The 3 Bars Rapid Forex Scalper MT4 indicator is an excellent choice if you like to enter and exit the market for quick small profits.
The 3 Bars scalper signals multiple quick trade opportunities every day on any currency pair.
The indicator uses a 3 bars trading pattern to identify buy and sell trades throughout the trading sessions.
Interpret the buy and sell trade logic goes as follows:
- A scalping buy trend occurs when the 3 Bars indicator draws a green signal line on the MT4 chart.
- A scalping sell trend occurs when the 3 Bars indicator draws a red signal line on the MT4 chart.
Naturally, you can combine this scalping indicator with your own trading strategy.
For scalping purposes, use on the M1, M5 and M15 charts.
Feel free to explore this scalper indicator’s different parameters and settings to create your personalized indicator setup.
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3 Bars Rapid Forex Scalper Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
This indicator works for any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With The 3 Bars Rapid Forex Scalper MT4 Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a new buy trade when the 3 Bars Rapid Forex Scalper indicator changes its line color from yellow to green.
Place a protective stop loss below short-term support, or use your own stop loss placement strategy.
Close the buy scalper trade for a reward/risk ratio of 1.5 or higher.
Alternatively, go for a fixed take profit target, for example, 12 pips on the 1-minute scalping chart.
Sell Trigger: Open a new sell trade when the 3 Bars Rapid Forex Scalper indicator changes its line color from yellow to red.
Place a protective stop loss above the previous short-term resistance, or use your own stop loss placement strategy.
Close the sell trade for a reward/risk ratio of 1.5 or higher.
Alternatively, go for a fixed take profit target, for example, 20 pips on the 5-minute intraday chart.
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Bars history, period CCI, period ATR, alert, email, fractals, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: scalping
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.