PipFinite Razor Scalper [Indicator Reviews]

PipFinite Razor Scalper Features

Scalping indicator using a confirmed approach for valid signals

Functions as an entry indicator. Works in any pair and timeframe.

• Signals filtered from short term trend and quick impulses.
• Uses a double confirmation approach
  • Scalping Direction – Short term trend direction indicated by background color
  • Scalping Signal – Price action breakout indicated by entry signal arrow
• Flexible tool, can be used in many ways to improve a trading system
• Entry Signals
  • Valid Buy Setup
    • Scalping Buy Signal
    • Background is Blue
    • Optional: Trend Laser is Blue for confirmed uptrend
    • Optional: RSI is NOT overbought to avoid false signals
  • Valid Sell Setup
    • Scalping Sell Signal
    • Background is Red
    • Optional: Trend Laser is Red for confirmed downtrend
    • Optional: RSI is NOT oversold to avoid false signals
• Exit Strategy
  • Exit will depend on traders discretion according to his/her strategy
    • Support/Resistance Areas
    • Reversal signals from price action patterns
  • Quick exits
    • Exit trades once it turns into profit
    • Time expiry ranging from 2-15 bars
    • Hard targets
      • 2-5 Pips on M5
      • 5-15 Pips on M15
      • 15-30 Pips on H1
      • 30-40 Pips on H4
  • We can use Exit Scope as alternate exit strategy
• Sessions
  • Scalping – M5/M15 on London or US Session
  • Swing – H1/H4, avoid first day of the week
• Supporting Tool
  • Ideally combined with price action trading
  • Confirm signals using Trend Laser
  • Confirm signals using Strength Meter
  • Avoid false signals by combining to Volume Critical
    • Avoid buy signals if Volume Critical is Overbought
    • Avoid sell signals if Volume Critical is Oversold
• Color schemes for light and dark charts
• Never repaints
• Never backpaints
• Never recalculates
• Signals strictly on the “Close of the bar”
• Compatible with Expert Advisor development

PipFinite Razor Scalper Sample strategy combining to other indicators

1. Wait for London or US Session
2. Trend Laser on H4 and M15 should have the same color for confirmed trend
3. Trend Laser M15 “Success Rate” at least 85%
4. Razor Scalper Valid Signal in the direction of Trend Laser
5. StopLoss Options
   • Recent Swing High/Swing Low
   • Trend Laser “Average Profit” to give extra buffer
   • Support/Resistance levels
   • Hard SL around 10-30 pips
6. TakeProfit Options
   • TP equal to SL
   • Trend Laser “Minimum Move” for quick exit
   • Support/Resistance levels
   • Exit Scope as alternate exit
   • Hard TP around 10-30 pips
7. Economic Events
   • Avoid signals 30 minutes before Major Impact News
8. Optional: Avoid False Signals
   • Ignore buy signals if RSI is above 70
   • Ignore sell signals if RSI is below 30