Buy/Sell Arrow Scalper by Karl Dittmann is based on a free Forex trading indicator called Half Trend.
Why pay $87 for Buy/Sell Arrow Scalper trading system?
You can get the free version here which produces exactly the same buy and sell trading arrows.
Here’s how to trade with this scalping indicator system:
Trading Rules
Buy signal:
It’s time to buy when a blue arrow appears on the chart.
Close long when a red arrow appears or close the trade at you preferred profit target (10 pips, 20 pips,…).
Sell signal:
It’s time to sell when a red arrow appears on the chart.
Close short when a blue arrow appears or close the trade at you preferred profit target (8 pips, 23 pips,…).
Download
Download buysellarrowscalper.ex4 here
System in action on the GBP/USD 1 minute chart
Some guidelines for better trading performance
Do not trade on holidays. Trend less markets! Not good to scalp.
Trade in the direction of the global market direction. Verify the trend first on a higher time frame.
Do not open trades before key economic new releases. Always wait for the market to digest the news.
Indicator Preferences
Currency pairs: choose low spread pairs (EUR/USD, GBP/USD, USD/JPY)
Time frames: 1 minute, 5 minute
Trading sessions: London and New York (most active sessions)
Configurable Indicator Options
Show bars, show arrows, email alert, sound alert, message alert
How to install the Buy/Sell Arrow Scalper custom indicator in Metatrader 4?
- Download the buysellarrowscalper.ex4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.