The 3 LWMA Forex scalper indicator works awesome to scalp the currency market multiple times a day for for 10-15 pips each.
The scalping indicator consists of 3 crossing signal lines and based on their position, it signals for a buy or sell scalping trade.
It’s recommended to deploy this scalper indicator on low spread currency pairs (EUR/USD, GBP/USD, USD/JPY, AUD/USD,…) to maximize profits from scalping the currency market during the most volatile trading sessions.
3 LWMA Forex scalper short-term trend logic:
- A short-term buy trend occurs when the red signal line crosses above the dark turquoise and dodger blue signal lines from below.
- A short-term sell trend occurs when the red signal line crosses below the dark turquoise and dodger blue signal lines from above.
Feel free to edit the different 3 LWMA indicator’s settings and parameters.
Use on M1, M5 and M15 charts for scalping purposes.
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3 LWMA Forex Scalper Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With The 3 LWMA Forex Scalper Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy scalping trade when the red 3 LWMA signal line crosses above the dark turquoise and dodger blue signal lines from below.
Place a protective stop loss just below short-term support, or use your own stop loss placement strategy.
Exit the buy trade for 10-15 pips each, or use your own trade exit method.
Sell Trigger: Open a sell scalping trade when the red 3 LWMA signal line crosses below the dark turquoise and dodger blue signal lines from above.
Place a protective stop loss just above short-term resistance, or use your own stop loss placement strategy.
Exit the sell trade for 10-15 pips each, or use your own trade exit method.
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Signal period, fast period, slow period, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- 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.