The High & Low Super Forex Scalper for Metatrader 5 scans the price chart for buying and selling trade opportunities that fits scalpers and day traders.
The indicator displays a buy and sell colored line on the price chart.
We are looking for 10-30 pips profit potential per trade.
Buy & sell trade logic:
- The green colored high & low scalper line is bullish.
- The red colored high & low scalper line is bearish.
The following indicator inputs and parameters can be adjusted to your needs: calculating period, style, colors.
How to increase your profit potential using this scalping tool?
- Use this scalping indicator on the low spread Forex pairs only (less spread costs).
- Deploy during the London and New York volatile trading sessions.
Make yourself familiar with this technical indicator and thoroughly test and evaluate it until you fully understand how it works.
It supports all time frames and Forex pairs.
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The following chart shows how the High & Low Super Forex Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The High & Low Super Forex Scalper Indicator?
Find a simple trading example below:
- A buy scalper signal is formed when the green signal gets displayed on the price chart.
- Open a buy market order and place a protective stop slightly below short-term support.
- Exit the buy trade for 10-30 pips profit target, or reverse the trade when a sell signal gets triggered on the chart.
- A sell scalper signal is formed when the red signal line gets displayed on the price chart.
- Open a sell market order and place a protective stop slightly above short-term resistance.
- Exit the sell trade for 10-30 pips profit target, or reverse the trade when a buy signal gets triggered on the chart.
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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 Hi-low mod.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