The Alaskan Pip Assassin Mod Indicator is a popular MetaTrader 4 trend trading indicator used by many traders in their Forex trading strategies.
It provides buy and sell signals based on the crossover of two colored lines.
Alaskan Pip Assassin Mod Indicator Overview
This indicator is easy to use and can be used in any timeframe, especially in trending markets.
However, it’s recommended to use it with additional market analysis to filter signals and minimize false signals. It is a useful tool for novice traders who are just starting out in Forex trading.
Alaskan Pip Assassin Mod Indicator Chart Explanation
The Alaskan Pip Assassin Mod Indicator displays two colored lines, a blue and a red, on a Forex trading chart to generate buy and sell signals.
A blue line crossing above the red line indicates a bullish trend and a buy signal, with a stop loss set below the nearest swing low and taking profit at the most immediate resistance zone. A blue line crossing below the red line indicates a bearish trend and a sell signal, with a stop loss set above the nearest swing high and taking profit at the most immediate support zone.
Confirming signals with additional market analysis is crucial to avoid false signals and improve overall trading performance.
Alaskan Pip Assassin Mod Indicator: Buy Condition
- The blue line crosses above the red line
- Open a buy position immediately after the blue line crosses above the red line
- Set stop loss below the nearest swing low
- Set take profit at the most immediate resistance zone
- Consider the trade only if the risk-to-reward ratio is 1:2 or better
Also Read: Exness Review – Is it The Best Forex Broker?
Alaskan Pip Assassin Mod Indicator: Sell Condition
- The blue line crosses below the red line
- Open a sell position immediately after the blue line crosses below the red line
- Set stop loss above the nearest swing high
- Set take profit at the most immediate support zone
- Consider the trade only if the risk-to-reward ratio is 1:2 or better
