The Nice Value Chart Forex indicator for Metatrader 4 is a powerful chart tool for currency traders and appears in the bottom window of the trading platform.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
You can fully modify the indicator to suit your preferences.
For example: number of bars, overbought level, oversold level, alerts, colors, and so on.
Free Download
Download the “Nice Value Chart 1.0.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Nice Value Chart mt4 indicator in action on the trading chart.
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: Chart
Does the indicator repaint? No. Updates all info in real-time.
Nice Value Chart + Buzzer Forex Scalping Strategy (MT4)
This scalping strategy combines the Nice Value Chart Forex Indicator for MT4 with the Buzzer Forex Indicator for MT4.
The Nice Value Chart displays momentum bars in a sub-chart: green bars indicate rising bullish pressure, and orange bars indicate falling bearish pressure.
The Buzzer indicator overlays a green line for buy trends and a red line for sell trends.
By using both indicators together, traders can identify strong short-term moves and scalp efficiently on M1, M5, and M15 timeframes.
Why This Strategy Works
The Nice Value Chart measures immediate momentum shifts, showing when buying or selling pressure is building.
The Buzzer indicator confirms the trend direction.
When both align—green momentum bar with green Buzzer line for buys, or orange bar with red Buzzer line for sells—you get high-probability scalp entries.
This combination reduces false signals and helps traders ride short bursts of intraday momentum.
Buy Entry Rules
- Wait for a green bar on the Nice Value Chart sub-window, indicating rising bullish momentum.
- Confirm that the Buzzer line is green, showing bullish trend direction.
- Enter a buy trade at the open of the next candle after both signals align.
- Set stop loss below the recent swing low or below the low of the last momentum bar.
- Take profit when:
- The Buzzer line turns red, or
- A small pip target is reached (10–20 pips, depending on the timeframe).
Sell Entry Rules
- Wait for an orange bar on the Nice Value Chart, indicating rising bearish momentum.
- Confirm that the Buzzer line is red, showing bearish trend direction.
- Enter a sell trade at the open of the next candle after alignment.
- Set stop loss above the recent swing high or above the high of the last momentum bar.
- Take profit when:
- The Buzzer line turns green, or
- Pip target is achieved (10–20 pips for M1–M5, 20–30 for M15).
Advantages
- Fast, visual signals make entries and exits straightforward for scalpers.
- Combining momentum bars with trend confirmation reduces false entries.
- Works across multiple intraday timeframes.
- Allows precise stop loss placement using recent bars.
- Helps traders capture short bursts of strong intraday movement efficiently.
Drawbacks
- May give false signals in choppy or low-volatility conditions.
- Requires constant monitoring on lower timeframes (M1, M5).
- Spread and slippage can affect returns on very short moves.
- Overtrading is possible if the trader ignores trend alignment.
Case Study 1: EURUSD M5
On the EURUSD 5-minute chart, the Nice Value Chart displayed a green momentum bar while the Buzzer line was green.
A buy trade was executed at the next candle open with a stop loss below the last swing low.
Price quickly advanced, and the trade was closed when the Nice Value Chart bar turned orange, yielding approximately 18 pips within 20 minutes.
Case Study 2: GBPUSD M1
On the GBPUSD 1-minute chart, an orange bar appeared on the Nice Value Chart, and simultaneously, the Buzzer line turned red.
A sell trade was taken on the next candle, with a stop loss above the recent high.
Price fell steadily, and the trade was closed after the Nice Value Chart showed green bars again, capturing around 12 pips in 15 minutes.
Strategy Tips
- Use the strategy during active trading sessions for better momentum and fewer false signals.
- Always confirm both the momentum bar and the Buzzer trend line before entering.
- Adjust pip targets according to the timeframe and volatility.
- Focus on liquid pairs such as EURUSD, GBPUSD, and USDJPY for better price action response.
- Consider scaling out partially when momentum is strong to lock profits early.
- Monitor multiple pairs, but avoid overtrading to preserve discipline.
Download Now
Download the “Nice Value Chart 1.0.mq4” indicator for Metatrader 4
