The Direction Forex Scalper indicator for MT4 uses a secret formula to generate accurate buy and sell signals on the trading chart.
Anyone can trade with this scalper due to its simplicity.
Signals can be applied to any currency pair and time frame without exception (major, cross pairs and exotic pairs).
The Direction Forex scalper also prints the suggested stop loss line on the chart (dotted blue and red line).
Tip: When applying the Direction scalper to the M1 and M5 charts, best results occur during the London and US trading sessions.
- A green arrow represents a buy trade.
- A red arrow represents a sell trade.
- Works for any Forex pair and time frame.
Feel free to explore the Buy/Sell Direction Forex Scalper indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (AUD/CAD M5 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Buy/Sell Direction Forex Scalper MT4 Indicator
Buy Signal: Go long whenever the indicator draws a green buy arrow on the chart.
Place stop loss 3 pips below the blue dotted line, or use your own favorite SL method.
Exit the buy trade when the indicator prints a red sell arrow on the chart (stop and reverse the trade), or use your own favorite take profit method.
Alternatively, use a fixed profit target to close the buy trade.
Sell Signal: Go short whenever the indicator draws a red sell arrow on the chart.
Place stop loss 3 pips above the red dotted line, or use your own favorite SL method.
Exit the sell trade when the indicator prints a green buy arrow on the chart (stop and reverse the trade), or use your own favorite take profit method.
Alternatively, use a fixed profit target to close the sell trade.
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Signal period, arrow period, SL pips, alert on, email, colors, width, style.
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 signals
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.