The Scalper MA indicator is scalping accessible to everyone.
Your success in forex trading depends largely on choosing the right tactics. Scalping is the most popular method due to its high
profitability and speed of achieving results. However, applying these skills to a fast-moving, volatile instrument is not always easy, despite the various strategies widely circulated online.
Almost all novice traders try to scalp, chasing quick profits, without even understanding what drives the price or how it reacts to various economic and political indicators.
Even professionals try to avoid scalping , as its entire essence is based on profiting from market noise rather than trading in line with global trends. Market noise movements are quite difficult to predict based on fundamental indicators, so technical indicators are indispensable tools, and it's hard to imagine a scalper without them.
The Scalper MA indicator is a technical indicator whose primary purpose is to provide position entry signals for scalpers. The Scalper MA can be used on five-minute and one-minute charts for any currency pair.
The indicator's unique feature is that it's designed specifically for beginners and displays the market entry point using an up or down arrow. The indicator is based on a simple moving average, so using this tool is nothing new, as moving averages have been used for this type of trading for decades.
Before you begin, you need to copy the indicator to a folder called indicators, which you can access through the File menu by opening the data folder. You can download the indicator itself at the end of this article. After restarting the terminal, go to the list of custom indicators and drag Scalper MA to 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 trading for years have probably noticed that it is very similar to the Heiken Ashi , and its principles of application are the same. Regarding the signals the indicator provides, we enter a buy position when a blue upward arrow appears, and we enter a sell position when a red downward arrow appears. You can see an example in the image below:
The position is exited at a clearly defined profit level or when a signal in the opposite direction appears. Remember, no single indicator can be profitable for long periods of time, so it must be supplemented with some kind of filter to create a simple trading strategy.
The indicator is also used as a trend filter, entering buy positions only if the indicator candle is blue, and sell positions if the candle is red. However, it is only used as a filter if you are using another indicator as a signal.
