The free Wave Minor Forex Scalper indicator for Metatrader 4 is a directional trend indicator that provides excellent signals for scalpers and day traders alike.
The indicator appears in the form of a buy/sell oscillator in a sub-window chart.
Buying and selling pairs is utterly simple with this indicator.
Buy & Sell Trade Example
- A buy signal occurs when the colored trend bars cross the 0.00 level bottom-up.
- A sell signal occurs when the colored trend bars cross the 0.00 level top-down.
- Aim for 8-30 pips profit per trade.
The Wave Minor Forex Scalper indicator can be used for both trade entry and exit, or as an additional short-term trend filter for other strategies and systems.
For scalping, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “kg wave minor.ex4” indicator for MT4
Indicator Chart (EUR/USD M5)
The picture below shows the Wave Minor Forex Scalper mt4 indicator in action on the trading 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 (inputs tab), color settings & style
Indicator type: Scalping oscillator
Does the indicator repaint? No.
