The AMKA Forex scalper indicator for MT5 works really well for scalping any currency pair for daily profit.
Some traders use it exclusively for scalping the M1 and M5 trading charts.
The indicator is composed of a single signal line with green and red dots plotted on it.
Scalping and day trading with the AMKA scalper is really easy:
- A short-term buy trend occurs when the AMKA scalper indicator draws green dots on the chart.
- A short-term sell trend occurs when the AMKA scalper indicator draws red dots on the chart.
Experiment with the AMKA scalper indicator’s different input parameters.
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AMKA Forex Scalper Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 5 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With AMKA 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 AMKA MT5 indicator draws its first green dot on the chart.
Place stop loss below immediate support, or use your own stop loss placement method.
Exit the buy trade for a fixed profit target, for instance 12 pips on the 1-min scalper chart.
Alternatively, let the trade run until the first red dot appears on the chart. Close and reverse the buy trade!
Sell Trigger: Open a sell scalper trade when the AMKA MT5 indicator draws its first red dot on the chart.
Place stop loss above immediate resistance, or use your own stop loss placement method.
Exit the sell trade for a fixed profit target, for instance 22 pips on the 5-min scalper/day trading chart.
Alternatively, let the trade run until the first green dot appears on the chart. Close and reverse the sell trade!
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Period of AMA, period of fast MA, period of slow MA, filter, 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: MT5
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: scalping
Copy and paste the indicator in the MT5 indicators data folder.
Then restart the MT5 terminal and attach it to any chart.