The Xard Bands Scalper Forex system for MT4 transforms price data into a powerful scalper that consists of two colored buy/sell bands.
It can be classified as a typical stop and reversal Forex system that follows the prevailing trend.
The two scalper bands appear in the main chart window.
The signals from this trading system are very easy to follow (with alerts), even for absolute beginners.
Strategy Setup & Recommendations
Indicators (MT4) : xardg-tma-cg.mq4 (default settings)
Currency pairs: works on any currency pair + Gold
Time frames: works on any time frame (preferred M5 and M15)
Trade style: works for scalping and day trading
Trading Platform: Metatrader 4
Chart Example (GBP/USD M5)
After you downloaded and installed the Xard Bands Forex scalper system on the MT4 trading platform, it should look like the image as shown below.
System Buy & Sell Rules:
- A buy signal is given as soon as the blue colored bands appear on the chart.
- Place stop loss just below the lower blue channel band.
- Exit the buy trade at a predetermined profit target or simply wait for an opposite sell trading signal.
- A sell signal is given as soon as the pink colored bands appear on the chart.
- Place stop loss just above the upper pink channel band.
- Exit the sell trade at a predetermined profit target or simply wait for an opposite sell trading signal.
How to install this Forex system in Metatrader 4?
Then, install the technical indicators as follows:
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the downloaded indicators in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicators to the chart.
Now you are ready to start using this trading system!
About the xardg-tma-cg.mq4 indicator (MT4)
This technical indicator draws accurate buy & sell channel bands on the trading chart with alerts.
Input variables: Time frame, half length, deviations, line width, interpolate, show TMA, signal bar, alerts, alerts mobile
Feel free to combine this trading system with other technical indicators or with price action.
Explore and experiment with the indicator’s different inputs and settings to create your own personalized strategy setup.