The trend scalper indicator for MT4 is a perfect forex indicator for spotting scalping and short term intraday trading opportunities on any time frame of your choice.
The full name of the indicator is Trend – scalp 1.01(mtf + arrows + alerts).ex4
This tool is composed of the popular T3 forex indicator. The trend scalper is located in a separate window just below your main trading chart of the Metatrader 4 platform. This indicator Trend scalper does its analysis of the market situation on the current time frame or any other time frame of your preferences.
The time frame selection can be accessed from the indicator’s settings tab and you can choose from M1 up to monthly.
Trend scalper buy and sell signals are easy to interpret nad work as follows:
- A blue dot represents a buy scalper signal.
- A red dot represents a sell scalper signal.
Despite the good results of trend scalper on its own as a standalone trading tool, you can still increase its performance by adding a moving average of longer period (like 100 EMA etc). The moving average will act as trend filter, you can play with the settings of moving average – try combining 200 Simple Moving Average, 100 Exponential Moving Average with the trend scalper indicator.
General trading rules to remember:
- Open buy scalp trade when the current trend is up only.
- Only sell scalp trade when the current trend is down only.
How to trade with the Trend Scalper Indicator
Below you can find trading rules for Trend – scalp 1.01(mtf + arrows + alerts) indicator.
Open a buy trade after the Trend Scalper indicator draws its first blue dot on the chart in the direction of the main trend and the bar has closed.
Place a stop loss recent short-term support level or last swing low point. Alternatively, use your own preferred SL strategy.
Open a sell trade after the Trend Scalper indicator draws its first red dot on the chart in the direction of the main trend and the bar has closed.
Place a stop loss recent short-term resistance level or last swing high point. Alternatively, use your own preferred SL strategy.
How to install the Trend Scalper Indicator on your Metatrader 4 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Trend Scalper Indicator files into following folder of your Metatrader 4 (MT4) platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on Trend – scalp 1.01(mtf + arrows + alerts).mq4 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.
In the archives you will find following Metatrader 4 files included:
- Trend – scalp 1.01(mtf + arrows + alerts).mq4
Trend Scalper Indicator Free Download
To download the Trend Scalper Indicator for Metatrader 4 (MT4) for free just click the button below: