The Figurelli Series is a free indicator built for MT4 (Metatrader 4) that provides excellent buy and sell signals for scalpers.
The indicator appears in a separate MT4 window as an oscillator that fluctuates between the 39.6 and -39.6 extreme boundaries.
Scalping trades with the Figurelli Series indicator is easy to understand, even for absolute beginners.
Trade Idea
- Open a buy scalper trade as soon as the red histogram bars turn above the 0.00 neutral level.
- Open a sell scalper trade as soon as the red histogram bars turn below the 0.00 neutral level.
The Figurelli Series indicator can be used for both entry and exit signals or to confirm buy & sell trade setups issued by your favorite trading systems or strategies.
The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities, etc.) and shows promising results if used correctly.
Free Download
Download the “figurelli-series-indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the Figurelli Series mt4 indicator in action on the activity chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Figurelli Series 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 it repaint? No.
Figurelli Series + No Lag Moving Average Forex Scalping Strategy (MT4)
Intro
This scalping strategy pairs the Figurelli Series Scalper (MT4) with the No Lag Moving Average (MT4).
The Figurelli histogram gives a fast momentum read: above zero is bullish, below zero is bearish.
The No Lag MA uses color to show trend: blue means bullish, brown means bearish.
When both indicators agree, you reduce noise and get cleaner scalps.
This method is best on 1, 5, or 15-minute charts.
It is for active scalpers who can watch the screen and manage small positions.
Keep risk small and aim for frequent, short trades rather than long holds.
Buy Entry Rules
- The Figurelli histogram must be above zero and preferably rising from a recent low.
- No Lag MA indicator must be blue and sloping upward.
- Enter when the price closes above the No Lag MA and the closing Figurelli bar is bullish (above zero).
- Stop Loss: place 6–12 pips below entry on EUR/USD for 1–5 minute trades, or use 1.0–1.5 × ATR(14) for a dynamic stop.
- Take Profit: target 10–25 pips on majors for 1–5 minute scalps.
- Use a 1.5:1 or 2:1 reward-to-risk ratio, or trail the stop behind the No Lag MA once in profit.
Sell Entry Rules
- The Figurelli histogram must be below zero and preferably falling.
- No Lag MA indicator must be brown and sloping downward.
- Enter when the price closes below the No Lag MA and the closing Figurelli bar is bearish (below zero).
- Stop Loss: place 6–12 pips above entry on EUR/USD for 1–5 minute trades, or use 1.0–1.5 × ATR(14).
- Take Profit: target 10–25 pips for short scalps.
- Consider fixed TP or a trailing stop behind the No Lag MA.
Advantages
- Clear, objective entry and exit rules that combine momentum and trend.
- Fast signals suited for scalping on low timeframes.
- Combining Figurelli and No Lag MA reduces false starts where one indicator alone would mislead.
- Simple to backtest and easy to implement on MT4 with the linked indicators.
Drawbacks
- Vulnerable to news spikes and spread widening; avoid trading during major releases.
- Choppy markets can produce whipsaws even when indicators briefly agree.
- Frequent small losses add up if position sizing or discipline is poor.
- Requires hands-on management and fast execution to capture small moves.
Case Study 1 — EUR/USD, 5-Minute
Setup
Timeframe: 5 minutes. Pair: EUR/USD.
The Figurelli histogram rises above zero with two bullish bars.
The No Lag MA switches to blue and slopes up. Price closes above the No Lag MA.
Execution
- Entry: 1.0810 after the bullish close above the MA.
- Stop Loss: 1.0800 (10 pips risk).
- Take Profit: 1.0825 (15 pips target — 1.5:1 R:R).
Outcome
Price reached the target within about 18 candles.
A trailing stop behind the No Lag MA would have locked profits sooner, but the fixed TP yielded a clean 15-pip scalp.
Case Study 2 — GBP/USD, 1-Minute
Setup
Timeframe: 1 minute. Pair: GBP/USD.
Figurelli drops below zero with accelerating bearish bars.
No Lag MA turns brown and slopes down.
Price closes below the No Lag MA.
Execution
- Entry: 1.2590 after the bearish close below the MA.
- Stop Loss: 1.2598 (8 pips risk).
- Take Profit: 1.2578 (12 pips target — 1.5:1 R:R).
Outcome
The move hit the TP quickly, and the trade returned 12 pips.
Using ATR to size the stop would have adapted to slightly higher volatility and still worked well.
Strategy Tips
- Always check the economic calendar and avoid trading the pair during high-impact news events.
- Use small position sizes. Scalping produces many trades, and you must protect capital from occasional large moves.
- Prefer major pairs with tight spreads. Wide spreads erase small scalps.
- Consider a higher timeframe filter: if the 1-hour trend matches your scalp direction, your chances improve.
- If Figurelli flips but No Lag MA has not yet confirmed, wait for a candle close above or below the MA to avoid false starts.
- Use a trailing stop behind the No Lag MA when the trade moves in your favor to protect gains and ride stronger moves.
Download Now
Download the “figurelli-series-indicator.mq4” indicator for Metatrader 4
