Pips Striker Strategy For MT4

Pips Striker Strategy For MT4

The Pips Striker Strategy For MT4 is a short term intraday scalping trading system. This trading strategy follows the concept of trends. For traders who like consistency in their trading, while also liking the dynamic trading that comes with short term charts, the 52 pips striker forex strategy for MT4 can prove to be a reliably good forex trading system that you can experiment with.

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Are quite a few indicators used in the 52 pips striker forex strategy. Upon analyzing these indicators, we find that you can further reduce the number of indicators in order to enhance the performance of the trading template that comes with this strategy. This is because, we find a couple of redundant indicators which do not really add value to the trading system itself. Therefore, by limiting the number of indicators used in the 52 pip striker forex strategy, you are able to improve the performance and also ensure that the trading template does not freeze up your trading terminal.

The first indicator used in the 52 pips striker strategy is called the empty for background indicator. As the name suggests this indicator is used for setting the background color of your trading terminal. However, if you have been trading for even a short period of time you will know that you can easily change the background colors by the standard settings offered by the MT4 trading platform. This reason alone, we do not require this indicator to be part of the 52 pips striker strategy.

The next indicator in this trading system is called the currency power indicator. This indicator is denoted on the price chart and as you can see it shows the currency strength for some of the major currency pairs. You can fully customize this for any currency that you are interested in.

Finally, on the price chart, the most important indicator is called the arrows and curves indicator. This indicator is responsible for plotting the price channel that you can see as well as the up and down arrows not come with it. This price channel indicator is perhaps the most important in the 52 pip striker forex strategy.

There are two other indicators which are located in the sub windows of this trading template. The first is called the GANN 4 hour indicator. This indicator merely changes color depending on the trends in the price. It switches from blue to pink and vice versa when the trend is moving from an uptrend to a downtrend respectively.

In the next sub window, we have another indicator called the deep bar indicator this indicator plots a histogram and once again changes color from red to blue depending on the trends in the price. Let's now take a look at how you can use these indicators towards building a trading strategy.



The Pips Striker Strategy For MT4 – Long positions




To take long positions using the 52 pip striker strategy, we need to see prices moving in an uptrend. This means, you should wait for price to break the upper price channel. When price closes above this level, you will see also that an up arrow is pointed. Following this, we need to look at the confirmation from the two other indicators in this trading system.

Firstly, we need to see the GANN indicator turning from pink to blue. This indicates that the momentum is shifting to the upside. We can also look to the deep bar indicator to also change colors from bearish to bullish. When you see that both the indicators in the sub window show the same color, they basically signal that the price trend is to the upside.

When all the above conditions are met, you can now take a long position at market. Set your stop loss to the recent low that formed. This usually forms where the up arrow appears. For your take profit, you can either set in based on a calculated risk to reward ratio or you can use the pivots indicator that also comes with this trading strategy.



The Pips Striker Strategy For MT4 – Short positions




To take short positions using the 52 pip striker strategy, we need to see prices moving in a down trend. This means, you should wait for price to break the lower price channel. When price closes below this level, you will see also that a down arrow is pointed. Following this, we need to look at the confirmation from the two other indicators in this trading system.

Firstly, we need to see the GANN indicator turning from blue to pink. This indicates that the momentum is shifting to the downside. We can also look to the deep bar indicator to also change colors from bullish to bearish. When you see that both the indicators in the sub window show the same color, they basically signal that the price trend is to the downside.

When all the above conditions are met, you can now take a short position at market. Set your stop loss to the recent high that formed. This usually forms where the down arrow appears. For your take profit, you can either set in based on a calculated risk to reward ratio or you can use the pivots indicator that also comes with this trading strategy.



Is the Pips Striker Strategy For MT4 for MT4 profitable?


In conclusion, the 52 pip striker forex strategy is a very simple intraday scalping trading system. The trading rules are very simple, and the indicators are also easy to understand. Because of its simplicity, we can recommend that beginners can also use the 52 pip striker forex strategy.

Traders can also gain an additional advantage by focusing on the currency strength indicator that is shown in this trading system. This means that you can focus your trading only on the strongest currency pairs or the weakest currency pairs and trade the trends accordingly.

By removing some of the indicators that are not essential to the trading system, you can further enhance the performance of the trading template. By doing so you can monitor multiple instruments at the same time.

Download the complete system description and the files here:

FREE Pips Striker Strategy

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