For Forex Trading enthusiasts, the Pips Hunter MT4 is a significant tool that has been designed to enhance your manual trading experiences. This trading software is versatile and can be used for both short scalping and long swing trading. Let’s delve into the unique features, requirements, configuration, and usage of this remarkable Forex Indicator.
Distinctive Features of Pips Hunter MT4
What sets the Pips Hunter MT4 apart is its no-repaint indicator feature. Unlike many other indicators in the Forex Market, this tool does not alter its values when fresh data arrives. This makes it a reliable MT4 tool for making informed trading decisions.
This indicator is adaptable to any currency pair, thereby providing its users with a wide range of trading options. Moreover, although the preferred time frame for this tool is H1, it can be adjusted to fit any time frame, making it a flexible tool for diverse trading strategies.
Another intriguing feature is that Pips Hunter MT4 can be used round the clock, which is an added advantage in the dynamic world of forex trading.
Requirements for Using Pips Hunter MT4
The use of an ECN broker with tight spreads is mandatory for scalping some positions when using Pips Hunter MT4. Furthermore, it is recommended to avoid trading during medium impact and high impact news release times to prevent unnecessary risks and losses.
Installing and Configuring Pips Hunter MT4
To install Pips Hunter MT4, it needs to be attached to your preferred trading pair, with H1 being the recommended option. The indicator settings can be adjusted according to your trading needs and strategies, thereby enhancing flexibility and customization.
Additional settings allow users to alter the color of the different parts of the indicator and configure alerts as per their preferences. These features make the tool user-friendly and easily customizable.
How to Use Pips Hunter MT4?
The use of Pips Hunter MT4 involves identifying the box breakout arrow in the chart, which signals when to take a buy or sell trade. The trade should be closed when the candle touches the trend line. Optimum profit booking level is when the trend line and the snr line touch each other at the same level. The distance between the trade lines also influences the profit levels. A wider distance results in higher profits, and a narrower distance results in lesser profits. The stop loss should be set at the bottom line of the breakout box.
It’s important to note that the Pips Hunter MT4 is only sold on MQL5.com. Any offers from other sources should be considered as scams. Users should also be aware of fake versions of this tool sold on external websites.
FAQ
Where can I test Pips Hunter MT4?
Independent testing of Pips Hunter MT4 can be carried out on the forexroboteasy.com website.
How can I stay updated about Pips Hunter MT4?
You can subscribe to updates on the testing results of Pips Hunter MT4 on forexroboteasy.com.
Where can I share my experience of using Pips Hunter MT4?
We invite you to share your experiences of using Pips Hunter MT4 to help others make informed decisions.
In conclusion, Pips Hunter MT4 is a comprehensive tool for enhancing your forex trading experiences. Its no-repaint feature, coupled with its versatility and adaptability, make it an invaluable resource in the Forex Market. Remember, this is an independent product review and we welcome your feedback and experiences. Happy trading!
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