The Pipfinite Razor Scalper Indicator is designed to identify entry and exit points based on short-term trends and quick impulses, and it can be used with various technical analysis tools to confirm signals. In this article, we’ll take a closer look at the Pipfinite Razor Scalper Indicator, its features, pros, and cons, and how it can be used in a trading system.
What is the Pipfinite Razor Scalper Indicator?
The Pipfinite Razor Scalper Indicator is a scalping indicator designed to provide valid signals using a confirmed approach. It functions as an entry indicator and is suitable for use in any pair and timeframe. The indicator filters signals from short-term trends and quick impulses to ensure accuracy. It employs a double confirmation approach to improve signal reliability. The indicator shows the short-term trend direction through background color and indicates price action breakouts through an entry signal arrow. The Pipfinite Razor Scalper Indicator is a flexible tool that can be used in many ways to enhance trading systems. It offers color schemes for both light and dark charts and never repaints, backpaints, or recalculates. The indicator strictly signals on the “Close of the bar” and is compatible with Expert Advisor development.
Pipfinite Razor Scalper Indicator Strategy
The Pipfinite Razor Scalper Indicator provides traders with a simple and effective strategy for trading in the Forex market. For buy setups, traders should wait for a valid scalping buy signal when the background is blue, and there is a confirmed uptrend using the Trend Laser. It’s also important to make sure that the RSI is not overbought to avoid false signals. Conversely, for sell setups, traders should wait for a valid scalping sell signal when the background is red and there is a confirmed downtrend using the Trend Laser. Again, it’s important to make sure that the RSI is not oversold to avoid false signals.
As for exit strategies, traders can use their discretion based on their own strategies. They can exit trades once they turn into a profit, or look for support/resistance areas or reversal signals from price action patterns for quick exits. Time expiry ranging from 2-15 bars or hard targets such as 2-5 Pips on M5, 5-15 Pips on M15, 15-30 Pips on H1, and 30-40 Pips on H4 can also be used as exit strategies. Finally, traders can use the Exit Scope as an alternative exit strategy. For session times, traders can use M5/M15 for scalping during London or US sessions and H1/H4 for swing trading, avoiding the first day of the week.
Buy Signal
- Check if the background is blue, and the Trend Laser is also blue for a confirmed uptrend (optional).
- Look for a valid buy setup using the Scalping Buy Signal.
- Open a long position when the above requirements are met.
- Set a stop loss for your position a few pips below the entry candle or according to your money management strategy.
- Exit the trade once it turns into profit or based on your exit strategy, which may include support/resistance areas, reversal signals, quick exits, hard targets, or exit scope.
Sell Signal
- Check if the background is red, and the Trend Laser is also red for confirmed downtrend (optional).
- Look for a valid sell setup using the Scalping Sell Signal.
- Confirm that the RSI is not oversold to avoid false signals (optional).
- Open a short position when the above requirements are met.
- Set a stop loss for your position a few pips above the entry candle or according to your money management strategy.
- Exit the trade once it turns into profit or based on your exit strategy, which may include support/resistance areas, reversal signals, quick exits, hard targets, or exit scope.
Pipfinite Razor Scalper Indicator Pros & Cons
Pros
- The Pipfinite Razor Scalper Indicator is a flexible tool that can be used in many ways to improve a trading system.
- It provides clear entry signals based on a confirmed approach for valid signals.
- The indicator is designed to work in any currency pair and timeframe.
Cons
- The Pipfinite Razor Scalper Indicator may not be suitable for traders who prefer longer-term trading strategies.
- As with any scalping strategy, there is a higher risk of false signals, which can result in losses if not managed properly.
- It is a paid indicator, which may not be accessible for some traders on a budget.
- The effectiveness of the indicator may vary depending on market conditions and other external factors.
Conclusion
In conclusion, the Pipfinite Razor Scalper Indicator is a powerful tool for traders who are looking to implement a scalping strategy. Its ability to filter signals from short-term trends and quick impulses, as well as its double confirmation approach, can help traders identify buy and sell setups. However, as with any trading tool, it is important for traders to exercise caution and implement proper risk management tactics to avoid losses.
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