The Japan Forex Scalper indicator for Metatrader 4 works well to scalp the 1-minute and 5-minute trading charts.
The indicator is newbie friendly and plots all trading signals on the main MT4 chart as colored dots.
The Japan indicator is always active in the FX market, either with a buy or sell signal.
Buy & sell signal:
- Open a buy trade when the green colored dot gets plotted on the chart.
- Open a sell trade when the red colored dot gets printed on the chart.
- Stop and reverse the open position when an opposite arrow appears on the chart.
From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading strategies.
Try first on a demo account until you fully understand how this indicator works!
Indicator Chart Example
The picture above shows the indicator attached to the U.S. Dollar / Japanese Yen chart.
How to install the Japan Forex Scalper indicator to your Metatrader 4 platform?
- Download the japan-indicator.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration