TFX Trend Bars Scalper is a free beginner-friendly MT4 (Metatrader 4) indicator that provides precise scalper signals for any time frame of your preference.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The signals appear on the main MT4 chart window as blue and magenta colored candlesticks.
Buy & Sell Trade Example
- Open a buy position when the blue candlesticks appear on the chart.
- Open a sell position when the magenta candlesticks appear on the chart.
- Close and reverse the open position when an opposite signal occurs on the chart.
The TFX Trend Bars Scalper indicator can be used for both trade entry and exit or as an additional short-term trend filter.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “TFX TrendBars.ex4” indicator for MT4
Indicator Chart (EUR/JPY M5)
The example chart below displays the TFX Trend Bars Scalper mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with this scalper indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend
Does the indicator repaint? No.
TFX Trend Bars + XTC Trend MT4 Forex Scalping Strategy
This scalping strategy combines the TFX Trend Bars Scalper Indicator for MT4 and the XTC Trend Indicator for MT4.
It’s designed for quick entries and exits on very short time frames (M1 and M5 charts).
The first indicator gives immediate visual cues via candlestick colors (blue candlesticks = buy setup; magenta candlesticks = sell setup).
The second indicator uses a colored histogram (blue bars = buy trend; red bars = sell trend) to confirm the underlying trend.
By entering only when both indicators align, you increase the likelihood of capturing short bursts of momentum while keeping your trades disciplined.
Buy Entry Rules
- On the M1 or M5 chart, wait for the TFX Trend Bars indicator to produce a blue candlestick — this signals a potential buy setup.
- Check that the XTC Trend histogram is blue, confirming bullish momentum.
- Enter a buy trade at the close of the blue candlestick once both conditions are met.
- Place a stop loss just below the most recent swing low.
- Set a take profit target at approximately 1.5× the stop loss.
- Or exit when the XTC histogram turns red or a magenta candlestick appears from TFX Trend Bars.
Sell Entry Rules
- On the M1 or M5 chart, wait for the TFX Trend Bars indicator to show a magenta candlestick, signaling a potential sell setup.
- Confirm the XTC Trend histogram is red, indicating downward momentum.
- Enter a sell trade at the close of the magenta candlestick once both indicators align.
- Set the stop loss just above the recent swing high.
- Take profit at 1.5× stop loss distance.
- Or exit when the histogram turns blue or a blue candle appears from TFX Trend Bars.
Advantages
- Combines immediate entry signal (candlestick color) with trend confirmation (histogram) — improving odds.
- Designed for short time‑frames (M1/M5) so you can do multiple trades in a session.
- Defined risk and reward via stop loss and take profit make management straightforward.
- Works well during active sessions when momentum is strong.
Drawbacks
- Targets are small, so you need consistent wins and good risk control to make this pay off.
- You might trade too frequently if signals come often — disciplined trade selection is needed.
Example Case Study 1 – EURCAD M1
During the London session, on EURCAD M1, the TFX Trend Bars changed to a blue candlestick at 1.3605 while the XTC Trend histogram had turned blue.
A buy trade was entered at 1.3606, stop loss was 6 pips (1.3599), and take profit of 9 pips (1.3615).
Within about 10 minutes, the price moved to 1.3615, and the trade was closed for a 9‑pip gain.
The histogram stayed blue throughout the move, and no reversal candle appeared, so the scalp played out smoothly.
Example Case Study 2 – GBPUSD M5
On GBPUSD M5 shortly after the New York open, the TFX Trend Bars printed a magenta candlestick at 1.2810 as the XTC Trend histogram turned red, indicating a sell trend.
A sell trade was entered at 1.2808 with a stop loss of 10 pips (1.2818) and a target of 15 pips.
Over the next 20 minutes price fell to 1.2793, resulting in a 15‑pip profit.
The histogram remained red, and the signal conditions held until exit.
Strategy Tips
- Consider using a mini‑trailing stop once the trade is halfway to the target to lock in profit and still allow room for further moves.
- If the histogram changes color very soon after entry, consider exiting early to preserve capital.
- Back‑test the strategy for each pair in demo mode to see how much range they typically move on M1/M5 and adjust stop/take accordingly.
- Keep risk per trade small because many small trades can accumulate risk — consistency is more important than one large win.
This TFX Trend Bars + XTC Trend MT4 scalping strategy gives you a clear, rule‑based framework for short‑term trades on very small timeframes.
As with all scalping strategies, speed, discipline, and proper execution matter greatly.
