The Elite PRO Scalper indicator for MetaTrader 4 is a highly accurate buy-and-sell technical tool designed for scalping the Forex market on any time frame and currency pair.
This plug-and-play indicator simplifies trading by drawing clear blue buy and red sell signal arrows on the trading chart, making it user-friendly even for beginners.
The indicator performs optimally during the London and New York trading sessions.
Key Highlights
- Versatile Scalper Indicator: Ideal for smaller spread currency pairs.
- Flexible Time Frames: Works on any time frame of your choice.
- Currency Pairs: Works best on the higher volatile pairs + Gold
Test the indicator first on a demo account.
Free Download
Download the “ElitePRO Scalper.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 5-minute chart below demonstrates the Elite PRO Scalper indicator in action. Please note the easy-to-follow colored buy and sell signals plotted on the chart.
A buy arrow indicates a short-term uptrend, while a sell arrow signifies a short-term downtrend.
Basic Trading Signals
Signals from the Elite PRO Scalper indicator for Metatrader 4 are easy to interpret and work as follows:
BUY:
- Buy Signal: A blue arrow indicates a buy signal.
- Stop Loss: Place a small stop below the most recent swing low.
- Take Profit: Aim for a profit target of 5-15 pips, or reverse the trade when a red arrow appears.
SELL:
- Sell Signal: A red arrow indicates a sell signal.
- Stop Loss: Place a small stop above the most recent swing high.
- Take Profit: Aim for a profit target of 5-15 pips, or reverse the trade when a blue arrow appears.
Download This Forex Indicator
Download the “ElitePRO Scalper.ex4” MT4 indicator
Simple Scalping Strategy Using Elite PRO Scalper for Enhanced Results
Buy Setup
- Wait for a blue arrow or buy signal to appear below a candle.
- Confirm price is above the 50 EMA (optional trend filter).
- Enter a buy trade at the next candle open.
- Stop Loss: 5–10 pips below the signal candle or recent low.
- Take Profit: Fixed 10–15 pips, or exit on opposite signal.
Sell Setup
- Wait for a red arrow or sell signal to appear above a candle.
- Confirm price is below the 50 EMA (optional trend filter).
- Enter a sell trade at the next candle open.
- Stop Loss: 5–10 pips above the signal candle or recent high.
- Take Profit: Fixed 10–15 pips, or exit on opposite signal.
Adjustable Parameters & Settings
N bars, Alert ON, Push ON, Mail ON, and more.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Additional Information
- Currency Pairs: Serves any currency pair.
- Trading Platform: Developed for MetaTrader 4 (MT4).
- Time Frames: Functional on any time frame.
- Indicator Type: Provides clear trading signals.
How do you install the Elite PRO indicator in Metatrader 4?
- Copy and paste the ElitePRO Scalper.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu: File > Open Data Folder > MQL4 > Indicators (paste here).
Removing the indicator from the chart
- Right-click on the chart.
- Select “Indicators List.”
- Click on the indicator’s name.
- Click the “Delete” button.
Summary
The Elite PRO Scalper indicator is a powerful and intuitive tool for Forex traders aiming to profit from short-term movements in the currency market.
The indicator provides clear non-repaint buy and sell signals and streamlines the trading process, particularly during the London and New York trading sessions.
