The Bezier Rapid Forex Scalper indicator for Metatrader 5 analyses short-term price action and provides rapid trade entry signals to scalpers.
Typically, we aim to make a profit of 5-10 pips per trade.
The indicator gets displayed as a blue and orange colored alternating signal line on the main chart window.
Here’s how to use the Bezier scalper tool:
- The blue colored Bezier line indicates a short-term bullish trend.
- The orange colored Bezier line indicates a short-term bearish trend.
The following indicator inputs and parameters can be modified: smoothing period, sensitivity ratio, applied price, horizontal and vertical shift.
This scalping indicator works best during the volatile London and American trading sessions.
To get the best results, it’s suggested to use this tool with currency pairs that have low spreads, such as EUR/USD, GBP/USD, USD/JPY, etc.
Before using it with real money, get familiar with this indicator and test it on a demo account for a long time.
It supports all time frames and Forex pairs.
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The following chart shows how the Bezier Rapid Forex Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Bezier Rapid Forex Scalper Indicator?
Find a simple trading strategy below:
- A buy signal occurs when the blue signal line gets plotted on the chart.
- Place a buy market order and add a protective stop loss just below immediate support.
- Exit the buy trade for 5-10 pips profit, or wait for a sell signal.
- A sell signal occurs when the orange signal line gets plotted on the chart (see chart example above).
- Place a sell market order and add a protective stop loss just above immediate resistance.
- Exit the sell trade for 5-10 pips profit, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the bezier.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration