The Munyuk Forex scalper indicator for MT4 could be an excellent choice if you are looking to scalp the forex market for 10-15 pips/trade.
It’s very easy to use this scalper indicator:
- A green bar represents a buy scalper signal.
- A red bar represents a sell scalper signal.
It’s recommended to open buy and sell trades immediately after the Munyuk indicator changes its green and red colored bars.
For a fast buy signal: bars change color from red to green.
The trend is now short-term bullish.
For a fast sell signal: bars change color from green to red.
The trend is now short-term bearish.
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Munyuk Scalper Indicator Chart
Here’s an example of how the Munyuk Forex scalper 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.
For scalping, use the indicator on the M5, M15 and M30 price charts.
Finding Buy and Sell Triggers With Munyuk Forex Scalper Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a scalp buy trade when the Munyuk scalper indicator bars change color from red to green.
A stop loss can be placed slightly below the previous swing low support, or use your own stop loss strategy.
Exit the buy trade when an opposite sell scalper signal appears on the trading chart, or you can exit the buy trade for a fixed profit target of 10-15 pips or more.
Sell Trigger: Initiate a scalp sell trade when the Munyuk scalper indicator bars change color from green to red.
A stop loss can be placed slightly above the previous swing high resistance, or use your own stop loss strategy.
Exit the sell trade when an opposite buy scalper signal appears on the trading chart, or you can exit the sell trade for a fixed profit target of 10-15 pips or more.
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Sound alert, bar, 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: trend following
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.