PO OSAA PipTrapDoor
PipTrapDoor is an indicator that helps to decide the direction of the trend and a safe price that confirm the trend and also as entry price, with a suggested TakeProfit price.
PipTrapDoor can be used with any pair, and with any timeframe. It does not repaint.
PipTrapDoor can be used for scalping and day trading. It’s a trend following and a breakout indicator.
- Either signal arrow or breakout line is missing DO NOT ENTER. If signal arrow and breakout line is happening at the same time GOOD ENTER. See screenshot 2.
- Set a stop order 1 Pip above/below the breakout line to avoid a late entry. Then after breakout and the signal arrow does not show up, close the trade as fast as possible. See screenshot 3.
- Use the appropriate high/low as your stop loss. See screenshot 4.
- Volatility line means close as fast as possible. See screenshot 5.
How I use it personally
- I set stop order and wait for the price to come for me. That is why I call it a trap.
- I don’t have a pip target. Once it is at profit, I close the order and look for trade on another pair. That is why I call it a door. Close a door to open another one.
- There will always be a trade setup. Just change the timeframe “Period()”.
- I do not use the second price breakout. I use the first price level breakout. See screenshot 6.
- It can be used with standard indicator provided by your broker like MA, RSI, Stoch ,CCI, MACD, etc, but it is designed to be used alone.
- TakeProfit Price will always be hit.
- Avoid use with high impact news. See screenshot 7
- TakeProfit Price will not be hit only if the trend is reversing.
- 0 - means my default settings. “PO OSAA”.
- TakeProfit - The higher the Number The Lower the TakeProfit Line.
- History - The number of bars. if you write 0 it means all bar.
- SLOW_OSAA - The higher the Number The Stronger the signal.
- FAST_OSAA - eg:for-M5=0,H1=6,H4=3.
- Signal_OSAA -The Lower the Number The quicker the entry.
- Pop Alert - select true if you want pop Alert.
- Sound Alert - select true if you want Sound Alert.
- Email Alert - select true if you want Email Alert.
- Push Notification Alert - select true if you want Push Notification Alert to your android.
- Write Signal To File - This may cause computer to hang.
- Show TakeProfit Line - Select True to show Take-Profit Price.
- Show Breakout Line for Entry Price - Select True to show entry Price.
- Show Signal Arrow - Select True to show the Signal Bar.
- Txt Font Size - This is the font size of the current Signal.
- Distance of Label from Signal Bar if Use_TextLabel=true - Distance of TextLabel from each Signal bar.
- Use_TextLabel - Select true to show the current and Previous signal Bar.
- Display_Signal - Select true to show the current Signal.
- Up_Line_Color - BuyStop color from Signal.
- Up_Width - BuyStop Width from Signal.
- Up_Style - BuyStop Style from Signal.
- Down_Line_Color - SellStop color from Signal.
- Down_Width - SellStop Width from Signal.
- Down_Style - SellStop Style from Signal.
- TP_Up_Line_Color - TakeProfit Line for BuyStop color from Signal.
- TP_Up_Width - TakeProfit Line for BuyStop Width from Signal.
- TP_Up_Style - TakeProfit Line for BuyStop Style from Signal.
- TP_Down_Line_Color - TakeProfit Line for SellStop color from Signal.
- TP_Down_Width - TakeProfit Line for SellStop Width from Signal.
- TP_Down_Style - TakeProfit Line for SellStop Style from Signal.
- CORNER - Set Corner for Display_Signal.
this version is more user friendly than all the previous version.
this version Can easily be accessed by Expert Adviser.
place your Stoploss to the last high or low. The Arrow represents a Reversal Signal, Allow the Bar with the arrow to close to avoid false Signal.
study the reversal signal very well, I Suggest the breakout signal.
false signal eliminated.
To show the current and Previous entry and takeprofit added new Indicator parameter:
-Use_TextLabel - Select true to show the current and Previous signal Bar.