Entropy Math is a free mt4 (Metatrader 4) oscillator type Forex indicator that works quite well for scalping currency pairs.
The indicator appears in a separate MT4 chart window as a yellow colored oscillator.
Entropy Math can be used in multiple ways.
Buy and Sell Example
- Open a buy scalping trade whenever the yellow colored bars cross the zero level bottom-up.
- Open a sell scalping trade whenever the yellow colored bars cross the zero level top-down.
The Entropy Math 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 “entropy-math.mq4” indicator for MT4
Indicator Example Chart (EUR/USD M5)
The example chart below displays the Entropy Math mt4 indicator in action.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Entropy Math 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: Scalping
Does the indicator repaint? No.
