The Forex Chaos Scalper indicator for Metatrader 5 is based on movement strength and delivers accurate buy and sell signals for scalpers and day traders.
This technical tool works best during the most active trading hours and on the lower spread currency pairs.
Typically, we will be looking for 8-15 pips profit per trade.
The Forex Chaos Scalper gets loaded in a separate chart window as two colored signal lines that cross each other every time the trend turns in the opposite direction.
The following indicator inputs can be modified: period, chaos strength, chaos width, and movement strength.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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Cercos_Chaos_vs_Movement.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Forex Chaos Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Forex Chaos Scalper Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal occurs when the red line crosses the green line bottom-up.
- Open a long trade and place your initial stop loss below short-term support.
- Exit the buy trade for 8-15 pips profit (depends on the chosen time frame).
Sell Signal
- A bearish signal occurs when the red line crosses the green line top-down.
- Open a short trade and place your initial stop loss above short-term resistance.
- Exit the sell trade for 8-15 pips profit (depends on the chosen time frame).
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Cercos_Chaos_vs_Movement.mq5 Indicator (MT5)
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 Cercos_Chaos_vs_Movement.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