pushed higher i.e. a bullish trend.
- If the red line of the PipBoxer indicator dips below the -100 level (oversold level), price is expected to bounce back higher, thereby giving way for a bullish trend.
Stop Loss for Buy Entry: Place stop loss ~ 5 – 15 pips below entry price.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on position(s) if the any of the following rules or conditions are met:
- If a red downward pointing arrow of the PinBar custom indicator forms above price bars in the course of riding a bullish trend, it is a signal for a reversal, as such an exit or take profit is imminent.
- As shown on Fig. 1.0, if the red line of the PipBoxer indicator breaks above the 100 level (overbought region), an exit or take profit is in the cards.
Sell Entry Rules
Place a sell order when the following chart or indicator pattern are in display:
- If the red downward pointing arrow of the PinBar custom indicator forms above price bars, it signals increased price pressures in favor of the bears – this translate into a sell alert.
- If the red line of the PipBoxer indicator is swimming above the 100 level (overbought region), it indicates that price is overbought and a bears market is looming.
Stop Loss for Sell Entry: Place stop loss ~ 5 – 15 pips above entry price.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit on position(s) if the following chart or indicator patterns are in display:
- If the PinBar custom indicator forms a green upward pointing arrow below price bar, it is a signal of a reversal or a sign that buyers are gaining momentum in the market, as such a trigger for an exit or take profit.
- If the PipBoxer indicator breaks below the -100 level, it is a signal that price has entered the oversold region, as such an exit or take profit should be applied.
About The Trading Indicators
The PipBoxer_indicator.ex4 is an oscillator that swings between the 100 and -100 levels, along with fixed maximum and minimum at 276.5748 and -214.3367 respectively. The 100 region of the indicator denotes an overbought region, while -100 region denotes the oversold area.
The PinBar custom indicator signals reversal in price via the use of its red and green arrows which denotes bearish and bullish trends respectively, when aligned above or below price bars.