Awesome Trend Reversal Scalper Forex MT4 Indicator
The Awesome Trend Reversal Scalper indicator is a very popular trading indicator that works for both beginners and seasoned currency traders alike.
It uses a default ATR period of 3 but feel free to play with this setting.
The Trend Reversal Scalper provides great buy and sell trend reversal signals on any pair and time frame.
The vast majority of traders like to scalp and day trade with it during the London and US trading sessions.
- A blue line drawn below the candlesticks indicates a buy trend.
- A red line drawn above the candlesticks indicates a sell trend.
- The Reversal Trend Scalper is always in a trade and reverses his position from buy to sell or sell to buy.
- The indicator has a good winning rate.
Feel free to explore the Awesome Trend Reversal Scalper Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Awesome Trend Reversal Scalper Forex Indicator Chart
Here’s an example (EUR/USD M15 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The Awesome Trend Reversal Forex Scalper Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy reversal trade when the scalper indicator changes its colored signal line from red to blue. The trend is now upward.
Place your initial stop loss 3 pips below the blue line, or use your own favorite SL method.
Close the buy trade when the indicator changes the trend back to bearish (red line).
Sell Trigger: Open a sell reversal trade when the scalper indicator changes its colored signal line from blue to red. The trend is now downward.
Place your initial stop loss 3 pips above the red line, or use your own favorite SL method.
Close the sell trade when the indicator changes the trend back to bullish (blue line).
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Back period, ATR period, factor, typical price, color, width, style.
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- 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: trend reversal
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.