About the Speed Scalper Forex Indicator
Speed Scalper is a simple-to-use Forex scalping indicator for Metatrader 4 that identifies amazing buy & sell trade opportunities throughout the trading day.
The actual trading signals appear in a bottom chart window of the trading platform as colored bars, allowing you to monitor the trend without cluttering your main price chart.
A significant advantage is that the system does not repaint its signals, ensuring that the bars stay fixed once the candle has closed.
Because it is very reliable and lightweight, it will not slow down your trading platform, making it a staple for traders who value both execution speed and signal accuracy.
Free Download
Download the “Speed.mq4” indicator for MT4
Key Features
- It utilizes a color-coded histogram to provide instant confirmation of short-term trends.
- The non-repainting logic provides a stable environment for historical backtesting.
- The indicator focuses on high-velocity moves typical of the London and New York sessions.
- The sub-window placement keeps the main chart clean for identifying price action levels.
Indicator Chart
The Speed Scalper indicator chart features a separate window at the bottom of the platform where the histogram bars are displayed.
Blue bars rising from the baseline indicate that bullish momentum is accelerating, suggesting a buy-side advantage.
Red bars signify bearish pressure, showing that sellers are pushing the market lower.
By watching for the transition between these two colors, a trader can easily identify the exact moment a trend begins to turn.
Guide to Trade with Speed Scalper Forex Indicator
Trading with this tool involves monitoring the histogram for color shifts that signal a new momentum burst.
Buy Rules
- Monitor the indicator window and wait for the bars to transition from red to blue.
- Open a buy position when the blue signal bar gets printed on the chart.
- Confirm the entry by ensuring the current candle has closed with bullish conviction.
- Verify that the signal aligns with a bounce from a recent support level.
Sell Rules
- Watch the bottom window for the bars to flip from blue to red.
- Open a sell position when the red signal bar gets printed on the chart.
- Confirm the signal by waiting for the candle to close to lock in the bearish momentum.
- Check that the price is currently trading below a major resistance zone.
Stop Loss
- Secure your buy entry by placing the stop loss a few pips below the most recent swing low.
- Protect your sell trade by positioning the stop loss slightly above the latest swing high.
- Adjust your stop placement based on the current volatility of the chosen currency pair.
- Always follow a fixed risk-per-trade strategy to ensure long-term account sustainability.
Take Profit
- Close the open trade when an opposite signal bar gets displayed on the chart.
- Secure your gains at a 1:1.5 or 1:2 risk-to-reward ratio for consistent growth.
- Consider exiting the position if the price reaches a major psychological or horizontal level.
- You can also trail your stop loss to lock in profits as the trend extends.
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.
Download Now
Download the “Speed.mq4” indicator for Metatrader 4
FAQ
Can I use this indicator for higher timeframe swing trading?
While it is named “Speed Scalper,” the indicator works for any time frame.
On higher timeframes like the 4-hour or Daily charts, it acts as a powerful trend filter.
It helps you identify the core momentum of the week, allowing you to stay in winning trades longer and avoid the “noise” that often leads to premature exits.
Which currency pairs work best with this tool?
This indicator performs exceptionally well on major currency pairs like EUR/USD, GBP/USD, and USD/JPY due to their high liquidity.
These pairs tend to move in cleaner trends with fewer random price spikes, which allows the Speed Scalper to identify momentum shifts with greater accuracy.
It is also effective on Gold (XAU/USD) during high-volume sessions.
Summary
The Speed Scalper for MT4 is an effective momentum tool that assists in determining the appropriate timing for market entries.
By offering a visual representation of immediate buyer and seller strength, it helps you avoid the common mistake of trading during low-volume consolidation.
This tool helps traders maintain a consistent routine by highlighting levels where the market is statistically likely to expand.
Using this indicator allows you to filter high-risk trades and focus on high-conviction momentum bursts.
