The Winners Rise Forex Scalper indicator for Metatrader 4 is a trend histogram that provides excellent signals for scalpers and intraday traders.
The indicator gets displayed in a bottom window in the form of a colored histogram that oscillates above and below the zero level.
Tip: For better signals, please change the default indicator period (15) to 50!
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Works well for scalping
- Works well for intraday trading
- Does not repaint the histogram bars
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a shorter-term trend confirmation tool.
Indicator Example Chart
The EUR/USD 1-minute chart below shows the Winners Rise Forex Scalper indicator in action.
Basic Trading Signals
- A buy signal is given when the histogram bars turn back above the zero level (green color).
- Set stop loss below short-term support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
- A sell signal is given when the histogram bars turn back below the zero level (red color).
- Set stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Adjustable Parameters & Settings
Period, 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: Forex signals
How to install the Winners Rise Forex Scalper indicator in Metatrader 4?
- Copy and paste the Winner-Rise.ex4 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