About the Forex Profit Supreme indicator
The Forex Profit Supreme indicator for MT4 is a currency strength meter designed to highlight the strongest and weakest currencies at any given moment.
By analyzing eight major currencies—USD, EUR, GBP, JPY, AUD, CAD, NZD, and CHF—the indicator ranks them from strongest to weakest and identifies the most promising currency pairs for trading.
The indicator displays a list of top trading opportunities based on the relative strength of each currency.
Pairs showing a strong uptrend are highlighted in blue for buy opportunities, while strongly downtrending pairs appear in red for sell opportunities.
Extreme values above 90 or below -90 indicate highly favorable conditions for entering trades.
Traders can combine it with technical analysis or price action methods for additional precision.
Free Download
Download the “ForexProfitSupreme Meter.mq4” MT4 indicator
Key features
- Displays the strength of 8 major currencies simultaneously.
- Ranks currency pairs from strongest to weakest.
- Highlights the top buy and sell trade opportunities.
- Alerts traders to extreme strength values above 90 or below -90.
Indicator chart
The image below shows the Forex Profit Supreme indicator displayed in a separate window below the main price chart.
Blue and red listings highlight the strongest up-trending and down-trending currency pairs.
Guide to trade with the Forex Profit Supreme indicator
Buy rules
- Identify currency pairs with values above 90 in blue.
- Confirm the pair is trending upward in the short-term chart.
- Enter a buy trade at the next candle open.
- Use a protective stop-loss according to recent swing lows.
Sell rules
- Identify currency pairs with values below -90 in red.
- Confirm the pair is trending downward in the short-term chart.
- Enter a sell trade at the next candle open.
- Use a protective stop-loss according to recent swing highs.
Stop loss
- Place the stop loss a few pips beyond the most recent swing high/low.
- Keep the stop proportional to the volatility of the pair.
- Adjust stops dynamically if trading multiple pairs at once.
- Exit immediately if strength values reverse significantly.
Take profit
- Consider partial exits as the pair reaches intermediate strength levels.
- Take full profits when the strength values begin reverting toward neutral.
- Scale out positions to lock in gains while leaving some exposure.
- Use trailing stops to follow ongoing trends if desired.
MT4 Forex Profit Supreme and Free Forex Scalping Indicator Strategy
This MT4 scalping strategy uses the Forex Profit Supreme Metatrader 4 System Indicator to identify the strongest and weakest currencies at any given moment and then applies the Free Forex Scalping Indicator for precise entry signals using green and red histograms.
Combining currency strength analysis with scalping signals allows traders to focus on high-probability trades with momentum in their favor.
This strategy is best used on M1, M5, and M15 charts for fast scalping during active trading sessions.
It is suitable for traders who want structured, short-term trades and prefer data-driven entries using currency strength and visual signal confirmation.
Buy Entry Rules
- Check the Forex Profit Supreme indicator for currency pairs with strong uptrending potential (listed in blue) and extreme strength values above 90.
- Confirm that the Free Forex Scalping Indicator shows a green histogram signal for the same pair.
- Enter a buy trade at the next candle after both conditions are met.
- Set stop loss below the recent swing low or a few pips below the entry candle.
- Take profit when the red histogram appears or when the pair reaches a nearby resistance level.
Sell Entry Rules
- Check the Forex Profit Supreme indicator for currency pairs with strong downtrending potential (listed in red) and extreme strength values below -90.
- Confirm that the Free Forex Scalping Indicator shows a red histogram signal for the same pair.
- Enter a sell trade at the next candle after both conditions are met.
- Set stop loss above the recent swing high or a few pips above the entry candle.
- Take profit when the green histogram appears or when the pair reaches a nearby support level.
Advantages
- Combines currency strength analysis with scalping signals for higher probability trades.
- Provides clear buy and sell opportunities with numeric and visual guidance.
- Suitable for multiple currency pairs, including EURUSD, GBPUSD, AUDUSD, and USDJPY.
- Scalping setup works well during high volatility sessions such as London and New York.
- Allows quick entries and exits with minimal guesswork.
Drawbacks
- Requires active monitoring for fast execution.
- Stop losses can be triggered quickly if momentum reverses abruptly.
- Not suitable for long-term trading or holding positions overnight.
Case Study 1
On EURJPY M5, the Forex Profit Supreme indicator showed EUR as very strong and JPY as very weak, with the pair highlighted in blue and a strength value of 92.
The Free Forex Scalping Indicator confirmed a green histogram.
A buy trade was entered at 135.20.
Price quickly moved up to 135.35 (+15 pips) before a red histogram appeared, signaling an exit.
The trade captured 15 pips in just a few minutes.
Case Study 2
On AUDUSD M1, the Forex Profit Supreme indicator showed AUD as weak and USD as strong, with the pair highlighted in red and a strength value of -95.
The Free Forex Scalping Indicator displayed a red histogram.
A sell trade was entered at 0.6825.
Price dropped to 0.6812 (-13 pips) before a green histogram appeared, signaling the exit.
The trade captured 13 pips quickly, showing the strategy’s effectiveness for fast scalping.
Strategy Tips
- Always confirm that the currency pair is showing extreme values on the Forex Profit Supreme indicator before entering trades.
- Use the Free Forex Scalping Indicator as a precise entry signal to align with momentum.
- Consider taking partial profits if multiple histogram signals appear in quick succession.
- Avoid trading during major economic news releases to minimize slippage.
- Practice on a demo account to get familiar with timing, entry, and exit signals.
- For future posts, vary EUR, GBP, AUD, and USD quotes within realistic ranges to keep examples practical and current.
Download Now
Download the “ForexProfitSupreme Meter.mq4” Metatrader 4 indicator
FAQ
How many currencies does the indicator analyze?
It analyzes eight major currencies: USD, EUR, GBP, JPY, AUD, CAD, NZD, and CHF.
Which currency pairs are best to trade?
Pairs with extreme values above 90 or below -90 are considered the most favorable for buy or sell trades.
Can this indicator be used for scalping?
Yes. It works well for short-term trades and can be combined with intraday charts for precise entries.
Does it provide alerts?
Yes. Alerts can notify you when currency strength values reach extreme levels, signaling potential trade opportunities.
Summary
The Forex Profit Supreme indicator for MT4 streamlines currency pair selection by highlighting the strongest and weakest currencies.
It helps traders quickly identify the most promising buy and sell opportunities across multiple pairs.
By using extreme strength values and a clear visual layout, it reduces guesswork and allows traders to focus on high-probability trades.
