The Super Trend 2 Scalper MT4 forex indicator delivers awesome buy and sell signals for scalpers and intraday traders alike.
Super Trend 2 is based on the popular CCI technical indicator.
It’s recommended to deploy the indicator during the London and New York trading sessions.
For maximum performance, use it on low spread volatile currency pairs, for example on the GBP/USD.
Scalping signals are easily to recognize:
- A green Super Trend 2 line represents a signal to buy. The short-term trend is upward.
- A red Super Trend 2 line represents a signal to sell. The short-term trend is downward.
- A stop-loss should be placed above or below the most recent resistance or support level.
The EUR/USD 5-Minute chart below displays the Super Trend 2 Scalper Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Super Trend 2 Scalper MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Go long when a green signal line appears on the chart. The short-term trend is now bullish. Place a protective stop order below most recent support.
Sell Signal: Go short when a red signal line appears on the chart. The short-term trend is now bearish. Place a protective stop order above most recent resistance.
Trade Exit : Close the scalp buy trade when the signal line changes from green to red. Close the sell scalp trade when the signal line changes from red to green, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Low spread (EUR/USD, GBP/USD, USD, JPY,..)
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (trend CCI period, automatic timeframe setting) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes
Copy and paste the super-trend-2.mq4 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)