The Waddah Attar Explosion MTF indicator for MT4 measures market acceleration and shows you exactly when it’s time to enter and exit Forex trades.
The indicator appears as a colored bar histogram in the bottom chart of Metatrader 4 and comes with a multiple time frame (MTF) input function.
In essence, the indicator will help you in taking informed buy/sell trading decisions.
Buy & Sell Trade Example
- A buy signal is given when the first green histogram bar appears on the chart.
- A sell signal is given when the first red histogram bar appears on the chart.
Feel free to experiment with the indicator’s default input values.
The indicator is also available for MetaTrader 5 and can be downloaded here.
The Waddah Attar Explosion MTF indicator can be used as a standalone signal indicator or together with an existing trading system of your preference.
Free Download
Download the “waddah attar explosion mtf.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The picture below shows the Waddah Attar Explosion MTF mt4 indicator attached to the EUR/USD M15 chart.
Trading Tips:
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 (sound ON), color settings & style
Indicator type: Forex signals
Waddah Attar Explosion + Flat Trend RSI Forex Scalping Strategy for MT4
This day‐trading scalping strategy for MT4 combines the Waddah Attar Explosion MTF Indicator and the Flat Trend RSI Indicator for MT4 on very short time-frames (M1, M5, M15).
It is designed for active traders looking for rapid entries and exits.
The first indicator gives momentum & volatility “explosion” signals (green histogram for buys, red for sells).
The second indicator confirms the trend bias with a coloured histogram (blue for buy trend, red for sell trend).
Because the approach is scalping, it is suitable for liquid major currency pairs during active sessions (London/New York), with positions kept short and tight.
It works best when you monitor an M1 or M5 chart for entry, and optionally examine an M15 chart for trend context.
Buy Entry Rules
- On the M5 chart, see the Flat Trend RSI histogram turn blue (indicating buy trend bias).
- The Waddah Attar histogram prints a green bar (first green bar after red or after flat), indicating a buy momentum shift.
- Enter a long (buy) trade at the close of that bar showing the green Waddah bar.
- Place the stop-loss a few pips below the recent small swing low (for example, 5-10 pips on M5; you may reduce to 3-5 pips on M1 if volatility is low).
- Set a take‐profit target of roughly 1.0 to 1.5 times the stop‐loss distance.
- Or trail as the Waddah histogram begins to shrink or change colour (i.e., green bar turns shorter or a red bar appears).
Sell Entry Rules
- On the M5 chart, confirm the Flat Trend RSI histogram turns red (indicating sell trend bias).
- On the same M5 chart, wait for the Waddah Attar histogram to print the first red bar (after green or flat), signalling a sell momentum shift.
- Enter a short (sell) trade at the close of that red-histogram bar.
- Place the stop‐loss a few pips above the recent small swing high (again, e.g., 5-10 pips on M5; 3-5 pips on M1 if used).
- Target a take‐profit of about 1.0 to 1.5× stop‐loss size.
- Or exit when the Waddah histogram begins to shorten or a green bar appears.
Advantages
- Fast entries suitable for scalping short time-frames (M1, M5, M15).
- Dual-confirmation: momentum (Waddah) + trend bias (Flat Trend RSI) helps reduce false entries.
- Works well in high-volume sessions when markets move rapidly.
Drawbacks
- Requires active monitoring and quick decision making (scalping demands discipline).
- The indicators may generate false signals in choppy, noisy periods—so additional discretion is needed.
Example Case Study 1 – USD/JPY on M5
During the New York session, the Flat Trend RSI histogram turned blue on the USD/JPY M5 chart around 109.45, indicating buy bias.
Shortly after, the Waddah Attar histogram printed a first green bar at 109.46.
A buy trade was entered at 109.46 with a stop loss at 109.39 (7 pips) and a take-profit at 109.57 (11 pips 1.6×).
The move extended to 109.60 before a red Waddah bar appeared, and the trade was exited for +14 pips.
The combination confirmed momentum and trend bias for a quick scalping gain.
Example Case Study 2 – AUD/USD on M1
The Flat Trend RSI on AUD/USD M1 shifted red at 0.6730, setting a sell bias.
The Waddah Attar then printed its first red histogram bar at 0.6730.
A sell trade was placed at 0.6730 with a stop loss at 0.6734 (4 pips) and a take‐profit at 0.6724 (10 pips ≈2.5×).
Price swiftly dropped to 0.6722 before retracing; the trade was closed early for +12 pips when the Waddah histogram shortened significantly.
A crisp scalping win thanks to quick momentum and trend alignment.
Strategy Tips
- Use lower spread pairs during active sessions (majors like EUR/USD, GBP/USD, USD/JPY, AUD/USD) to maximise scalping efficiency.
- Avoid trading when major news releases are upcoming (spikes and whipsaws increase risk).
- On the M1 chart, tighten stop-loss and take-profit settings; allow slightly wider stop and target on the M15 to accommodate more volatility.
- Prefer trades where the Waddah histogram has just flipped colour (fresh first green or red bar) rather than when many bars have already occurred. This tends to capture early momentum.
- Use the Flat Trend RSI as a filter – if bias is blue but Waddah prints red, skip. If bias is red but Waddah prints green, skip. Only trade matched direction.
- Keep a small number of trades a day (scalping frequency can tempt over-trading). Quality over quantity.
This scalping strategy, combining the Waddah Attar Explosion MTF Indicator and the Flat Trend RSI Indicator, is well-suited for short-term trading on MT4.
As always, test on a demo account first and adapt to your risk tolerance.
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Download the “waddah attar explosion mtf.mq4” indicator for Metatrader 4
