Fast Forex Scalper Trend Indicator For Metatrader 4
The fast Forex scalper trend indicator for MT4 is an histogram buy/sell indicator that works great for scalping currency pairs on M1 and M5 charts.
Fast Forex scalper shows the most profitable short-term trend for any pair in an easy to read histogram in a sub-trade window.
The scalping indicator trend works as follows:
- A fast buy trend occurs when the histogram bars turn back above the zero level.
- A fast sell trend occurs when the histogram bars turn back below the zero level.
You can combine this scalping indicator with a longer-term trend Forex indicator or incorporate with an existing Forex system or trading strategy.
Feel free to experiment with its Fast Z period and slow Z period values.
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Fast Forex Scalper Trend 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 Fast Forex Scalper Trend Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a fast buy scalping trade with the indicator’s histogram bars turn back above 0 from below. The short-term trend is now upward.
Place a stop loss 1 pip below short-term support, or use your own stop loss placement method.
Take profit at fixed profit target, for example 15 pips on the 5-minute chart, or deploy your own take profit method.
Sell Trigger: Open a sell fast scalping trade with the indicator’s histogram bars turn back below 0 from above. The short-term trend is now downward.
Place a stop loss 1 pip above short-term resistance, or use your own stop loss placement method.
Take profit at fixed profit target, for example 10 pips on the 1-minute scalper chart, or deploy your own take profit method.
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Fast Z period, slow Z 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: scalping
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.