Forex Turbo Scalper is a free MT4 (Metatrader 4) indicator that spots early changes in the shorter-term trend for scalping purposes.
The indicator pops up in a separate MT4 chart window as blue/brown/red colored histogram bars.
This scalper indicator is easy to trade with, even for absolute beginners.
Buy & Sell Trade Example
- A buy scalping trade occurs as soon as the blue bar pops up on the chart.
- A sell scalping trade occurs as soon as the red bar pops up on the chart.
- Brown bars indicate sideways price action; keep your position open (if any).
The Forex Turbo Scalper 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 exotics) and shows promising results when used correctly.
Free Download
Download the “forex-scalper.mq4” indicator for MT4
Indicator Chart (EUR/AUD M15)
The example chart below displays the Forex Turbo Scalper mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Turbo Scalper 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: Scalper
Does the indicator repaint? No.
Forex Turbo Scalper + Wajdyss ADX MT4 Scalping Strategy
This MT4 scalping strategy combines the Forex Turbo Scalper and the Wajdyss ADX Forex Indicator to capture very short-term price movements for a few pips profit.
The Forex Turbo Scalper responds quickly to fast market changes with blue histogram bars for buy signals and red bars for sell signals.
The Wajdyss ADX confirms the overall trend with green arrows for bullish trends and red arrows for bearish trends.
This strategy is ideal for scalpers using 1-minute to 5-minute charts.
Buy Entry Rules
- Check that the Wajdyss ADX displays a green arrow, indicating a bullish trend.
- Look for a blue histogram bar on the Forex Turbo Scalper, signaling a short-term buy opportunity.
- Enter a buy trade at the close of the candle with the blue histogram bar.
- Set a tight stop loss just below the recent swing low to minimize risk.
- Set take profit at 3–5 pips or close the trade once the histogram bar turns red.
Sell Entry Rules
- Check that the Wajdyss ADX displays a red arrow, indicating a bearish trend.
- Look for a red histogram bar on the Forex Turbo Scalper, signaling a short-term sell opportunity.
- Enter a sell trade at the close of the candle with the red histogram bar.
- Set a tight stop loss just above the recent swing high.
- Set take profit at 3–5 pips or close the trade once the histogram bar turns blue.
Advantages
- Quick response to fast market moves using the Forex Turbo Scalper.
- Trend confirmation from the Wajdyss ADX reduces false signals.
- Optimized for scalping very small gains, making it suitable for active intraday trading.
- Predefined entry, stop loss, and take profit levels improve risk management.
Drawbacks
- Requires constant monitoring due to very short-term trades.
- Small pip targets mean multiple trades are needed for meaningful profits.
- Less effective during low volatility periods or when spreads are wide.
- Fast execution brokers are recommended to avoid slippage.
Example Case Studies
Case Study 1: EUR/USD M1 Chart
The Wajdyss ADX displayed a green arrow, confirming a bullish trend.
A blue histogram bar appeared on the Forex Turbo Scalper, signaling a buy.
The trade was opened at 1.1052 with a stop loss at 1.1050.
Price quickly moved to 1.1057, achieving a 5-pip target in under 5 minutes.
Case Study 2: GBP/USD M1 Chart
The Wajdyss ADX displayed a red arrow, confirming a bearish trend.
A red histogram bar appeared on the Forex Turbo Scalper, signaling a sell.
The trade was opened at 1.2950 with a stop loss at 1.2953.
Price dropped to 1.2945, hitting the 5-pip target within 7 minutes.
Strategy Tips
- Use 1-minute to 5-minute charts for scalping small pip profits.
- Focus on active trading sessions like London and New York for better volatility.
- Always wait for confirmation from both indicators before entering a trade.
- Use tight stop losses and close trades quickly to avoid reversal risks.
- Practice on a demo account first to master entry timing and trade management.
