The Zero Point Force indicator for Metatrader 5 is a super scalping tool composed of moving averages and volume.
The trading signals appear in a sub chart window as green and orange colored clouds.
Essentially, the indicator identifies short-term trends and it should work great if you are looking for small profits ( 7-20 pips profit target).
How does the indicator work?
- The green colored Zero Point Force cloud signals a buy trade.
- The orange colored Zero Point Force cloud signals a sell trade.
The following indicator inputs and parameters can be modified: fast MA period, method, slow MA period, volume smoothing period, volume smoothing method.
In order to maximize potential profits, use the indicator on the lower spread Forex pairs.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
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The following chart shows how the Zero Point Force indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Zero Point Force Scalper Indicator?
Find a simple trading example below:
- A buy signal occurs when the green colored Zero Point Force cloud appears in the chart.
- Open a buy order and place a stop loss slightly below short-term support.
- Exit the buy trade for a potential 7-20 pips profit target.
- A sell signal occurs when the orange colored Zero Point Force cloud appears in the chart.
- Open a sell order and place a stop loss slightly above short-term resistance.
- Exit the sell trade for a potential 7-20 pips profit target.
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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 ZPF.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