Nice is a free Metatrader 4 Forex scalper indicator that displays accurate buy & sell arrow signals in the main MT4 chart.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Buy & Sell Trade Example
- Open a buy position when the green arrow appears on the chart.
- Open a sell position when the magenta arrow appears on the chart.
- Aim for 7-30 pips profit per trade.
The Nice Forex Scalper indicator can be used for both trade entry and exit or as an additional short-term trend filter.
For scalping, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “NICE.mq4” indicator for MT4
Indicator Chart (EUR/USD M30)
The picture below shows the Nice 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 to trade with the Nice Forex 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: Scalper
Does the indicator repaint? No.
Nice Scalper + BB MACD V6 Forex Scalping Strategy (MT4)
This scalping method combines the fast-reacting Nice Forex Scalper Indicator for MT4 with the reliable trend filter of the BB MACD V6 Forex Indicator for MT4.
The Nice Scalper provides instant buy and sell signals through green and magenta arrows, while the BB MACD V6 confirms the overall trend by displaying a histogram above or below the zero line.
This strategy works best on short timeframes such as M1, M5, or M15 for quick and consistent scalping opportunities.
Why This Strategy Works
Scalping success depends on combining a precise entry signal with a solid trend filter.
The Nice Scalper excels at pinpointing short-term turning points through its fast calculations and arrow alerts.
The BB MACD V6 confirms momentum strength — only when the histogram supports the arrow’s direction do we enter the trade.
This dual confirmation helps eliminate weak setups and allows traders to catch stronger, cleaner moves in volatile market sessions.
Buy Entry Rules
- Wait for a green arrow from the Nice Forex Scalper indicator.
- Confirm that the BB MACD V6 histogram is above the zero line (bullish momentum).
- Enter a buy trade at the opening of the next candle after both conditions align.
- Set the stop loss a few pips below the last swing low or below a recent support level.
- Take profit when:
- The BB MACD histogram drops below zero, or
- A magenta arrow appears (opposite signal), or
- A fixed pip target (10–25 pips) is reached.
Sell Entry Rules
- Wait for a magenta arrow from the Nice Forex Scalper indicator.
- Confirm that the BB MACD V6 histogram is below the zero line (bearish momentum).
- Enter a sell trade at the opening of the next candle after both signals align.
- Set the stop loss a few pips above the recent swing high or resistance level.
- Take profit when:
- The BB MACD histogram rises above zero, or
- A green arrow appears, or
- A fixed profit target (10–25 pips) is hit.
Advantages
- Simple setup with clear entry and exit signals.
- Filters out false arrows using MACD trend direction.
- Works on multiple pairs and short-term timeframes (M1–M15).
- Visual signals make it easy to follow without confusion.
- Perfect for traders who prefer fast, high-frequency setups.
Drawbacks
- Requires focus and fast execution due to the short timeframe nature.
- Spread and slippage can affect profit on lower timeframes.
- Frequent trades may cause overtrading if not disciplined.
Case Study 1: EURUSD M5
On the EURUSD 5-minute chart, a green arrow appeared at 1.0785 while the BB MACD V6 histogram was clearly above zero, confirming bullish momentum.
A buy order was placed at the next candle open with a stop loss at 1.0775.
Price climbed steadily, and a magenta arrow appeared at 1.0808, signaling an exit with +23 pips profit in under 40 minutes.
Case Study 2: USDJPY M1
On the USDJPY 1-minute chart, a magenta arrow appeared around 149.45 while the BB MACD histogram dropped below zero.
A sell order was triggered at 149.44 with a stop at 149.52.
Price fell sharply to 149.30 before the histogram turned positive again.
The scalp captured approximately +14 pips in 15 minutes — a quick, clean trade aligned with momentum.
Strategy Tips
- Use the strategy only during high-volatility sessions (London or New York).
- Always confirm arrow direction with the BB MACD histogram before entering.
- For risk control, use a fixed stop loss and avoid increasing lot size during drawdowns.
- On higher timeframes like M15, aim for slightly larger targets (25–40 pips).
- Test different currency pairs such as GBPUSD, EURJPY, and AUDUSD to find the best reaction patterns.
- Record trades to refine timing and improve consistency.
