The VHP Channel scalper indicator for Metatrader 5 is an excellent tool for pinpointing precise buy and sell entries and exits for scalpers.
Our trading approach is specifically tailored for scalpers and day traders, and may not be suitable for swing traders.
To determine the market trend using the VHP Channel, follow these guidelines:
- An upward sloping VHP Channel implies a bullish trend.
- A downward sloping VHP Channel indicates a bearish trend.
Moreover, the VHP Channel indicator offers a range of customizable inputs and parameters, such as HP fast period, HP slow period, and color schemes.
For optimal results, we strongly advise familiarizing yourself with this powerful scalper indicator and conducting extensive testing on a demo account over an extended period.
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The picture below illustrates how the VHP Channel scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs Using The VHP Channel Scalper Indicator?
Find a simple trading example below:
- The VHP channel must be sloping upward, signaling a bullish trend.
- Wait for the candle to retrace towards the lower brown channel line.
- Execute a buy trade and establish a stop-loss order just below the lower brown channel line.
- Exit the buy trade when the candle touches the upper brown channel line.
- The VHP channel must be sloping downward, signaling a bearish trend.
- Wait for the candle to rally back towards the upper brown channel line.
- Execute a sell trade and establish a stop-loss order just above the upper brown channel line.
- Exit the sell trade when the candle touches the lower brown 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 vhpchannel_02.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