The Profiteer Forex indicator for MT4 is a complete trading system that provides amazing buy and sell signals for any currency pair.
The indicator pops up in the main MT4 chart window as red and magenta dots accompanied by the suggested profit target levels.
Buy & Sell Trade Example
- A magenta colored dot is a buy signal.
- A red colored dot is a sell signal.
- Take profit at the suggested profit target levels.
The Profiteer indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Iprofiteer.ex4” indicator for MT4
Indicator Chart (GBP/JPY H4)
The example chart below displays the Profiteer mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Profiteer 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: Signals
Does the indicator repaint? No.
Profiteer + Trend Suite MT4 Scalping Strategy
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.
