Bullpips is a trading system for MT4, which in my opinion, sides more towards discretionary trading rather than being a mechanical trading system. This is made clear in the 14 page document outlining the trading method. Bullpips says: “you will need to work a few things for yourself which we have no control over. These include exact stop loss and profit levels…” Where the system is mechanical is in its entry method. The system is based on the commodity channel index (CCI) and comprised of two mt4 indicators based on the CCI along with moving averages. Entry is determined by these various indicators all pointing in the same direction at the same time. This makes for a fairly clear entry method. However, it is not a method that you would necessarily have to take every trade signal although Bullpips claims it “handles ranging markets well”. The system is said to work on most forex pairs and is based on the 15 minute time frame.
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