The Reflex Buy/Sell Forex scalper indicator for MT4 produces multiple entry and exit signals during the London and U.S. trading sessions.
The indicator is pretty accurate and easy to follow, even for absolute beginner traders.
It’s composed of a single signal line that appears in a separate trading window underneath the main trading chart.
This scalping indicator is always in the market, either with a buy or a sell trade.
In order to yield the best results, it’s recommended to deploy this scalper on the lower spread currency pair.
For instance, deploy on the EUR/USD, GBP/USD, USD/JPY,…
Key Points
- A blue line suggests that the currency pair will rise in the short term.
- An orange signal line suggests that the currency pair will decline in the short term.
- Utilize during the London and American trading sessions.
- For scalping, attach the indicator to the M5 and M15 charts.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
Free Download
Download the “Reflex.ex4” MT4 indicator
Indicator Chart (EUR/USD M5)
The EUR/USD 5-minute chart below displays the Reflex Forex Scalper MT4 indicator in action.
Basic Trading Signals
Signals from the Reflex Forex Scalper MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade as soon as the blue signal line appears on the chart.
Place a stop loss 3 pips below short-term support or use your own preferred stop loss strategy.
Take profit when an opposite signal appears on the chart (start of the orange signal line).
Sell Signal: Open a sell trade as soon as the orange signal line appears on the chart.
Place a stop loss 3 pips above short-term resistance or use your own preferred stop loss strategy.
Take profit when an opposite signal appears on the chart (start of the blue signal line).
Reflex Buy Sell Indicator + 4 Time Frame Hull Trend MT4 Forex Strategy
This MT4 strategy combines the Reflex Buy Sell Forex Scalper and the 4 Time Frame Hull Trend Indicator MT4.
The Reflex Scalper shows a blue line for buy signals and an orange line for sell signals, while the 4 Time Frame Hull Trend indicator provides a buy bias when all four HMAs are green and a sell bias when all four HMAs are purple.
This combination allows traders to scalp short-term trends with strong alignment across multiple time frames, ideal for M1 and M5 charts during active market sessions.
Buy Entry Rules
- Confirm that all four HMAs on the 4 Time Frame Hull Trend indicator are green, indicating a strong buy bias.
- Enter a buy trade when the Reflex Buy Sell indicator shows the blue line.
- Place a stop loss a few pips below the recent swing low or the low of the signal candle.
- Set a take profit target of 8–15 pips for M1 charts or 15–25 pips for M5 charts, or close when the HMAs start to turn purple or the Reflex line turns orange.
Sell Entry Rules
- Confirm that all four HMAs on the 4 Time Frame Hull Trend indicator are purple, indicating a strong sell bias.
- Enter a sell trade when the Reflex Buy Sell indicator shows the orange line.
- Place a stop loss a few pips above the recent swing high or the high of the signal candle.
- Set a take profit target of 8–15 pips for M1 charts or 15–25 pips for M5 charts, or close when the HMAs start to turn green or the Reflex line turns blue.
Advantages
- Combines multi-timeframe trend confirmation with precise entry signals for higher-probability trades.
- Effective for scalping on M1 and M5 charts with clear visual cues.
- Helps traders align short-term entries with the overall trend direction.
- Works well on major currency pairs with high liquidity.
Drawbacks
- Signals may lag slightly during sharp reversals, causing late entries or exits.
- Frequent scalping trades can be mentally demanding and require fast execution.
- Requires active monitoring since trends and signals change quickly on M1 and M5 charts.
Case Study 1: EURUSD M1 Chart
During the London session, all four HMAs were green, indicating a buy bias.
The Reflex Buy Sell indicator showed the blue line at 1.0835.
A buy trade was entered at 1.0835 with a stop at 1.0827.
Price moved to 1.0847 (12 pips) before the HMAs started to show weakening and the Reflex line turned orange, signalling exit.
Case Study 2: GBPUSD M5 Chart
During the New York session, all four HMAs were purple, indicating a sell bias.
The Reflex indicator displayed the orange line at 1.2668.
A sell trade was entered at 1.2668 with a stop at 1.2680.
Price dropped to 1.2645 (23 pips) before the HMAs began to turn green and the Reflex line showed a blue signal, prompting exit.
Strategy Tips
- Combine this strategy with support and resistance levels to confirm entries and exits for higher accuracy.
- Focus on currency pairs showing clear trending behavior rather than choppy or sideways markets.
- Use multiple time frame analysis to check if the M15 or H1 chart aligns with the scalping trend on M1/M5 charts.
- Monitor the strength of major sessions like London and New York to increase the probability of winning trades.
- Limit the number of trades per session to avoid overtrading and reduce mental fatigue.
- Use proper spread filters to avoid trading pairs with unusually high spreads during off-hours.
- Regularly review past trades to identify which times and pairs produce the most consistent scalping opportunities.
Download Now
Download the “Reflex.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (reflex period), Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: Forex scalper
