PipTrapDoor is an indicator that helps to decide the direction of the trend and a safe price that confirm the trend and also as entry price.
PipTrapDoor can be used with any pair, and with any timeframe. it does not repaint.
PipTrapDoor can be used for scalping and day trading. It’s a trend following and a breakout indicator.
1. Either signal arrow or breakout line is missing DO NOT ENTER
If signal arrow and breakout line is happening at the same time GOOD ENTER.
See screenshot 2.
2. Set stop order 1Pip above/below breakout line to avoid late entry. Then after breakout and the signal arrow does not show up, close the trade as fast as possible.
See screenshot 3.
3. Use the appropriate high/low as your stoploss.
See screenshot 4.
4. If your stoploss Is -30Pip then your take profit should also be 30Pip.
5. Volatility line means close as fast as possible.
See screenshot 5.
1. 0 means my default settings. “PO OSAA”.
2. Maxbar = history .
3. PO_FASTSLOW_OSAA = the slower Moving average.
4. PO_SLOW_OSAA=slow moving average.
5. PO_FAST_OSAA=signal line.
How I use it personally.
1. I set stop order and wait for the price to come for me. That is why I call it trap.
2. I don’t have a pip target once it is at profit I close the order and look for trade on another pair.
That is why I call it door. Close a door to open another door
3. There will always be a trade setup. Just change the timeframe “Period()”.
4. I don’t use the second price breakout. I use first price level breakout.
See screenshot 6
It can be used with standard indicator provided by your broker like Ma, Rsi, Stoch ,Cci,Macd.etc. but it is design to be used alone.
1. I always close at profit because PipTrapDoor only know that there will be a breakout at a particular/specific price level
I use autochatist volatility level as main takeprofit. Ask your broker about autochatist.
2. Avoid use with high impact news.
See screenshot 7
I will like to read your review.