The Ehlers Fisher Transform Scalper indicator for Metatrader 5 is a non-repainting tool designed for both scalpers and short-term intraday traders.
This is for traders looking for 7-20 pips profit potential per trade.
The simple trade logic goes as follows:
- A green line represents a buy trade.
- A red line represents a sell trade.
The following indicator inputs and parameters can be modified: period, price, and style.
Tip: Most profits can be generated during the London and American trading sessions when trading the lower spread currency pairs.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
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Ehlers fisher transform.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Ehlers Fisher Transform Forex Scalper indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Ehlers Fisher Transform Scalper Indicator?
Find a simple trading example below:
Buy Signal
- A buy scalper signal is given when the green Ehlers Fisher Transform line appears on the chart.
- Execute a buy trade and set your stop loss slightly below short-term support.
- Close the buy trade for 7-20 pips profit.
Sell Signal
- A sell scalper signal is given when the red Ehlers Fisher Transform line appears on the chart.
- Execute a sell trade and set your stop loss slightly above short-term resistance.
- Close the sell trade for 7-20 pips profit.
