About the Profiteer Forex Indicator
The Profiteer Forex Indicator for MT4 is a complete trading system that provides clear and actionable buy and sell signals for forex traders.
Designed for simplicity and effectiveness, it allows traders to focus on market opportunities without manual calculations or complicated setups.
The indicator appears directly in the main MT4 chart window as colored dots and suggested profit target levels.
Magenta dots indicate buy signals, while red dots indicate sell signals.
Each signal comes with a suggested take profit level, giving traders a clear idea of potential trade outcomes.
The Profiteer Forex Indicator is beginner-friendly and also provides value for experienced traders seeking a structured system.
Free Download
Download the “Iprofiteer.ex4” indicator for MT4
Key Features
- Automatic buy and sell signals are displayed as magenta and red dots
- Suggested take profit levels for each trade
- Works on all currency pairs and timeframes
- Optimized for intraday and swing trading strategies
Indicator Chart
The chart shows the Profiteer Forex Indicator applied to an MT4 price chart.
Magenta dots indicate potential buy trades, and red dots show potential sell trades.
Suggested profit target levels help traders set realistic exit points and manage trades effectively.
Guide to Trade with the Profiteer Forex Indicator
Buy Rules
- Enter a buy trade when a magenta dot appears on the chart
- Confirm the trend or price action supports a long position
- Set the take profit at the suggested target level
Sell Rules
- Enter a sell trade when a red dot appears on the chart
- Confirm market direction favors short positions
- Take profit at the suggested target level
Stop Loss
- Place a stop loss a few pips beyond recent swing highs or lows
- Keep stops tight for shorter timeframe scalping
Take Profit
- Use the suggested profit target provided by the indicator
- Optionally scale out partial positions near the target
- Close the trade early if an opposite dot appears
Practical Tips
- Combine signals with a trend filter or moving average for higher accuracy
- Focus on high-liquidity sessions for better signal reliability
- Do not overtrade; follow one signal at a time
- Check higher timeframes to avoid taking trades against strong trends
Profiteer Indicator + Trend Suite Forex Scalping Strategy for MT4
This scalping strategy combines the Profiteer Forex Indicator MT4 and the Trend Suite MT4 Indicator to capture short-term price movements.
The Profiteer Indicator provides clear entry signals: a magenta dot is a buy, while a red dot is a sell.
The Trend Suite confirms the market trend: price above the blue cloud is bullish, and price below the cloud is bearish.
Combining these two ensures trades follow the trend while entering at high-probability points.
This strategy works best on M5 and M15 charts, ideal for intraday scalpers seeking quick trades.
Buy Entry Rules
- Ensure the price is above the blue cloud of the Trend Suite Indicator, confirming a bullish trend.
- Wait for the Profiteer Indicator to display a magenta dot, signaling a buy.
- Enter a buy trade at the close of the signal candle.
- Set a stop loss 10–15 pips below the entry or recent swing low.
- Set take profit at 1:1.5 risk-reward or exit when the Profiteer Indicator shows a red dot.
Sell Entry Rules
- Ensure the price is below the blue cloud of the Trend Suite Indicator, confirming a bearish trend.
- Wait for the Profiteer Indicator to display a red dot, signaling a sell.
- Enter a sell trade at the close of the signal candle.
- Set a stop loss 10–15 pips above the entry or recent swing high.
- Set take profit at 1:1.5 risk-reward or exit when the Profiteer Indicator shows a magenta dot.
Advantages
- Combines trend confirmation with precise entry signals for higher probability trades.
- Works well on short-term charts for fast scalping opportunities.
- Simple and easy to follow for both novice and experienced traders.
- Quick exits when the trend reverses, minimizing potential losses.
Drawbacks
- Less effective in sideways or choppy markets.
- Requires active monitoring due to fast intraday moves.
- Frequent trading can increase spread and commission costs.
- Discipline is needed to avoid overtrading during low-volatility periods.
Example Case Study 1: EUR/USD (M5)
Price is above the blue cloud (bullish trend). Profiteer Indicator plots a magenta dot.
Buy trade entered at 1.2000, stop loss at 1.1985, take profit at 1.2025.
Trade reaches take profit within 30 minutes.
Example Case Study 2: GBP/JPY (M15)
Price is below the blue cloud (bearish trend). Profiteer Indicator plots a red dot.
Sell trade entered at 151.200, stop loss at 151.350, take profit at 150.950.
Trade reaches take profit within 45 minutes.
Scalping Tips
- Always trade in the direction of the Trend Suite cloud for higher probability.
- Use tight stop losses to protect capital in volatile markets.
- Avoid trading during major news events to prevent false signals.
- Focus on currency pairs with low spreads for more efficient scalping.
- Combine with support and resistance levels to refine entries and exits.
Download Now
Download the “Iprofiteer.ex4” indicator for Metatrader 4
FAQ
Does the Profiteer Forex Indicator repaint?
No. Once a dot appears on the chart, it remains fixed and does not change based on later price movements.
What do the suggested profit targets represent?
These levels indicate realistic exit points based on the signal’s expected move and help traders manage trades efficiently.
Can the indicator be used for multiple currency pairs simultaneously?
Yes. It works well on all major, minor, and exotic currency pairs, but liquidity and volatility can affect signal performance.
Summary
The Profiteer Forex Indicator for MT4 is a complete and practical trading system that provides clear buy and sell signals along with suggested profit targets.
Its visual approach simplifies decision-making and allows traders to focus on high-probability trades without complex analysis.
Overall, the Profiteer Forex Indicator is a reliable tool for those seeking a structured and easy-to-use system for forex trading with predefined profit objectives.
