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.
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.