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Forex Pip Maker

Introducing Forex Pip Maker: A trend detection/riding tool

Let me introduce you to "Forex Pip Maker," a tool that is used for any kind of market condition.

Seize Opportunities with Instant Alerts

In Forex, timing is crucial. Forex Pip Maker comes with an alert system that keeps you updated on potential trading chances with it's real-time alerts.

Navigate Tricky Sideways Markets with Ease

Ever been puzzled by those times when the market seems stuck, making it tough to decide your next move? That's where Forex Pip Maker excels. It's great at spotting and guiding you through these tricky sideways market situations. It does this by keeping an eye on changes in market volatility, ensuring you stay one step ahead.

Simplicity Meets Precision with Color Codes

Trading can be complex, but Forex Pip Maker simplifies it. It employs a color-coded system, making it easy to understand market signals. Green means one thing, red means another – it's that straightforward. You'll be able to make well-informed decisions effortlessly.

Make Confident Choices with the Buy/Sell Dashboard

When decision time arrives, rely on the Buy/Sell dashboard. It provides all the information you need to make smart choices. No more second-guessing – you'll have a crystal-clear view of your options.

See the Bigger Picture with Longer Timeframes

Forex Pip Maker doesn't just focus on short-term trends. It also examines data from longer timeframes, giving you a broader perspective for even wiser decision-making.

Whether you're a novice or a trading expert, Forex Pip Maker is a great addition to any trading setup.

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INPUTS

TimeFrame: This is the time frame which the Forex Pip Maker will calculate the time frame for. By default, it will be the current chart which you've selected, you can however change this to any time frame and display it on any time frame chart which you use. For example, if you want signals for the H1 time frame while you are on the M15 time frame, you can set this to H1 and you'll see the H1 scenerio. It is recommended to leave this the default because the next setting is more important.

TimeFrame: This is the time frame which the Forex Pip Maker will calculate the time frame for. By default, it will be the current chart which you've selected, you can however change this to any time frame and display it on any time frame chart which you use. For example, if you want signals for the H1 time frame while you are on the M15 time frame, you can set this to H1 and you'll see the H1 scenerio. It is recommended to leave this the default because the next setting is more important.

TimeFrameConfirmation: This is the time frame where it will help filter out most of the false moves on your current chart. With this, you will only receive signals in the direction of the trend on this time frame which should always be set to a higher time frame than the one you are trading on. The higher the time frame, the more accuracy you'll have but the fewer signals you will have(which is normal).

TimeFrame: This is the time frame which the Forex Pip Maker will calculate the time frame for. By default, it will be the current chart which you've selected, you can however change this to any time frame and display it on any time frame chart which you use. For example, if you want signals for the H1 time frame while you are on the M15 time frame, you can set this to H1 and you'll see the H1 scenerio. It is recommended to leave this the default because the next setting is more important.

Periud
Input Setting: When using this indicator, traders and users can set a value called "Periud." It's like telling the indicator how far back in time to look. This helps you decide how many past price points or time periods the indicator should pay attention to.

Calculation: Inside the script, this "Period" value is used to do some math. It helps figure out which historical data should be used to make the indicator's predictions.
Effect on Indicator: The "Period" you choose can change how the indicator acts. If you pick a short "Period," the indicator quickly responds to recent price changes. But if you choose a longer "Period," it smooths out its predictions by considering a broader history of prices.
Customization: Traders can tweak the "Period" to match their own trading style. Short "Periods" are great for looking at short-term trends, while longer "Periods" are better for spotting long-term trends. It's all about making the indicator work the way you want it to.

Speed
The 'Speed' setting is like a speed control knob. Traders and users can adjust it to make the indicator react to price changes either quickly or slowly. If you turn the 'Speed' up, the indicator becomes faster and responds to short-term price moves. But if you turn it down, the indicator moves more slowly and focuses on longer-term trends. This way, traders can make the indicator work the way they want it to, whether they prefer quick responses with higher 'Speed' or smoother, longer-term views with lower 'Speed'.

Price
The "Price" option is a handy setting. It lets users pick which part of the price data to focus on when using the indicator. You can choose from different options like "Close," "Open," "High," "Low," "HLC3," "HLC2," and "OLC4." Each choice represents a different aspect of the price movement. For instance, "OLC4" considers Open, Low, Close, and High prices together. This customization is great because it means traders can make the indicator work just the way they want it to. Whether you're into short-term or long-term trading, there's a "Price" option to fit your strategy.

Shift
When utilizing the indicator, traders can input a "Shift" value, which determines how many bars or candlesticks the indicator's data is shifted. A positive shift takes the analysis back in time, providing insights into past market conditions, while a negative shift shifts the focus forward, potentially offering glimpses of potential future market scenarios. This customization of the "Shift" setting provides traders with a valuable means to explore historical data and consider potential future developments in their analysis.

ShowHisto
The "ShowHisto" option is like a toolbox for tweaking how you see the indicator's histogram on the chart. It's all about personalizing your view. You've got choices like "Hide Histogram" for a cleaner chart, "More or Less" for judging how much prices are changing, and others like "One Close," "Double Close," "High/Low range," and "High/Low trend," each giving a different take on price movements. It's your way of fine-tuning the chart to match your analysis style. Whether you're into spotting trends, measuring volatility, or watching price ranges, "ShowHisto" helps you tailor the chart to your liking without any extra fuss.

ShowMA
The "ShowMA" parameter serves as a crucial tool for configuring the display of a specific type of moving average on the chart. It offers a range of options to tailor the appearance of the moving average, allowing users to select the most suitable representation for their analytical needs. The available choices include "Hide Moving Average" to remove it from view, "as Dots" to present it as discrete data points, and "as Line" to display it as a continuous, smoothed line. "ShowMA" grants users the flexibility to fine-tune the visual presentation of the moving average, enabling them to align it with their chart aesthetics and analytical requirements. Whether the preference is for a minimalist, unobtrusive look or a detailed and comprehensive view, "ShowMA" facilitates precise customization of the moving average's presentation on the chart.

FilterPips
"FilterPips" acts like a precision tool for examining price changes on the chart. It lets you specify a certain number of pips, which represent very small price movements. This number becomes a kind of filter. If you choose a positive value, the script will highlight price movements that are larger than this filter, helping you notice significant shifts. Conversely, if you choose a negative value, it will ignore price drops that are smaller than the filter. Essentially, "FilterPips" allows you to zoom in on the price movements that align with your analysis, providing a clearer focus on the chart.

MinimumPreviousTrendDistance
Traders have the power to decide how far the price needs to move before a new trade signal pops up. It's like setting your own trading rules. If you want a new trade signal, the current price must move a certain distance from the previous trend. You can tweak this distance to control how often you get trade signals. Bigger distances mean fewer signals. It's all about putting you in control and helping you make informed trading choices based on significant price moves.

WhichArrows
Although not a very important setting, you can set a preferred option, such as "More or Less" or "Double Close," and the script will display trade signals based on the chosen condition. This customization ensures that the chart reflects the trader's unique strategy and criteria, making it easier to focus on relevant trade opportunities.

ARROWBAR
ARROWBAR functions as a user-defined reference point, allowing traders to specify how many bars or periods in the past the script should begin searching for trade conditions. This level of customization means that trade signals can be precisely placed on the chart based on a trader's strategy.

ShowBoard
The Forex Pip Maker has a dashboard that displays directly on your chart which displays Buy or Sell when the appropriate time has come. It displays the brokers server time as well as the momentum(trend) of the current market. You can enable or disable this.

BoardColor
Allows you to change the background color of the board as well as the font displays inside.(Only the server and momentum info can be color changed)

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IDEAL PAIRS: Since the Forex Pip Maker's strength is riding trends, the trend-bound pairs are the best to use for trading. There are a few pairs that have had decent trend rides in the recent times and they are mentioned below.(Note that you can use any pair in theory, but these are ideal)