The Clever Forex scalper indicator for Metatrader 5 is a remarkable tool designed for precise scalping currency pairs and Gold.
To enhance the accuracy of the scalping signal, the indicator relies on various technical indicators.
To identify buy/sell trade entries, adhere to these guidelines:
- The blue-colored Clever arrow is a buy signal.
- The red-colored Clever arrow is a sell signal.
This versatile indicator offers various customizable inputs and parameters, including trend for alerts, RSI period, EMA period, momentum RSI period, trigger sell, trigger buy, and more.
We highly recommend becoming familiar with this technical indicator and conducting extensive testing on a demo account for an extended period.
The Clever Forex scalper indicator can be effectively combined with other technical tools to validate short-term trends or utilized independently as a potent tool for scalping.
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Clever Scalper Pro MT5.mq5 Indicator (MT5)
Trading Chart
The picture below illustrates what the Clever Forex Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell With The Clever Forex Scalper Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is triggered when the blue-colored CLEVER arrow appears in the price chart.
- Open a buy market order and set a stop loss slightly below short-term support.
- Exit the CLEVER buy trade for 5-20 pips potential profit, or await a sell signal to close the buy trade.
Sell Signal
- A sell signal is triggered when the first red-colored CLEVER arrow appears in the price chart.
- Execute a sell market order and place a stop loss slightly above short-term resistance.
- Exit the CLEVER sell trade for 5-20 pips potential profit, or await a buy signal to close the sell trade.
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Clever Scalper Pro MT5.mq5 Indicator (MT5)
MT5 Scalping Strategy with Clever Forex Scalper and Stochastic of RSX
The Clever Forex Scalper Indicator for MT5 provides fast and reliable trade signals ideal for quick entries.
Combined with the Stochastic of RSX Forex Indicator, this strategy filters signals to confirm momentum and improve scalping accuracy.
Recommended Timeframes
Best used on M1 and M5 charts for quick trade setups.
Strategy Components
- Clever Forex Scalper: Generates entry signals based on price action and trend.
- Stochastic of RSX: Confirms momentum and identifies overbought/oversold conditions.
Buy Setup
- Wait for a buy signal from the Clever Forex Scalper.
- Confirm the Stochastic of RSX is coming out of oversold territory and trending upward.
- Enter a buy trade when both conditions align.
- Place stop-loss below recent support or swing low.
- Target quick profits using a tight take-profit or trailing stop.
Sell Setup
- Receive a sell signal from the Clever Forex Scalper.
- Ensure the Stochastic of RSX is exiting overbought territory and moving downward.
- Enter a sell trade once confirmed.
- Set stop-loss above recent resistance or swing high.
- Use a fast take-profit or trailing stop for scalping gains.
Why This Strategy Works
The Stochastic of RSX smooths momentum readings and helps avoid false signals, enhancing the Scalper’s precision in volatile short-term markets.
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 Clever Scalper Pro MT5.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!
