Speed Scalper is a simple-to-use Forex scalping indicator for Metatrader 4 that identifies amazing buy & sell trade opportunities throughout the trading day.
Speed Scalper works for any time frame of your preference and does not repaint its signals.
The actual trading signals appear in a bottom chart window of the trading platform as colored bars.
Buy & Sell Trade Example
- Open a buy position when the blue signal bar gets printed on the chart.
- Open a sell position when the red signal bar gets printed on the chart.
- Close the open trade when an opposite signal arrow gets displayed on the chart.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Speed.mq4” indicator for MT4
Indicator Chart (USD/JPY M5)
The picture below shows the Speed Scalper mt4 indicator in action on the trading chart.
Trading Tips:
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: Scalper
Does the indicator repaint? No.
Scalping Strategy for MT4: Speed Scalper + KAMA Trend Indicator
This scalping strategy combines the Speed Scalper Forex Indicator MT4 with the KAMA Forex Trend Indicator MT4.
The Speed Scalper indicator provides quick entry signals with colored bars: blue for buy trades and red for sell trades.
The KAMA Trend indicator shows the overall trend direction based on price relative to a red moving line: above the line indicates a buy trend, while below indicates a sell trend.
Combining both allows traders to scalp short-term movements while following the trend.
This strategy works best on M1 and M5 charts during active sessions such as London and New York.
It is ideal for traders looking for fast trades with defined risk and exit rules.
Buy Entry Rules
- Confirm that the price is above the KAMA red line, indicating a bullish trend.
- Wait for a blue signal bar to appear on the Speed Scalper indicator.
- Enter a buy trade at the close of the blue bar.
- Set a stop loss below the recent swing low.
- Close the trade either when the signal bar changes color to red or when a fixed profit target between 7–15 pips is reached.
Sell Entry Rules
- Confirm that the price is below the KAMA red line, indicating a bearish trend.
- Wait for a red signal bar to appear on the Speed Scalper indicator.
- Enter a sell trade at the close of the red bar.
- Set a stop loss above the recent swing high.
- Close the trade either when the signal bar changes color to blue or when a fixed profit target between 7–15 pips is reached.
Advantages
- Quick and easy-to-read entry signals for scalping on lower time frames.
- Combines trend confirmation with bar-based signals for higher probability trades.
- Clear exit rules based on either profit target or signal reversal.
- Works well on multiple currency pairs with tight spreads.
- Reduces the chance of counter-trend trades by confirming the trend with KAMA.
Drawbacks
- Signals can be less reliable during sideways or choppy markets.
- Small-time frame scalping requires constant attention and fast execution.
- Spread and slippage may impact profitability on small pip targets.
- False signals may occur if the trend changes direction abruptly.
Case Study 1: EURUSD M1 – London Session
EURUSD was trading above the KAMA red line, confirming a bullish trend.
A blue signal bar appeared at 1.1005.
A buy trade was entered with a 4-pip stop loss.
Price reached the fixed target of 12 pips at 1.1017 within 6 minutes, and the trade was closed.
The combination of trend confirmation and bar signal provided a clean scalp setup.
Case Study 2: GBPUSD M5 – New York Session
GBPUSD was trading below the KAMA red line, indicating a bearish trend.
A red signal bar appeared at 1.2782.
A sell trade was executed with a 5-pip stop loss.
Within 10 minutes, the price moved down to 1.2772, capturing a 10-pip profit.
The trade was closed when the fixed profit target was reached.
Aligning the trend with the signal bar resulted in a high-probability scalp.
Strategy Tips
- Trade during high-volume sessions to increase the likelihood of strong price moves.
- Only take trades that align with the KAMA trend direction for higher probability entries.
- Close trades promptly when the signal bar reverses color to protect profits.
- Maintain tight stop losses to manage risk on small pip targets.
- Use multiple currency pairs to find the most active and responsive instruments.
- Avoid trading during low volatility or flat periods to reduce false signals.
- Combine with support and resistance levels for better entry and exit timing.
By using the Speed Scalper MT4 with the KAMA Trend MT4 indicator, traders can execute fast, trend-aligned scalps with clear rules for entry and exit.
Following trend confirmation and signal bar color changes ensures consistent intraday results on M1 and M5 charts.
