Introduction to the Scalper Dream Indicator
The Scalper Dream Indicator is a custom forex trading indicator that provides trend-following buy and sell histogram bars.
The indicator is displayed in a separate window placed just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How does it work? How to apply in trading?
Trading Rules Explanation
Buy Entry: Open long trade when histogram bar color changes to green. Place your stop loss a few pips below last swing low.
Sell Entry: Open short trade when histogram bar color changes to red. Place your stop loss a few pips above last swing high.
Exit Trade / Take Profit: Close your open position when the opposite signal appears, or use your own preferred method of trade exit.
As always, to achieve good results, remember about proper money management.
How to set up the Scalper Dream indicator in MT4?
Copy and paste the scalper-dream-indicator.mq4 or scalper-dream-indicator.ex4 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, that 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.
Click the link below:
The Scalper Dream indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.