The Fisher MBK indicator that runs on mt4 (Metatrader 4) can be categorized as a precise Forex scalper indicator.
The indicator pops up in a separate MT4 chart window as an oscillator without extreme borders.
Buy & Sell Trade Example
- Open a rapid buy trade whenever the green colored histogram bars get printed on the chart.
- Open a rapid sell trade whenever the red colored histogram bars get printed on the chart.
The Fisher MBK 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 “Fisher_mbk.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Fisher MBK 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 Fisher MBK Forex 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: Oscillator
Does the indicator repaint? No.
MT4 Scalping Strategy with Fisher MBK and MACD Crossover Signal
This scalping strategy for MT4 uses two momentum / signal-based indicators to provide fast, high-probability entries.
The Fisher MBK Forex Scalper Indicator measures market direction via its histogram bars: green bars above zero mean bullish momentum, red bars below zero mean bearish momentum.
The MACD Crossover Signal Indicator adds confirmation—green arrows signal bullish crossovers, red arrows signal bearish crossovers.
This strategy is intended for fast trades on lower timeframes (M1, M5, M15).
It’s ideal for scalpers who like to enter quick, short-duration setups.
You’ll want to trade during active sessions with decent volatility (London, New York).
Because scalps are tight, you must manage risk carefully.
Buy Entry Rules
- The Fisher MBK histogram must show green bars and be above the zero line (positive territory).
- The MACD Crossover Signal indicator must produce a green arrow (bullish crossover confirmation).
- Enter the buy order at the close of the candle that shows the green arrow (provided the Fisher MBK remains bullish).
- Set stop loss a few pips below the recent swing low or below the bar that triggered the signal.
- Use take profit at a risk:reward of 1.5:1 or 2:1, or target nearby resistance zones.
Sell Entry Rules
- The Fisher MBK histogram must show red bars and be below the zero line (negative territory).
- The MACD Crossover Signal indicator must produce a red arrow (bearish crossover confirmation).
- Enter the sell order at the close of the candle that gave the red arrow (if Fisher MBK remains bearish).
- Set stop loss a few pips above the recent swing high or above the bar that triggered the signal.
- Take profit at 1.5:1 or 2:1 risk:reward, or aim for nearby support zones.
Advantages
- The dual confirmation reduces false signals: momentum + crossover must align.
- Using histogram direction helps you trade in the direction of real momentum.
- Clear visual cues (green/red bars, arrows) make entries easier to spot.
- Works well in active forex pairs with tight spreads in intraday sessions.
Drawbacks
- In sideways or choppy markets, signals may whipsaw or be unreliable.
- You may miss parts of moves if one indicator lags behind the other.
- Frequent small losses may occur if risk control is not strict.
- Scalping demands good execution, low latency, and discipline.
Case Study 1: EUR/USD on 5-Minute Chart
During an active London session, Fisher MBK histogram turned green above zero.
Shortly afterward, the MACD Crossover indicator printed a green arrow on a retracement candle.
At the close of that candle, a buy order was placed with a stop loss just under the swing low.
Price rose steadily and hit the profit target (1.5:1).
The alignment of both indicators showed momentum continuation and a clean entry.
Case Study 2: USD/JPY on 1-Minute Chart
In a volatile move, Fisher MBK dropped below zero with strong red bars.
Soon after, the MACD Crossover indicator showed a red arrow.
A sell trade was triggered on that candle’s close, with stop loss slightly above the signal bar’s high.
Price kept falling and reached the 2:1 profit target before a reversal began.
This trade illustrated how combining the indicators can catch fast intraday moves.
Strategy Tips
- Prefer major, high-liquidity pairs to reduce spreads and slippage (EUR/USD, GBP/USD, USD/JPY).
- Use a higher timeframe context (e.g., H1 or H4 trend) to avoid trading against strong moves.
- Avoid trading right before or during major news releases that can cause sudden reversals and fake signals.
- Start with low risk per trade (0.5% or 1% of account) until you build confidence.
- Monitor spread: if the spread is too high relative to your target, skip that trade.
- Consider a trailing stop after entry if the price moves favorably, to lock in profits.
- Backtest settings (histogram smoothing, MACD periods) on the pair you like to trade to find optimal parameters.
By combining the Fisher MBK Forex Scalper Indicator with the MACD Crossover Signal Indicator on MT4, you get a two-layer filter: momentum via histogram direction and crossover confirmation via arrows.
With strict risk management, this approach offers a disciplined way to scalp intraday moves.
