Pips and Nips is an oscillator that is designed to indicate either trend, or short term buy or sell entry signals.

When a big period (20-100) is used, the indicator will display if the market is in uptrend or downtrend (Green bars - uptrend, red bars - downtrend).

But the primary use of this indicator is to provide buy and sell signals. For this it is required to use a small period (4-15). When the zero line is crossed downwards - sell, when it is crossed upwards - buy. These signals are immensely strong if used correctly in a specific trend.