Here’s a simple to use free Forex scalping trading indicator for Metatrader 4.
The indicator consists of a zero line, above the zero line, the short-term trend is bullish, on the contrary, below the zero line bearish.
I recommend to use this indicator during the most volatile trading sessions and on low spread currency pairs such as the EUR/USD and USD/JPY.
Trading Signals
Buy signal: Wait for indicator to turn back above the zero line from below (green color).
Sell signal: Wait for indicator to turn back below the zero line from above (red color).
Indicator Preferences
Currency pairs: low spread pairs
Time frames: M1, M5, M15
Trading sessions: London and US (avoid using the indicator on holidays)
Download
Download the freeforexscalpingindicator.ex4 indicator.
Configurable Indicator Options
Colors
EUR/USD M15 Chart Example
How to install the Free Forex Scalping custom indicator in Metatrader 4?
- Download the freeforexscalpingindicator.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.