The Best Forex Scalper indicator is a complete trading solution being sold for $97; here, you can download it for free.
This scalper is based on price action channels and does not give any lagging signals.
Moreover, it gets you in the trade before the short-term move begins.
Don’t worry, the scalper indicator comes with full alerts, so you don’t need to stay glued to your screen all day.
Key Points
- Ready to use for scalpers.
- Easy to trade buy & sell arrows.
- Provides precise trade entry signals.
- Multiple trades throughout the day.
- Aim for 5-15 pips per trade.
The Best Forex Scalper can work together with any existing trading strategy or system as an additional short-term signals indicator.
Free Download
Download the “Best Forex Scalper Indicator.ex4” MT4 indicator
Indicator Example Chart (EUR/USD M5)
The EUR/USD M5 chart below shows the Best Free Forex Scalper Indicator in action.
Basic Trading Signals
Signals from the Best Free Forex Scalper Indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- Open a buy scalper trade when the blue arrow pops up on the chart.
- Place a stop below the green dots.
- Exit the trade for 5-15 pips per trade.
SELL:
- Open a sell scalper trade when the red arrow pops up on the chart.
- Place a stop above the red dots.
- Exit the trade for 5-15 pips per trade.
Best Free Forex Scalper + Magic Trend MT4 Strategy
This scalping strategy uses the Best Free Forex Scalper Indicator for MT4 combined with the Magic Trend Forex Indicator for MT4.
The first indicator gives you a blue arrow for a buy scalper signal and a red arrow for a sell scalper signal.
The second indicator shows a green line when the trend is bullish and a red line when the trend is bearish.
This gives you a simple yet effective rule‑set: trade in the direction of the trend, and enter when the scalper arrow appears.
Timeframes: ideal for M1, M5, and M15 charts on major currency pairs.
Buy Entry Rules
- Ensure the Magic Trend line is green (bullish trend).
- Wait for a blue arrow from the Best Free Forex Scalper indicator to appear.
- Enter a buy trade at the close of the candle that shows the blue arrow.
- Set a stop‑loss a few pips below the recent swing low (for example, 5‑10 pips on M5).
- Set a take‑profit at around 1× to 1.5× the stop‑loss distance, or exit when the Magic Trend line turns red or a red arrow appears.
Sell Entry Rules
- Ensure the Magic Trend line is red (bearish trend).
- Wait for a red arrow from the Best Free Forex Scalper indicator to appear.
- Enter a sell trade at the close of the candle that shows the red arrow.
- Set a stop‑loss a few pips above the recent swing high (for example, 5‑10 pips on M5).
- Set take‑profit at approximately 1× to 1.5× the stop‑loss size, or exit when the Magic Trend line turns green or a blue arrow appears.
Advantages
- Simple visual signals (arrows + trend line) make the strategy easy to follow.
- Works well for fast intraday scalping on lower timeframes (M1, M5, M15).
- Combines trend‑direction (Magic Trend) with entry timing (scalper arrow) for better filtering of bad trades.
Drawbacks
- The Magic Trend line may lag slightly when the trend is just beginning or reversing, which can lead to late entries and reduced profit.
- Scalping style increases transaction cost risk (spreads/commissions) and demands high concentration.
Case Study 1 – EUR/USD (M5 Chart)
During the London session on EUR/USD, the Magic Trend line turned green, indicating a bullish trend.
Shortly afterwards, the Best Free Forex Scalper indicator produced a blue arrow at 1.0980.
A buy trade was entered at 1.0982 with a stop‑loss at 1.0975 (7 pips).
The price moved to 1.0995 within 20 minutes, yielding +13 pips (~1.9× risk).
The strategy captured a clean move aligned with the trend and timely arrow.
Case Study 2 – USD/CAD (M15 Chart)
On the USD/CAD M15 chart during the New York session, the Magic Trend line was red (bearish bias).
The scalper indicator generated a red arrow at 1.3520.
A sell trade was entered at 1.3518 with a stop‑loss at 1.3530 (12 pips).
The price dropped to 1.3495 within an hour, providing ~23 pips profit (~1.9× risk).
The trade worked because trend and entry aligned, and the timeframe gave enough move for a reward.
Strategy Tips
- Prefer major pairs with good liquidity and low spread (EUR/USD, GBP/USD, USD/JPY, etc) for faster reaction and lower cost.
- On M1 and M5 charts, reduce position size or risk per trade, as these timeframes are more volatile and prone to noise. Perhaps use 0.5× normal size on M1.
- Keep a trade journal to track how often the arrows give correct signals and adjust stop‑loss/take‑profit sizing based on the pair’s volatility.
This strategy, using the Best Free Forex Scalper and Magic Trend MT4 indicators gives scalpers a clear and structured approach.
Trade in the direction of the trend, wait for a clear arrow, enter the market, manage your risk, and exit when the trend changes or the opposite signal appears.
Always test on a demo account before trading live and adjust settings for your broker and spreads.
Download Now
Download the “Best Forex Scalper Indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
Arrows, alerts, colors, width, and style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Scalper
