Pips Chaser MT5
- Indicators
-
Rodrigo Arana Garcia
I have a degree in economics and a master's degree in financial markets.
I have been studying the markets for the last 10 years and developing algorithmic techniques for the last 7 years. - Version: 1.21
- Updated: 20 July 2026
Pips Chaser indicator has been developed to complement your manual trading. This indicator can be used for both short scalping and long swing trading // MT4 Version
Features
| No repaint indicator | This indicator does not change its values when new data arrives |
| Trading pairs | Any currency pair |
| Time frame | H1 is preferable, but you can adapt it to any timeframe |
| Trading time | Around the clock |
| Buffers | Buy Buffer: 0 / Sell Buffer: 1 |
Requirements
The use of an ECN broker with tight spreads for scalping some positions is mandatory.
Don't trade on medium impact and high impact news release time.
How to install
Attach the indicator to the preffered trading pair (H1 is recommended).
Configuration
Here you can modify the parameters of the indicator to adopt the strategy that works best for you.Indicator settings:
Additional settings:
Here you can change the colour of the different parts of the indicator. You can also change the configuration of the alerts.
How to use it
When you see the box breakout arrow in the chart then you have to take buy or sell trade.
You have to close the trade when the candle touches the trend line.
When the trend line and the snr line touch each other at the same level, then that would be an ideal level to book profit.
When the trade line is far away from each other, in that situation, that trade will give you more profit. And when the trade line is less than each other, in that situation, that trade will give you less profit.
You have to set the stop loss at the bottom line of the breakout box.
Warnings
I only sell my EA's on MQL5.com. If someone contacts you to sell you my EA's, then they are scammers who only want your money.
Also if you buy my EA's from an external website, I assure you that they will be fake versions and will not work the same as the original ones.

Thank you; it is an excellent and precise indicator that identifies trade orders with outstanding accuracy and precise lines.