The Fisher Scalper Forex MT4 custom indicator was developed to scalp the currency market multiple times a day for small profits.
We’re typically looking for 5-15 pips per trade on the M1 and M5 charts.
Naturally, feel free to apply the indicator to the H1 charts and aim for 30-40 pips per trade.
The indicator appears in a separate MT4 window underneath the main activity chart.
In order to yield the best results, use the Fisher indicator on the lower spread currency pairs.
Just load the Fisher Scalper indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A green colored histogram represents a short-term uptrending market.
- A red colored histogram represents a short-term downtrending market.
- Good to scalp the low spread Forex pairs.
- Close the trade for 5-15 pips profit per trade.
Feel free to explore the Fisher Scalper Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD 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 Fisher Scalper Forex MT4 Indicator
Buy Signal: Execute a buy trade when the Fisher Scalper histogram turns back to green color above the zero level.
Set your stop loss slightly below immediate support, or use your own favorite stop loss method.
Close the buy trade for 5-15 pips profit per trade, or use your own favorite take profit method.
Sell Signal: Execute a sell trade when the Fisher Scalper histogram turns back to red color below the zero level.
Set your stop loss slightly above immediate resistance, or use your own favorite stop loss method.
Close the sell trade for 5-15 pips profit per trade, or use your own favorite take profit method.
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Period, HMA, 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: scalping
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.