The Super Signal V3 forex indicator follows the trend and draws buy (green) and sell (yellow) arrows on the Metatrader 4 chart.
Super Signal works for any currency pair (majors, cross pairs, exotics) and time frame.
Use in conjunction with other trading tools to generate more reliable trading signals.
For instance, use together with the 100-period exponential moving average or ADMI.
Scalpers and day traders will most likely benefit from the Super Signal forex indicator.
Use during the London and New York trading sessions.
Free Download
Download the “Super Signal v3d.ex4” MT4 indicator
Indicator Chart (GBP/USD M5)
The GBP/USD 5-Minute chart below displays the Super Signal Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Super Signal V3 MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Initiate a long trade when a green arrow appears on the activity chart.
Sell Signal: Initiate a sell trade when a yellow arrow appears on the activity chart.
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
Super Signal V3 + Supertrend MTF Forex Scalping Strategy for MT4
This MT4 scalping strategy combines the arrow signals of the Super Signal V3 indicator with the trend direction filter of the Supertrend MTF Forex Signal Indicator.
Super Signal V3 shows a green arrow for a buy signal and a yellow arrow for a sell signal.
The Supertrend MTF indicator draws a green trend line for bullish trends and a red trend line for bearish trends.
By combining these tools you can capture small intraday moves with higher probability.
This strategy works best on short timeframes such as M1, M5 and M15 and is suitable for traders who monitor the charts actively and prefer quick scalping trades.
Buy Entry Rules
- Supertrend MTF must show a bullish trend with a green line.
- Wait for a green arrow from Super Signal V3.
- Enter a long trade when the arrow appears at candle close while trend remains bullish.
- Place a stop loss a few pips below the recent swing low or below the candle low.
- Take profit at a small target such as 5 to 10 pips or exit when a yellow arrow appears or the Supertrend line turns red.
Sell Entry Rules
- Supertrend MTF must show a bearish trend with a red line.
- Wait for a yellow arrow from Super Signal V3.
- Enter a short trade when the arrow appears at candle close while the trend remains bearish.
- Place a stop loss a few pips above the recent swing high or above the candle high.
- Take profit at a small target such as 5 to 10 pips or exit when a green arrow appears or the Supertrend line turns green.
Advantages
- Clear entry signals with arrow confirmation and trend filter.
- Scalping friendly with quick entries and exits.
- Works on most major currency pairs and short timeframes.
- Combines momentum and trend to reduce false signals.
Drawbacks
- Spread and slippage may reduce profits on small moves.
- Requires active monitoring and cannot be left unattended.
Case Study 1: EUR/USD on M5 Buy
During the London session, EUR/USD was in a clear uptrend according to Supertrend green line.
At 10:17, Super Signal V3 drew a green arrow at 1.10235. Trend remained green.
A long trade was entered at 1.10238. Stop loss was set at 1.10220.
Target was 17 pips. Price moved to 1.10238 + 0.0017 = 1.10408.
Trade closed for +17 pips.
Later a yellow arrow appeared confirming the exit.
Case Study 2: GBP/JPY on M5 Sell
GBP/JPY was trending downward according to Supertrend red line.
At 14:03, Super Signal V3 showed a yellow arrow at 158.45. Trend remained red.
A short trade was opened at 158.44. Stop loss was set at 158.62.
Target was 12 pips. Price dropped to 158.32 and trade was closed for +12 pips.
The Supertrend line stayed red, confirming trend direction.
Strategy Tips
- Combine signals with overall market direction: check higher timeframes for trend alignment to improve accuracy.
- Avoid trading during major economic news releases as volatility can trigger false arrows and sudden trend flips.
- Prefer pairs with low spreads during scalping sessions to protect small profits from being eaten by costs.
- Use trailing stops when price moves quickly in your favor to lock in profits without manually exiting.
- Do not enter trades just because an arrow appears; wait for Supertrend line confirmation and price action near support or resistance.
- Limit the number of simultaneous trades to avoid overexposure, especially on lower timeframes.
- Regularly backtest and demo the strategy before trading live to understand typical pip ranges for each pair.
Download Now
Download the “Super Signal v3d.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Distance, AlertsOn, Sound Alert, Alerts Email, Alerts Message) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Trend Arrows
