Winmaxpips.com developed this indicator. The indicator is shown, and its returns are good. It is an indicator recommended to all types of traders, both beginners, and forex experts. We can use it for traders who trade using different brokers. It is also fit for all mt4 currency pairs and time frames.
This forex indicator is displayed on a separate mt4 chart below the main trading chart. The forex trading chart is left tidy, just as most traders like it. You can solely depend upon the indicator without using any other indicator unless you desire.
The Win Max Pips indicator consists of bars formed from a middle zero level. The chart bars are either formed on the lower or up side of the zero line (level). This forex indicator’s chart has a scale on the right that ranges from -0.0002 to 0.0002. Therefore the length of the chart bars that are formed can be towards the -0.0002 0r 0.0002 mark. The -0.0002 level is on the low side, and any chart bar that forms facing in its direction shows a sell entry signal. The 0.0002 indicator level is on the top, and any chart bar that forms in its direction shows a buy entry signal.
The bars that form on the up side of the zero-level line have green arrow tips, while those that form on the low side have a red color arrow on their tips; depending on the strength of the chart candles that form on the main mt4 trading chart, the bars that form on the forex indicator chart range from short to too long.
Fig.1. The Win Max Pips indicator is below the main trading chart.
The indicator is straightforward to use and requires the trader to note which side of the zero line the bars form. It is based on the Forex market prices trend and the candle formation’s strength. The strength of the chart candle formation is calculated from the power of the involved currencies. The strength of the chart candles is proportional to the length of the chart candles.
How to trade when using the forex Win Max Pips indicator
The forex trader should trade at the beginning of the formation of bars on either side of the zero line. It would be best to place trades after too many chart bars have formed. At the same time, we should at least put an order after about two chart bars have formed. This means that you should put an order on either the second or third bar of the indicator.
When the bars formed by the forex indicator are above zero, place a buy. If the chart bars formed are on the negative side (below), the zero line place a sell. After placing an order, you should put a stop loss and take profit. The take profit should be at a distance of around ten pips and a stop loss of the same.
Example of trades opened using the Win Max Pips indicator.
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Win Max Pips Forex Indicator Free Download
