Introduction to the Forex Scalping Indicator
The Forex Scalping Indicator is, as the name suggests, a scalping tool to generate quick profits from the forex market. As trading signals, the Forex Scalping indicator displays blue and red vertical rectangles. The occurrence of a blue rectangle indicates a sell signal. Similarly, the occurrence of a red rectangle indicates a buy signal.
The Forex Scalping Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Forex Scalping indicator in MT4?
Download the Forex Scalping.rar archive at the bottom of this post, unpack it, then copy and paste the Forex Scalping.ex4 or Forex Scalping.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Forex Scalping indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Download Free MT4 Forex Scalping Indicator
To download the Forex Scalping Indicator for Metatrader 4 (MT4) for free just click the button below: