The VVIP PROFITMAKER (King Of Pips) Version Swing System (2020) indicator is a closed code trend indicator. On what its rendering is based – we can only guess.
On the chart, the indicator will represent a set of red candles (bearish market sentiment), a set of blue candles (bullish market sentiment) and undefined areas with white candles. After a series of white candles, a blue candle appears and a blue up arrow – a buy signal). If a red candlestick and a pink downward arrow appear – a sell signal.
Trading platform: MetaTrader 4
Trading instruments: any currency pairs (preferably EURUSD)
Timeframes: М30 and Н1 (any trading session)
In the indicator settings, only alert displays are rendered – enable or disable, sound, pop-up window.
Buy entry – if a blue candlestick and a blue arrow appear;
Exit a purchase – if the candlestick color changes to white or red.
The second exit option (according to the author’s strategy) is a take profit of 40 pips (400 pips), a stop loss is manual closing when the candlestick color changes.
Terms of sale:
Sell entry – if a red candlestick and a pink arrow appear;
Exit from the sale – if the color of the candle has changed to white or red, or 40 pips take (400 pips)
After reviewing the VVIP PROFITMAKER indicator in history, as well as visualizing its work in the strategy tester, no redrawings were noticed. It is better to use the recommended timeframes for trading – М30 and Н1. On the basis of this indicator, it is quite possible to build your own trading system in order not to stay in the market for a long time (the option of intraday trading), or try to take the entire trend movement (in this case, you will need knowledge of levels to set take profit, or use additional tools to determine more optimal goals). Probably, it is possible to create a simple Expert Advisor based on this indicator, which will work only to change the color of the candlestick, or more progressively – use takes, refills, etc.
The VVIP PROFITMAKER (King Of Pips) Version Swing System (2020) Indicator can be downloaded for free and the template for its installation on the chart can be found in the attached archive.
Try it on real quotes in real time, share your impressions and your best practices with this indicator.