Indicator Review: PipSpring

PipSpring is an older Forex indicator, or “trade alert software” that promises to provide profitable and unique trading solutions for all traders. The developers are aware that every single trader has their own unique set of needs the need to be catered to. They believe that they’ve created a system that can meet the needs of every trader, whether they are full-time, or just part-time traders looking to grow their accounts with a few pips a day.

The creator of the software is Jeff Glenellis. He has a twitter account that was active in 2015, and a website jjglenellis.com that is no longer available. His YouTube account is still active though, and currently has 521 subscribers. The website doesn’t seem to have any way to contact support, which is not a good sign.

The product in general seems to be an older system published in 2014. Yet, one of the Forex Robot Nation readers wanted me to take a look at it, so that’s what I’m doing.

PipSpring Review

The PipSpring indicator is advertised as “the ultimate renko software,” or “the holy grail of trading gold and renko charts.” The website consists of a couple videos that show how to properly load the software onto the MT4 platform, some testimonials and brief strategic analysis.

Jeff claims that Renko is the new way to trade the markets professionally. He doesn’t explain why.

The vendor also tells us that the software is so different from other indicators on the market because it’s programmed in a way that stops brokers from predicting your take profit and stoploss areas. Again, we have another vendor that seems to think that Forex brokers are out to get them. I just don’t share this paranoia when it comes to Forex brokers, and it really just seems like an excuse some traders lean on like a crutch when they lose trades. The Reaper Forex Robot had the same sort of mistrust of brokers, and it almost comes across like something vendors say, when they want to prove the legitimacy of their product.

There is no real strategic analysis, which is similar to the last Forex indicator review we did of the Pipfinite Trend Pro.

Breakdown

• Type: Forex Indicator
• Price: $97
• Strategy: Renko
• Timeframe: H1
• Pairs: Gold, Oil, Major Currencies

According to the sales page, traders get 4 systems in one, 2 trading manuals and 2 respective trading robots valued at $1797, for just $97. In this package traders get access to the PipSpring Standard Manual, PipSpring Renko Manual, PipSpring Standard Robot and PipSpring Renko Robot. The purpose of the robots, is to automatically place trades on your behalf using the exact same strategy that the indicator provides.

Trading Results

The vendor provides no trading results for their PipSpring software.

Considering the developer has access to his strategy in an automated form, there is no excuse why he can’t provide us with performance reports. I’m not really surprised though, due to the age of this sales page, and the fact that products rarely provided results in 2014.

Conclusion

This is one of my shorter reviews, because there really isn’t much to say. The PipSpring software has very little to offer the community in 2018, and I don’t feel that this is a viable trading product. If the vendor provided some sort of a free trial, it would be worth checking out, but with no support, and $97 price tag and no results, I just don’t see the point.

If you have anything you would like to add to this review, please leave your questions and remarks below the article now.