Best Scalping MT4 Indicator

Best Scalping MT4 Indicator Overview:

  How the Best Scalping Indicator Works?

This Scalping Forex indicator employs advanced technical analysis to detect market trend lines in the short term and suggest good entry points. It gives you buy and sell signals using blue and red arrows on any currency pair.

• The blue arrow denotes a buy signal,
• While the red arrow denotes a sell signal.

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• The indicator determines the Price Momentum and highlights short-term trends on the chart.
• It works best on Lower Time Frames such as 30-minute, 15-minute or 5-minute for scalping purposes.
• The trades typically range between 7 and 5 pips on average.
• It does not repaint, which means that it does not change its signals after they are generated.

  The Inputs of the Best Scalping MT4 Indicator:

The indicator has customizable input settings that allow you to adjust the sensitivity and accuracy of the indicator. To open the settings box, simply double click on any indicator arrow on the chart and select the “Inputs” tab.

The following table shows the input parameters of the scalping indicator:

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• MainFilterSpeed: This setting controls how quickly the main filter generates an arrow after a price change. The higher the value, the shorter the time it takes for the filter to generate an arrow. The lower the value, the longer the time it takes for the filter to generate an arrow. A higher value may result in more signals, but also more false signals. A lower value may result in fewer signals, but also fewer false signals.
  MainFilterSlow: This setting controls how long the main filter waits to confirm an arrow after a price change. The higher the value, the longer the confirmation time. The lower the value, the shorter the confirmation time. A higher value may result in more reliable signals, but also more lagging signals. A lower value may result in less reliable signals, but also more leading signals.
  SmallFilterSpeed: This setting controls how quickly the secondary filter modifies an arrow after a price change. The higher the value, the shorter the time it takes for the filter to modify an arrow. The lower the value, the longer the time it takes for the filter to modify an arrow. A higher value may result in more accurate signals, but also more delayed signals. A lower value may result in less accurate signals, but also more timely signals.
  SmallFilterSlow: This setting controls how long the secondary filter waits to confirm a modification after a price change. The higher the value, the longer the confirmation time. The lower the value, the shorter the confirmation time. A higher value may result in more accurate signals, but also more noisy signals. A lower value may result in less accurate signals, but also more smooth signals.

You can also change the color and size of the arrows to your liking under the “colors” tab as shown below:

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  Advantages of the Best Scalping Forex Indicator:

The Best Scalping Forex MT4 Indicator has the following advantages:

• It is simple and easy to understand and use for scalpers of any level of experience.
  It gives reliable and consistent signals that can help you enter or exit trades quickly and easily.
  It helps you identify and follow the dominant trend direction and trade in its direction.
  It helps you avoid trading in choppy or sideways markets that may result in losses or whipsaws.
  It helps you reduce emotional stress and increase confidence in your trading decisions.

  Disadvantages of the Best Scalping Forex Indicator:

The Best Scalping Forex Indicator has the following disadvantages:

• It may give false signals in low volatility or flat markets that may result in losses or drawdowns.
  It may lag behind the price action in fast-moving or volatile markets that may result in missed opportunities or late entries or exits.
  It may not work well with other indicators or trading systems that may contradict or conflict with its signals.
  It may require constant monitoring and attention from scalpers who have to act fast on its signals.

Recommendations for Best Scalping MT4 Indicator:

Scalping is a trading style that involves opening and closing trades in a short time frame, usually a few minutes or less. Scalpers aim to profit from small price movements in the market, using technical analysis and indicators to identify entry and exit points. Scalping requires a lot of concentration, discipline and fast decision making, as well as a reliable trading platform and tools. learn more about Forex scalping.

  Which Currency Pairs to trade?

You can use this indicator with any currency pair, but as any scalping indicator, it performs best with major currency pairs. learn more about the characteristics of currencies.

  What is the best Trading Session for this indicator?

It can be used for all sessions, but You should adapt your strategy and the indicator settings according to the chosen trading session.

  What Time-Frame Should You trade?

It works on any currency pair and time frame, but it is recommended to use it on lower time frames such as 30-minute, 15-minute or 5-minute for scalping purposes.

  Broker Requirements:

• The Best Scalping Indicator works basically with any Forex Broker that can offer a MetaTrader 4 platform, regardless of account type, if it uses micro or mini lots, 4 or 5 decimal quotations.
  You are free to use any MetaTrader 4 broker you wish, but keep in mind to find a broker that offers minimum spreads to ensure the best performance.
  Also, make sure the broker has a good reputation worldwide among its customers.
  ECN brokers are a good choice, because they have tight spreads and that is what we need to make true profits. ECN brokers operate directly on the Forex market for their clients and not against them as most of dealing desk brokers do.

  Use Best Scalping Indicator in Combination with Other Tools:

Do not hesitate to combine it with other technical analysis tools such as support and resistance levels, trend lines, chart patterns, candlestick patterns, etc. to confirm its signals and increase its accuracy and reliability.
Therefore, you should use the Best Scalping Forex Indicator with caution and discretion, and always test it on a demo account before using it on a live account.

  Use an Appropriate Risk Management Strategy:

The Forex Market is Risky! It is unlike anything else in the financial world because of its speed, volatility, and enormous size. You should follow a sound Risk Management strategy and use proper money management techniques to protect your capital and maximize your profits.

Best Scalping Indicator MT4 Installation:

One of the most popular trading platforms for scalpers is MetaTrader 4 (MT4), which offers a wide range of indicators and tools for technical analysis. However, not all indicators are suitable for scalping, as some may generate too many false signals, lag behind the price action or clutter the chart. Therefore, scalpers need to choose indicators that are simple, accurate and responsive to the market conditions.

  Step 1:

• Open your MT4 (MetaTrader 4) platform.
  Click on “File” then “Open Data Folder”. Here you will find a folder called “MQL4”, this is the home for all “.ex4” and “.mq4” files you have.
  Open the folder “MQL4”. Here you will find “Indicators” folder, where you should put the “Best-Scalping-Indicator.ex4” file downloaded from our site. Do this by right clicking on the file then clicking “copy” and “paste”.
• The folder called “templates” is the home for all your ".tpl" files, put “Best Scalping Indicator.tpl” file there.
  Restart your MT4.

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  Step 2:

• Open the MT4 (MetaTrader 4) platform, and click on: "View/Navigator". You can also press CTRL+N.
• When the window titled "Navigator" will appear click on "Indicators".
• You should found “Best-Scalping-Indicator” on the list.

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How To Setup Best Scalping MT4 Indicator?

When both files: “Best-Scalping-Indicator.ex4” and “Best Scalping Indicator.tpl” are properly installed, you can easily apply the indicator to your chart. you can do this using one of two ways:

  Attach the Indicator Directly to Your Chart:

You can do this by double-clicking on “Best-Scalping-Indicator” present on the list of indicators in the “Navigator” window or by dragging and dropping it on your chart.

  Apply “Best Scalping Indicator.tpl” to Your Chart:

• Click on the “Templates” button to display the list of templates present on your platform: you should see “Best Scalping Indicator” on this list.
• Select “Best Scalping Indicator” template on the dropdown list.
• If the template doesn't exist, confirm its presence inside the folder called “templates” under “Open Data Folder” and restart your MT4 terminal.

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How To Use Best Scalping MT4 Indicator?

To use the Best Scalping Forex Indicator effectively for scalping purposes, you need to follow these Rules:

  Buy Entry Rules:

  Open a Buy Order when all of the below conditions are met:

• Open a currency pair chart on your MT4 platform and select a lower time frame such as 30-minute, 15-minute or 5-minute for scalping purposes.
  Wait for the indicator to generate a Buy Signal with Blue Arrow on your chart.
  Open a Buy trade only after the formation of a Bullish Candlestick.
  The First Blue Arrow that appears after the close of the Bullish Candlestick will confirm the short-term uptrend and mark the Entry Point for a buy order.

  How to manage your buy orders?

• Place your stop-loss below the nearest support level or swing low (usually 15 to 20 pips from the entry point).
• Place your take-profit at a reasonable distance based on your risk-reward ratio (trades usually range between 5 and 7 pips on average).
• The first Red Arrow that appears will mark the end of the uptrend. All buy orders must be closed.

  BUY Trade Example:

In this example, I choose an uptrend to give basic protection to all my buy trades.

When all the Buy Entry conditions specified above have been detected, I opened a Buy Order: I used the last swing low as a benchmark to set the stop-loss. and the closest resistance as a target for my take-profit.

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As you notice, our Buy trade was winning and made a profit of 150 pips.

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Once the price reached the resistance level, the market conditions changed completely. therefore, it was better to exit at the resistance level than to wait for the appearance of the red arrow.

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  Sell Entry Rules:

  Open a Sell Order when all of the below conditions are met:

• Open a currency pair chart on your MT4 platform and select a lower time frame such as 30-minute, 15-minute or 5-minute for scalping purposes.
  Wait for the indicator to generate a Sell Signal with Red Arrow on your chart.
  Open a Sell trade only after the formation of a Bearish Candlestick.
  The First Red Arrow that appears after the close of the Bearish Candlestick will confirm the short-term downtrend and mark the Entry Point for a sell order.

   How to manage your sell orders?

• Place your stop-loss above the nearest resistance level or swing high (usually 15 to 20 pips from the entry point).
  Place your take-profit at a reasonable distance based on your risk-reward ratio (trades usually range between 5 and 7 pips on average)..
• The first Blue Arrow that appears will mark the end of the downtrend. All sell orders must be closed.

  SELL Trade Example:

In this example, I choose a downtrend to give basic protection to all my sell trades.

When all the Sell Entry conditions specified above have been detected, I opened a Sell Order: I used the last swing high as a benchmark to set the stop-loss. and the closest support as a target for my take-profit.

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As you notice, our Sell trade was winning and made a profit of 39 pips.

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Once the price reached the support level, the market conditions completely changed. it was therefore better to exit at the support level than to wait for the appearance of the blue arrow.

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Best Scalping MT4 Indicator Free Download:

Best Scalping Indicator for Metatrader 4| 8.02 Ko| 15/06/2023, 04:26