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Pip Striker
Info
The Pip Striker is a Indicator for MetaTrader 4 that the pip striker indicator highlights the top and bottom ranges of price movement. To use:- Apply the indicator to a weekly chart, set the color, and remove it from the chart.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Pip Striker
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Pip Striker indicator highlights the top and bottom ranges of price movement.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: sm a channel - another powerful indicator for MetaTrader 4 traders.
The Pip Striker indicator highlights the top and bottom ranges of price movement.To use:
- Apply the indicator to a weekly chart, set the color, and remove it from the chart.
Also recommended: Real Value Indicator - similar indicator with strong performance on MetaTrader 4.
- Repeat this process for all currency pairs you trade.Then:
- Change the time frame to daily (D1), set the color, and remove the indicator.
- Repeat for all currency pairs.
- Perform the same steps for the 4-hour time frame on all pairs.
Remember to remove the indicator before switching time frames.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 clrred
double extmapbuffer1[];
double extmapbuffer2[];
double extmapbuffer3[];
extern color linecolor=clrdarkorange;
extern int allbars=240;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.