The Scalper Dream Metatrader 4 forex indicator is a free premium forex scalper indicator that can be loaded on MT4.
The indicator follows the trend and provides you with easy to read buy and sell histogram bars in a separate window below the main activity chart.
Green scalpers bars: trend is bullish and traders go long.
Red scalper bars: trend is bearish and traders go short.
The Scalper Dream indicator also provides you with some more interesting information:
Trend Power (strength of the current trend), time left for the current candle to close and the current time.
You can also change the indicator period settings directly from the input tab, for faster signals, change the value to a shorter period, for slower signals, change to a longer period.
The EUR/USD H1 chart below displays the Scalper Dream forex indicator in action.
Basic Trading Signals
Signals from the Scalper Dream forex MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy order when the histogram displays the first green bar.
Sell Signal: Open sell order when the histogram displays the first red bar.
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (period, stop loss, take profit, email alerts, corner) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the scalper-dream.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)