The Plombiers Channel scalper indicator for Metatrader 5 provides fantastic scalping signals using clear trade entries, stop losses and take profit targets.
Our trading approach is specifically tailored for scalpers and day traders, and may not be suitable for swing traders.
This indicator consists of a trading channel with a blue-colored middle line and two outer green lines.
To determine the market state using this indicator, you can follow these guidelines:
- An upward sloping Plombiers channel indicates a bullish trend.
- A downward sloping Plombiers channel indicates a bearish trend.
The indicator includes various inputs and parameters such as data length, curve’s order, show oscillator, averaging method, Stochastic price value, and more.
We recommend familiarizing yourself with this technical indicator and conducting thorough testing on a demo account over an extended period of time.
The Plombiers indicator can be effectively combined with any trading strategy to confirm trends or utilized as a powerful standalone scalping tool.
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The image below illustrates how the Plombiers Channel Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Trading Instruments With The Plombiers Channel Scalper Indicator?
Find a simple trading example below:
- Buy market condition: the Plombier trading channel should show a clear upward slope (bullish).
- Wait for the price to retrace back towards the lower green channel line.
- Execute a buy trade and set a stop below the gray dashed lower line.
- Exit the buy scalper trade when the candle touches either the blue middle line or upper green channel line.
- Sell market condition: the Plombier trading channel should show a clear downward slope (bearish).
- Wait for the price to rally back towards the upper green channel line.
- Execute a sell trade and set a stop above the gray dashed upper line.
- Exit the sell scalper trade when the candle touches either the blue middle line or lower green channel line.
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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 plombiers.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