Introduction to the Trend Scalp MTF Alert Indicator
The Trend Scalp MTF Alert Indicator is a great tool for finding short-term day trading opportunities. It means you can use it successfully for scalping low time frame charts.
That forex indicator is displayed in a separate window placed just below the main trading chart. Trading signals are really simple: red dots represent buy signal and blue dots represent sell signal.
In order to increase the indicator’s general performance, we suggest using it in conjunction with a longer period moving average as a trend filter. Only follow trend direction, i.e. long trades above MA, and short trades below MA.
Combine with the 200 SMA, 100 EMA, etc.
Example of EUR/USD H1 Chart
This screenshot below shows an example of Trend Scalp MTF Alert in action. In conjunction with a 200 period exponential moving average.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology.
How to set up the Trend Scalp MTF Alert indicator in MT4?
Download the Trend Scalp MTF Alert.rar archive at the bottom of this post, unpack it, then copy and paste the Trend Scalp MTF Alert.ex4 or Trend Scalp MTF Alert.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 Trend Scalp MTF Alert 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 Forex MT4 Trend Scalp MTF Alert Indicator
To download the Trend Scalp MTF Alert Indicator for Metatrader 4 (MT4) for free just click the button below: