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Stochastic Alerts Forex Scalper Indicator (MT4)

The Stochastic Alerts Forex Scalper indicator for Metatrader 4 prints buy/sell rectangles on the chart solely based on oversold & overbought Stochastic levels.

The indicator provides nearly perfect entries and exits in range-bound markets. In essence, the indicator spots trend reversals.

In trending markets, it’s advised to trade in the direction of the underlying trend.

After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.

Key Points

  • Good for scalping FX
  • Good for day trading FX
  • Does not repaint
  • Well worth adding to your indicator collection

This indicator can work together with any existing trading strategy or system.

Free Download 

Download the “bh-stoch-alerts-indicator.mq4” MT4 indicator

Indicator Example Chart

The USD/JPY 15-minute chart below shows the Stochastic Alerts Forex Scalper indicator in action.

Basic Trading Signals

BUY:

  • A buy signal is given when the purple colored Stochastic rectangle appears on the chart.
  • Place stop loss below short-term support.
  • Exit the buy trade for a predetermined profit target or wait for an opposite colored rectangle to appear.

SELL:

  • A sell signal is given when the brown colored Stochastic rectangle appears on the chart.
  • Place stop loss above short-term resistance.
  • Exit the sell trade for a predetermined profit target or wait for an opposite colored rectangle to appear..

Download This Forex Indicator

Download the “bh-stoch-alerts-indicator.mq4” MT4 indicator

Adjustable Parameters & Settings

Bars to check, slow, overbought, oversold, rectangle, alert bar, alerts message, alerts email, alerts mobile, colors, style

Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.

More Info About This Indicator

Currency Pairs: works on any currency pair

Trading Platform: developed for Metatrader 4 (MT4)

Time Frames: any

Indicator Type: stochastic

How to install the Stochastic Alerts Forex Scalper indicator in Metatrader 4?

  • Copy and paste the bh-stoch-alerts-indicator.mq4 indicator into the MQL4 indicators folder.
  • You can access this folder from the top menu as follows:
  • File > Open Data Folder > MQL4 > Indicators (paste here)

How to remove the indicator from the chart?

  • Right click in the chart
  • Select indicators list
  • Click on the indicator’s name
  • Click on the delete button