Scalper X2 Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Scalper x2 Indicator

The Scalper x2 Indicator provides a simple buy/sell arrows as trading signals. As the name suggests, the indicator comes in handy for scalpers, therefore it plots a lot of signals. It can be used as a standalone tool, but suggest adding some kind of filter.

The Scalper x2 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.

Example trade with the Scalper x2 Indicator

Below is the screenshot of an example trade with the Scalper x2 Indicator.

We added 100-period Exponential Moving Average to define the overall market trend. In the case above, the trend is downward, so we take a trade at sell arrow below the Moving Average.

How to set up the Scalper x2 indicator in MetaTrader (MT4)?

Installation Guide

Download the Scalper x2.rar archive at the bottom of this post, unpack it, then copy and paste the Scalper x2.ex4 or Scalper x2.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.

Bottom Line

The Scalper x2 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. Don’t forget that we still have more great free forex MT4 indicators to download and try.