ADX Buy Sell Forex Scalper Indicator For Metatrader 4
The ADX Buy/Sell Forex Scalper indicator for MT4 delivers rapid scalping signals on the currency trading chart.
Scalping signals are based on the ADX technical indicator and goes as follows:
- A blue buy scalper arrow appears on the chart when DMI+ crosses above DMI- from below.
- A red sell scalper arrow appears on the chart when DMI- crosses above DMI+ from below.
Personally, I like to set the ADX period to 25 instead of the default 14 period. It improves trading performance dramatically.
You can change this value by editing the ADX crosses period input parameter.
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ADX Buy/Sell 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 ADX Buy/Sell 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 scalper trade when the ADX Buy/Sell Forex Scalper paints a blue arrow on the chart.
Place a stop loss below immediate support, or use your own stop loss strategy.
Exit the buy scalping trade for 10-20 pips profit.
Sell Trigger: Open a sell scalper trade when the ADX Buy/Sell Forex Scalper paints a red arrow on the chart.
Place a stop loss above immediate resistance, or use your own stop loss method.
Exit the sell scalping trade for 10-20 pips profit.
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ADX crosses 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: ADX
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.