The Super Scalper Metatrader 4 forex indicator is designed for active forex scalpers.
Use this indicator on the 5-minute chart during the London and New York trading sessions.
You should target 7-15 pips on each scalp trade.
For best results, use the indicator on low spread forex pairs and use together with a trend following indicator such as the 50 SMA or 50 EMA.
Take trades in the direction of the overall trend as indicated by the 50 SMA or 50 EMA.
Price action above the 50 SMA or 50 EMA (bullish)? Trade the blue Super Scalper line.
Price action below the 50 SMA or 50 EMA (bearish)? Trade the yellow Super Scalper signal line.
The default Super Scalper indicator settings can be modified directly from the indicator’s inputs tab.
The AUD/USD 5 chart below displays the Super Scalper forex indicator in action.
Basic Trading Signals
Signals from the Super Scalper forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when a blue line appears on the trading chart. Target 7-15 pips.
Sell Signal: Open sell trade position when a yellow line appears on the trading chart. Target 7-15 pips.
MT4 Indicator Characteristics
Currency pairs: Any low spread forex pair
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (ATR period, MA fast period, MA slow period) Colors, width & Style.
Time frames: 5-Minutes
Copy and paste the super-scalper-indicator.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)