T3 Dragon Forex Scalper for Metatrader 4 is a powerful candlestick-based scalper indicator that identifies rapid changes in the trend.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
The signals appear on the main MT4 chart window as red and yellow colored candlesticks.
Buy & Sell Trade Example
- Open a buy position when the yellow candlesticks appear on the chart.
- Open a sell position when the red candlesticks appear on the chart.
- Close and reverse the open position when an opposite signal occurs on the chart.
The T3 Dragon Forex Scalper indicator can be used for both trade entry and exit or as an additional 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 “T3 Dragon 1.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the T3 Dragon Forex Scalper 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 when trading with this scalper 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.
T3 Dragon + SuperTrend NRP Forex Scalping Strategy
This strategy combines the T3 Dragon Forex Scalper Indicator for MT4 and the SuperTrend NRP Forex Indicator for MT4.
It is designed for scalpers operating on the M1 and M5 charts who need a crisp entry signal and trend-direction filter.
The T3 Dragon gives immediate candlestick-colour cues (yellow candlesticks = buy setup, red candlesticks = sell setup).
The SuperTrend NRP provides trend context via a coloured line (green line = buy trend, orange line = sell trend).
By entering when both tools align, you favour high-probability short-term trades.
Buy Entry Rules
- Wait for the first yellow candlestick to appear on the chart via the T3 Dragon indicator — this signals a potential buy setup.
- Check that the SuperTrend NRP line is green, confirming the market is in an upward trend.
- Enter a buy trade at the close of the yellow candlestick once both indicators agree.
- Set your stop loss just below the recent swing low: for M1 charts, 5-8 pips, and for M5 charts, 10-15 pips (adjust to pair/volatility).
- Set your take profit at 1.5× the stop loss distance or trail when the SuperTrend line flips orange or a red candlestick appears from T3 Dragon.
Sell Entry Rules
- Wait for the first red candlestick on the chart indicated by the T3 Dragon — this signals a potential sell setup.
- Confirm that the SuperTrend NRP line is orange, indicating a downward trend.
- Enter a sell trade at the close of the red candlestick once both tools align.
- Place your stop loss just above the recent swing high: for M1 charts, 5-8 pips, for M5 charts, 10-15 pips.
- Target a profit 1.5× the stop loss distance or exit when SuperTrend flips green or a yellow candlestick appears from T3 Dragon.
Advantages
- Clear, color-based rules make entries fast and decisive.
- The trend filter from SuperTrend helps avoid counter-trend scalps.
- Works on very short timeframes (M1/M5), allowing multiple opportunities per session.
- Defined risk per trade via stop loss and take profit use.
- Visual simplicity helps maintain discipline in a fast-moving market.
Drawbacks
- A very short timeframe means many trades and high monitoring — it can be exhausting.
- High spread or slow execution greatly reduces profitability on M1/M5 trades — broker choice matters.
- Targets are relatively small, so consistent execution and discipline are required to build meaningful returns.
Example Case Study 1 – EURUSD M1
During the London session on EURUSD M1, the T3 Dragon indicator produced a yellow candlestick at 1.11525 as the price pulled back slightly in an up-move.
At the same moment, the SuperTrend NRP line was green, confirming an upward trend.
A buy trade was entered at 1.11530 with a stop loss of 6 pips below at 1.11524 and a take profit target of 9 pips at 1.11539.
Within 7 minutes, the price moved to 1.11540, and the trade was closed for a 9-pip profit.
Example Case Study 2 – USDJPY M5
On the USDJPY M5 chart shortly after the New York open, a red candlestick appeared via T3 Dragon at 149.85 while the SuperTrend NRP line had turned orange, signalling a downtrend.
A sell trade was entered at 149.82 with a stop loss 12 pips above at 149.94 and a take profit target of 18 pips at 149.64.
Over the next 20 minutes, the pair dropped to 149.6,3 and the trade closed with a 19 pip gain.
The downward trend held throughout, allowing the scalp to play out cleanly.
Strategy Tips
- Use the strategy primarily on pairs that are trending on higher timeframes (H1 or H4) to increase the probability of success on M1/M5 charts.
- Keep an eye on spread changes; avoid trading during news announcements when spreads widen and slippage can occur.
- Limit the number of trades per session to avoid overtrading; the quality of setups is more important than quantity.
- Consider taking partial profits when the trade reaches half of the target, then move the stop loss to break-even to protect gains.
- Stay disciplined and avoid trading out of boredom; only take trades that meet all criteria.
The T3 Dragon + SuperTrend NRP MT4 scalping strategy gives a structured framework for very short-term trading with defined entry/exit rules and trend alignment.
As always, practice on demo until you’re comfortable, apply strict risk management, and adjust to your broker’s conditions and trading style.
