TFX Trend Bars Scalper is a free beginner friendly mt4 (Metatrader 4) indicator that provides precise scalper signals for any time frame of your preference.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The signals appear on the main MT4 chart window as blue and magenta colored candlesticks.
Buy & sell signal:
- Open a buy position when the blue candlesticks appear on the chart.
- Open a sell position when the magenta candlesticks appear on the chart.
- Close and reverse the open position when an opposite signal occurs on the chart.
The TFX Trend Bars Scalper indicator can be used for both trade entry and exit or as an additional short-term trend filter.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Indicator Example Chart (EUR/JPY M5)
The example chart below displays the TFX Trend Bars Scalper mt4 indicator in action on the trading chart.
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with this scalper indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend
Does the indicator repaint? No.
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.