The Bollinger Histogram Forex scalper MT4 indicator provides excellent trading signals for scalping and day trading the currency market.
The indicator shows up as an histogram styled trading indicator that appears in a sub-MT4 trade window.
Moreover, it uses colored buy/sell dots that appear above and below the histogram bars.
- The Aqua colored Bollinger Band dots represent a rising currency market.
- The Magenta colored Bollinger Band dots represent a falling currency market.
- Easy to trade, even for beginners.
- Deploy for scalping and day trading pairs.
Read below how to open buy and sell trades with the Bollinger Histogram Forex scalper Metatrader 4 indicator.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
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Bollinger Histogram Forex Scalper Indicator Chart
Here’s an example (GBP/USD H1 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 Bollinger Histogram Forex Scalper Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a buy trade order when the scalper indicator draws its first Aqua dot on the chart.
Place your initial stop loss 2 pips below short-term support, or use your own favorite SL method.
Close the buy trade when a Magenta sell dot appears on the chart (bearish trend reversal signal).
Alternatively, close the buy trade for a fixed profit target, for example +12 pips on the M1 scalping chart.
Sell Trigger: Initiate a sell trade order when the scalper indicator draws its first Magenta dot on the chart.
Place your initial stop loss 2 pips above short-term resistance, or use your own favorite SL method.
Close the sell trade when an Aqua buy dot appears on the chart (bullish trend reversal signal).
Alternatively, close the sell trade for a fixed profit target, for example +20 pips on the M5 intraday chart.
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Bollinger period, 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, RSI,…)
- 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: Bollinger Bands
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.