Scalper X2 is a Forex indicator for Metatrader 4 that identifies buy & sell trade opportunities throughout the various trading sessions.
Scalper X2 works for any time frame of your preference and does not repaint its signals.
The signals appear on the main MT4 chart window in the form of green and red colored signal arrows.
Buy & Sell Trade Example
- Open a buy position when the green arrow gets printed on the chart.
- Open a sell position when the red arrow gets printed on the chart.
- Close the open trade when an opposite signal arrow gets displayed on the chart.
The Scalper X2 indicator can be used for both trade entry and exit or as an additional short-term trend filter.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Scalper X2.ex4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Scalper X2 mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Scalper X2 Forex 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.
Scalper X2 + Forex Trend Filter MT4 Scalping Strategy
This MT4 scalping strategy combines the Scalper X2 Forex Indicator with the Forex Trend Filter Indicator.
It is tailored for short-term, high-frequency trading across major pairs such as EUR/USD, GBP/USD, AUD/USD, and USD/CHF.
The idea is to enter quickly when a clear arrow signal appears and only when the histogram trend filter confirms the direction.
Because we’re scalping, we use small profit targets and tight risk controls.
The Scalper X2 shows a green arrow for a buy signal and a red arrow for a sell signal.
The Forex Trend Filter displays a histogram: blue bars indicate a bullish trend, red bars indicate a bearish trend.
By trading only when both signals align, we aim to reduce false entries and increase the probability of success.
Buy Entry Rules
- Wait for a green arrow from the Scalper X2 indicator to appear on the chart.
- Confirm that the histogram of the Forex Trend Filter is blue, indicating a buy trend.
- Enter a buy position immediately after the arrow appears and the histogram is blue.
- Place a stop loss a few pips below the recent swing low or below the arrow candle low.
- Set a take profit target of around 10-20 pips on timeframes like M1 or M5, or 20-30 pips on M15.
- Exit early if the histogram turns red, indicating the trend may be reversing.
Sell Entry Rules
- Wait for a red arrow from the Scalper X2 indicator to appear on the chart.
- Confirm that the histogram of the Forex Trend Filter is red, indicating a sell trend.
- Enter a sell position immediately after the arrow appears and the histogram is red.
- Place a stop loss a few pips above the recent swing high or above the arrow candle high.
- Set a take profit target of around 10-20 pips on M1 or M5, or 20-30 pips on M15.
- Exit early if the histogram turns blue, signaling the trend may reverse.
Advantages
- Simple visual cues: an arrow plus a color histogram make signal identification fast.
- Designed for scalpers: many trades possible with small targets and tight stops.
- Combining arrow signals with trend-filter reduces noise and false signals.
- Works across several major currency pairs, giving diversification of setups.
- Good for active traders who prefer high activity and frequent entries.
Drawbacks
- High frequency means higher transaction cost relative to each trade, especially on wider-spread pairs.
- In very quiet or ranging markets, the histogram may flip often, and arrows may generate many false entries.
- Scalping demands constant focus and fast execution; it may be stressful for casual traders.
Example Case Study 1: GBP/USD M5 Chart
During the New York session, GBP/USD printed a green arrow from Scalper X2 at 1.2850.
At the same moment, the Forex Trend Filter histogram turned blue.
A buy entry was taken at 1.2852, stop loss placed at 1.2837 (15 pips risk), take profit target set at 1.2872 (20 pips).
The trade hit the target within 30 minutes.
Example Case Study 2: USD/CHF M1 Chart
On the USD/CHF pair one afternoon, a red arrow appeared at 0.9245 signaling a sell setup.
The histogram was red on the Forex Trend Filter at the same time.
A sell trade was opened at 0.9244, stop loss at 0.9260 (16 pips), take profit at 0.9224 (20 pips).
Within 12 minutes, the target was reached. The strategy captured a fast move with minimal drawdown.
Strategy Tips
- Focus on high‐liquidity currency pairs like EUR/USD, GBP/USD, AUD/USD, and USD/CHF for tighter spreads and less slippage.
- Use the strategy during active market sessions (London or New York) when volatility is higher.
- If the histogram is flat or changing color frequently, skip the trade—this signals a choppy market.
- Keep risk per trade small (e.g., 0.5-1% of account) because scalping has many trades and each risk builds up.
By linking the arrow signals of the Scalper X2 indicator with the trend confirmation of the Forex Trend Filter, this MT4 scalping strategy provides a disciplined and repeatable method for short‐term trading.
With the right mindset, risk management, and pair selection, you can aim for consistent results in fast market conditions.
