Trend Scalper Metatrader 4 Forex Indicator
The trend scalper indicator for MT4 works great for finding scalping and short-term day trading opportunities on any time frame of your preference.
It’s composed of the popular T3 forex indicator.
Trend scalper does its analysis on the current time frame or any other time frame of your choice.
The time frame option can be accessed from the indicator’s inputs tab (choose from M1 up to monthly).
Trend scalper buy and sell signals work as follows:
- A blue dot represents a buy scalper signal.
- A red dot represents a sell scalper signal.
In order to increase the indicator’s overall performance, it’s a good idea to use it together with a longer period simple moving average or exponential moving average.
Combine with the 200 SMA, 100 EMA,…
- Only buy scalp when the underlying trend is up.
- Only sell scalp when the underlying trend is down.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD M5 chart below displays the Trend Scalper Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Trend Scalper MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy scalp trade when the Trend Scalper indicator draws its first blue dot on the chart.
Place a stop loss below short-term support or use your own preferred SL method.
Sell Signal: Open a sell scalp trade when the Trend Scalper indicator draws its first red dot on the chart.
Place a stop loss above short-term resistance or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (time frame, trend trigger, upper level, lower level, T3 smoothing period, T3 hot, alerts)Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: scalper signals
Copy and paste the Trend – scalp(mtf + arrows + alerts).ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)