The LeMan Stop indicator for Metatrader 5 is a solid Forex scalper tool that identifies rapid trend changes for any currency pair and time frame.
It can generate up to 10 trading signals daily for any currency pair when applied to the lower time frames.
We aim for 6-15 pips profit per transaction, or you can use your favorite take profit target.
How to trade with the LeMan Stop indicator?
- A green signal line represents a bullish market trend.
- A red signal line represents a bearish market trend.
The following indicator inputs and parameters can be modified: period, fast MA period, slow MA period, fast MA method, slow MA method.
The London and New York trading sessions work the best for this indicator when applied to the M1, M5, and M15 trading charts.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
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Chart Example
The following chart shows how the LeMan Stop indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The LeMan Stop Scalper Indicator?
Find a simple trading example below:
Buy Signal
- The appearance of the green colored LeMan stop line is a buy scalper signal.
- Open a buy trade and place the initial stop loss below immediate support.
- Exit the buy trade for 6-15 pips profit.
Sell Signal
- The appearance of the red colored LeMan stop line is a sell scalper signal.
- Open a sell trade and place the initial stop loss above immediate resistance.
- Exit the sell trade for 6-15 pips profit.
