Fiba + v7Rus is a free Metatrader 4 indicator that can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator appears in the main MT4 chart window as a set of advanced trend lines and trading patterns.
Trading signals
- Buy the currency pair whenever the price closes above the red colored resistance trend line.
- Sell the currency pair whenever the price closes below the red colored resistance trend line.
The indicator works equally well on all currency pairs (majors, minors, and exotic) and shows promising results if used correctly.
Free Download
Download the “Fiba+v7Rus.ex4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Fiba + v7Rus MT4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Fiba + v7Rus 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: Trend
Does the indicator repaint? No.
FIBA V7RUS + Simpler Trend MT4 Scalping Strategy
Introduction
This scalping strategy combines the FIBA V7RUS Indicator with the Simpler Trend Indicator.
The FIBA V7RUS identifies key trend levels using red resistance trend lines, while Simpler Trend provides early candlestick-based trend signals.
This combination is ideal for quick intraday scalping on M1–M5 charts for currency pairs with high liquidity and low spreads.
Setup
- Apply FIBA V7RUS to your MT4 chart.
- Apply Simpler Trend below the price chart.
- Trade major pairs like EUR/USD, GBP/USD, or USD/CHF for tight spreads.
- Use active trading hours during the London and New York sessions.
Buy Entry Rules
- Price closes above the red resistance trend line on FIBA V7RUS.
- Simpler Trend forms its first green candlestick (bullish confirmation).
- Enter a buy trade at the close of the confirming candlestick.
- Stop loss: a few pips below the recent swing low or FIBA support line.
- Take profit: next resistance level or 10–20 pips on M1–M5 charts.
- Exit early if the price closes back below the FIBA trend line or Simpler Trend shows a red candlestick.
Sell Entry Rules
- Price closes below the red resistance trend line on FIBA V7RUS.
- Simpler Trend forms its first red candlestick (bearish confirmation).
- Enter a sell trade at the close of the confirming candlestick.
- Stop loss: a few pips above the recent swing high or FIBA resistance line.
- Take profit: next support level or 10–20 pips on M1–M5 charts.
- Exit early if the price closes back above the FIBA trend line or Simpler Trend shows a green candlestick.
Advantages
- Dual confirmation reduces false scalping signals.
- Quick entries suitable for M1–M5 charts.
- Works well on major pairs with tight spreads.
- Simple visual cues for beginners and advanced scalpers alike.
Drawbacks
- Choppy markets may trigger false signals.
- Requires constant monitoring due to fast intraday movements.
- Small pip targets mean spreads can significantly affect profitability.
- FIBA trend lines can lag during sudden price spikes.
Example Case 1 — EUR/USD, 1-Minute Chart
On the EUR/USD M1 chart, the price closes above the FIBA red trend line. Simpler Trend forms the first green candlestick.
Entered a buy at 1.1050 with a 5-pip stop loss and 15-pip take profit.
Price quickly rises to 1.1065 within 12 minutes, achieving the target.
Example Case 2 — GBP/USD, 5-Minute Chart
On the GBP/USD M5 chart, the price closes below the FIBA red trend line. Simpler Trend forms the first red candlestick.
Entered a sell at 1.2750 with a 6-pip stop loss and 18-pip take profit.
Price moves down to 1.2732 within 25 minutes, hitting the target successfully.
Example Case 3 — USD/CHF, 5-Minute Chart
On the USD/CHF M5 chart, the price closes above the FIBA red trend line. Simpler Trend forms the first green candlestick.
Entered a buy at 0.9270 with a 5-pip stop loss and 15-pip take profit.
Price moves up to 0.9285 within 20 minutes, reaching the take profit target.
Strategy Tips
- Only trade when both the FIBA trend line and Simpler Trend candlestick align for a higher probability.
- Focus on major pairs for best liquidity and minimal spread impact.
- Adjust stop loss and take profit levels according to pair volatility.
- Consider trading during peak London and New York hours for more reliable moves.
- Use a demo account first to get comfortable with fast scalping entries and exits.
