WPR Scalper Metatrader 4 Forex Indicator

The WPR Scalper indicator for Metatrader 4 is an excellent choice for scalping and day trading currency pairs.

WPR Scalper provides short-term trend following buy and sell arrow signals.

  • A short-term buy signal occurs when a blue arrow appears on the chart.
  • A short-term sell signal occurs when a red arrow appears on the chart.

Moreover, WPR has a built-in trail function.

  • For buy signals, trail your stop up 1-2 pips below the orange stop sign symbol.
  • For sell signals, trail your stop down 1-2 pips above the magenta stop sign symbol.

For better performance, deploy the forex indicator on the M15 charts and higher.

Use on low spread forex pairs (EUR/USD, USD/JPY, GBP/JPY,..).

Free Download

Download the hlcrosssig-for-wpr.mq4” MT4 indicator

Example Chart

The EUR/USD 1-hour chart below displays the WPR Scalper Metatrader 4 indicator in action.

Basic Trading Signals

Signals from the WPR Scalper MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Initiate a short-term buy trade when a blue arrow appears on the chart. Place a stop-loss below short-term support and trail it up just below the orange stop sign symbol.

Sell Signal: Initiate a short-term sell trade when a red arrow appears on the chart. Place a stop-loss above short-term resistance and trail it down just above the magenta stop sign symbol.

Trade Exit : Use your own method of trade exit.

Download

Download the hlcrosssig-for-wpr.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (P, PMA, Risk, period WPR) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: trend

Installation

Copy and paste the hlcrosssig-for-wpr.mq4 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)

Share Now!