PO OSAA PipTrapDoor

PipTrapDoor is an indicator that helps to decide the direction of the trend and a safe price that confirm the trend and also as entry price, with a suggested TakeProfit price.

PipTrapDoor can be used with any pair, and with any timeframe. It does not repaint.

PipTrapDoor can be used for scalping and day trading. It’s a trend following and a breakout indicator.

PipTrapDoor also help to Look ahead of the chart.

Entry rules

1. To know if you are to set buystop order, check the last buystop line to see if it has been broken succesfully and the take profit line has been hit.
2. To know if you are to set sellstop order, check the last sellstop line to see if it has been broken succesfully and the take profit line has been hit.
3. To know if you are to set buylimit order, check the last buylimit line to see if it was hit and succesfully turn back and hit the sellstop line.
4. To know if you are to set selllimit order, check the last selllimit line to see if it was hit and succesfully turn back and hit the buystop line.

How I use it personally

1. I set stop order and wait for the price to come for me. That is why I call it a trap.
2. I don’t have a pip target. once it is at profit, I close the order and look for trade on another pair. That is why I call it a door. Close a door to open another one.
3. There will always be a trade setup. Just change the timeframe “Period()”.
4. I do use this strategy in small timeframe but i dont like it.Why? the risk is high.
5. I don't set Stoploss but i have Emergency StopLoss and i don't wait for emergency Stoploss if there is a new setup.

More

• It can be used with standard indicator provided by your broker like MA, RSI, Stoch ,CCI, MACD, etc, but it is designed to be used alone.
• TakeProfit Price will always be hit.

Limitation

1. You need to manage your money {example: Divide your fund by 1000 pips and with 100 pips as emergency stoploss, you have 10 opportunity to maintain your trading.}
2. TakeProfit Price will not be hit only if the trend is reversing.

Indicator parameters

• 0 - means my default settings. “PO OSAA”
• History = 0; 0 = all bars
• Ma_Crossover - select false to switch to the second Ma version
• Trailing_TakeProfit - select true to use Dynamic Trailing_TakeProfit
• Show_Ma_Crossover - select false to hide Ma_Crossover
• Fast_PTD - the higher the number, the stronger the signal
• High Fast_PTD - BuyStop and SellLimit level modification
• Low Fast_PTD - SellStop and BuyLimit level modification
• Slow_PTD - modify all the two Ma versions {select Ma_Crossover = false}
• iSlow_PTD - modify one Ma version {select Ma_Crossover = true}
• TakeProfit - the lower this value, the higher the Takeprofit
• Breakout Space - no of Pip to call/stage a breakout
• Popalert = true;
• Show BuyStop,SellLimit & Sell StopLoss - select false to hide it
• Show SellStop,BuyLimit & Buy StopLoss - select false to hide it
• Buy TakeProfit & Sell StopLoss - select false to hide it
• Sell TakeProfit & Buy StopLoss - select false to hide it
• Show Stop & TakeProfit Label - select false to hide it
• Show Limit Label - select false to hide it
• APPLIED PRICE - this can be any of the following {PRICE_OPEN ,PRICE_WEIGHTED ,PRICE_TYPICAL ,PRICE_MEDIAN ,PRICE_LOW ,PRICE_HIGH ,PRICE_CLOSE}
• MA METHOD - this can be any of the following {MODE_SMA ,MODE_SMMA , MODE_EMA ,MODE_LWMA}
• Label_Font_Size - font size of the text on chart
• Label_Font_Type - font type
• BarShift - select 1 to avoid dancing label

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