Pips Pointer analyzes the current market state and provides information on the current trend (or its absence). It also generates accurate and timely buy/sell signals, as well as offers to exit the market if a trend is over or a correction has started. The trend analyzer defines both strong up (Trend UP) and down (Trend DOWN) movements, as well as flat. The white dashed line means the price is above the daily pivot point, the red dashed line means that the price is below the daily pivot point, and the yellow dashed line notifies that the price is moving in a narrow channel near the pivot.
The indicator also shows one or two trend lines changing color and location relative to the price chart. In case of a bearish trend, the indicator plots red lines above the price chart. In case of a bullish trend, it plots white lines below the chart. Beginning of a new trend is accompanied by SoundAlert. The indicator considers the average daily price change interval per symbol and sets expected daily Take Profit Buy and Take Profit Sell levels on a chart. Stop Buy/Stop Sell signals appear when the price exceeds calculated daily TP Buy/TP Sell levels in case a reversal or correction starts. The indicator works on all symbols and timeframes.
- period - indicator sensitivity. The recommended values are from 10 to 50.
- Corner - trend analyzer location on a chart: 0 - upper left corner, 1 - upper right corner, 2 - lower left corner, 3 - lower right corner.
- SoundAlert - sound alert of a new trend start.
- EmailAlert - email notifications.
- Trend UP - strong bullish movement.
- Trend DOWN - strong bearish movement.
- - - - - - - - flat movement.
- TP Buy - expected daily Take Profit Buy level.
- TP Sell - expected daily Take Profit Sell level.
- Stop Buy - offer to close a Buy order when UP trend is replaced by correction.
- Stop Sell - offer to close a Sell order when Down trend is replaced by correction.