The Scalper MA indicator is scalping accessible to everyone.
Your success in trading the Forex market largely depends on the right tactics.
Scalping is the most popular method due to its high profitability and speed of achieving results. However, applying skills on a fast-moving volatile instrument is not so simple, despite the various strategies that are so actively distributed throughout the Internet space.
Almost all novice traders try to scalp, chasing quick profits, while they do not even understand what moves the price, how it reacts to various economic and political indicators.
Even the pros try to avoid scalping , because its whole essence is based on the fact that you make money on market noise, and do not trade according to the global trend. It is quite difficult to predict the movement of market noise based on fundamental indicators, so technical indicators are indispensable assistants, without which it is difficult to imagine a scalper.
The Scalper MA indicator is a technical indicator whose main task is to provide signals to enter a position for a scalper. Scalper MA is used on the five-minute and one-minute charts on any currency pair.
The peculiarity of the indicator is that it was created specifically for beginners and shows the entry point into the market using an up or down arrow. The indicator is created on the basis of a simple moving average, so the use of this tool is nothing new, since moving averages have been used for this type of trading for decades.
Before starting work, the indicator must be copied to a folder called indicators, which you can get to through the file menu by launching the data directory. You can download the indicator itself at the end of the article. After restarting the terminal, go to the list of custom indicators and drag the Scalper MA onto the five-minute chart of the currency pair you want to trade. After installing the indicator on the chart, it will look like this:
As you can see on the chart, the indicator draws candles above and below the price in blue and red, and arrows appear when the color changes. Those who have been working in the market for more than one year have probably noticed that it is very similar to the Heiken Ashi , and its principles of use are the same. If we talk about the signals that the indicator gives us, we enter a buy position when a blue up arrow appears, and a sell position when a red down arrow appears. You can see an example in the picture below:
Exit from a position occurs at a clearly defined profit or when a signal appears in the opposite direction. Remember, no single indicator can work profitably for a long time alone, so it needs to be supplemented with some kind of filter to form a simple trading strategy.
The indicator is also used as a trend filter, entering positions only for purchases if the indicator candle is blue, and for sales if the candles are red. However, it is used as a filter only if you use another instrument as a signal indicator.