Forex Pips Magnet Trading System Indicator

The Forex Pips Magnet Trading System combines multiple indicators to illustrate a trend direction system on the chart. In this guide, we’ll mention the system and how you can trade it. 

What is the Forex Pips Magnet Trading System Indicator?

The Forex Pips Magnet Trading System isn’t just one indicator; it combines several indicators that can help find the trend’s direction. There are multiple aspects of the indicator, including;

  • Supply and demand levels
  • Fractals
  • Multiple profit targets and stop-loss levels
  • Current direction
  • Current signal
  • Spread on the current pair

When you first look at the indicator, it resembles the Elliot Wave, as it creates legs on the tops and bottoms. You can apply a similar strategy or use a different one to trade with the indicator.

Forex Pips Magnet Trading System
Forex Pips Magnet Trading System

Forex Pips Magnet Trading System Strategy

There are many ways to trade with the Forex Pips Magnet Trading System. The first strategy is to apply a simple buy/sell signal strategy.

When the system shows the UP direction and there is a buy signal, you can take a long position. Conversely, you can go short when the system shows a DOWN direction and a sell signal.

The other way to trade with the indicator is by using the supply and demand levels. The good thing is with the Forex Pips Magnet Trading System. You don’t have to draw the supply and demand levels manually. When the price hits the demand level, you can go long; when it hits the supply zone, you can go short.  Generally, the system starts a new leg when the price hits the supply or demand zone.

All the indicators act as confirmation signals, and you can take your positions accordingly.

The good thing is you can use the indicator on all timeframes; however, supply and demand zones may not work properly on shorter timeframes.

Buy Signal

  • The price must hit the demand level, and there should be a BUY signal.
  • Wait for the price to go above and then enter on the next candle.
  • Place a stop-loss automatically as the Forex Pips Magnet Trading System suggests, or do it manually on the recent swing low.
  • Set multiple take-profit levels with Forex Pips Magnet Trading System.
Forex Pips Magnet Trading System buy signal
Forex Pips Magnet Trading System buy signal

Sell Signal

  • The price must hit the demand level, and there should be a SELL signal.
  • Wait for the price to go below and then enter on the next candle.
  • Place a stop-loss automatically as the Forex Pips Magnet Trading System suggests, or do it manually on the recent swing high.
  • Set multiple take-profit levels with Forex Pips Magnet Trading System.

 

Forex Pips Magnet Trading System sell signal
Forex Pips Magnet Trading System sell signal

Forex Pips Magnet Trading System Pros & Cons

Here are the pros and cons of the Forex Pips Magnet Trading System:

Pros

  • The system adds multiple indicators for signal confirmation.
    It can present exact entry and exit points.
    You can apply multiple strategies.

Cons

  • The indicator may seem confusing.
  • There will be false signals.

Conclusion

The Forex Pips Magnet Trading System tells about the trend’s direction by adding multiple indicators. The system gives exact entry and exit points if all the indicators align. You can use the indicator for trend continuation and reversals.

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