Gann Forex Scalper is a free MT4 (Metatrader 4) winning indicator that delivers nice results on the lower spread currency pairs.
The indicator pops up in the main MT4 chart window as red & green colored arrows.
The Gann Forex Scalper indicator is beginner-friendly and works out of the box.
Buy & Sell Trade Example
- A buy signal occurs whenever the green signal arrow pops up on the chart.
- A sell signal occurs whenever the red signal arrow pops up on the chart.
The Gann Forex 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 “GannHiLo-Histo.ex4” indicator for MT4
Indicator Chart (EUR/USD M1)
The example chart below displays the Gann Forex 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 Gann Forex 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.
Gann Forex Scalper + SuperTrend NRP MT4 Intraday Strategy
This intraday strategy for MT4 combines the Gann Forex Scalper Indicator with the SuperTrend NRP Forex Indicator.
It is designed for traders looking to enter trades aligned with the prevailing trend while capturing short-term price movements.
The Gann Forex Scalper provides precise entry signals with green arrows for buy trades and red arrows for sell trades.
The SuperTrend NRP defines the trend: a green signal line indicates a bullish trend, while an orange line indicates a bearish trend.
Buy Entry Rules
- Confirm that the SuperTrend NRP line is green, indicating a bullish trend.
- Wait for the Gann Forex Scalper to plot a green arrow.
- Enter a buy trade at the open of the next candle after the green arrow appears.
- Place a stop loss below the most recent swing low or near the SuperTrend support level.
- Take profit at the next minor resistance, major resistance, or a fixed pip target, depending on volatility.
Sell Entry Rules
- Confirm that the SuperTrend NRP line is orange, indicating a bearish trend.
- Wait for the Gann Forex Scalper to plot a red arrow.
- Enter a sell trade at the open of the next candle after the red arrow appears.
- Place a stop loss above the most recent swing high or near the SuperTrend resistance level.
- Take profit at the next minor support, major support, or a fixed pip target, depending on volatility.
Advantages
- Combines trend-following with precise scalper entries for high-probability trades.
- Effective on intraday charts such as M5, M15, and M30.
- Helps avoid counter-trend trades by requiring the alignment of both indicators.
- Flexible take-profit placement allows scaling out positions to lock in profits.
Drawbacks
- Requires close attention for quick execution of intraday trades.
- Stop losses can be triggered by sudden spikes or news events.
- Less effective on very small timeframes with noisy price action.
- Frequent trading can increase transaction costs on some brokers.
Case Study 1: USD/JPY 5-Minute Chart
On the USD/JPY 5-minute chart, the SuperTrend NRP line was green, confirming a bullish trend.
Shortly after, the Gann Forex Scalper displayed a green arrow at 146.20.
A buy trade was entered with a stop loss at 146.00.
The price moved up to minor resistance at 146.50 and then extended to major resistance at 146.80, capturing 30–60 pips.
This demonstrates the strategy’s ability to capture short-term bullish moves.
Case Study 2: EUR/GBP 1-Minute Chart
On the EUR/GBP 1-minute chart, the SuperTrend NRP line turned orange, indicating a bearish trend.
The Gann Forex Scalper plotted a red arrow at 0.8725.
A sell trade was executed with a stop loss at 0.8735.
The price dropped to minor support at 0.8708 and extended to major support at 0.8695, securing 17–30 pips.
This example shows how the strategy can efficiently capture quick intraday declines.
Strategy Tips
- Trade major and liquid currency pairs to reduce spread costs and slippage.
- Focus on active trading sessions like London and New York for stronger momentum.
- Consider using multiple take-profit levels to secure profits incrementally.
- Confirm the overall trend on higher timeframes before entering intraday trades.
Download Now
Download the “GannHiLo-Histo.ex4” indicator for Metatrader 4
