Forex Magic Arrow Scalper MT4 Indicator

Forex Magic Arrow Scalper MT4 Indicator:

About the Forex Magic Arrow Scalper MT4 Indicator

The  Magic Arrow Scalper  sorts out low-probability signals in a trading strategy. The indicator uses a sophisticated filtration algorithm based on the market sentiment and trend. The indicator displays arrows on a chart (see attached screenshots) indicating a likely price reversal.

Magic Arrow Scalper is not repainted. Once the candle is closed, a signal is confirmed and will never disappear from a chart.

You can setup alerts when new arrows are displayed on a chart.

The indicator is not designed for scalping. It is best to be used on higher timeframes: M15, M30, H1, H4.

Advantages

  • Generates minimum false signals.
  • Suitable for beginners and experienced traders.
  • Simple and easy indicator configuration.
  • Works on all timeframes.
  • Works on any financial instrument.
  • No repainting.
  • Sending signals to email and mobile devices.

Recommended symbols

USDJPY, EURGBP, USDCAD, USDCHF and AUDCHF .

Usage tips

Buy signal: the indicator arrow points upwards.

Sell signal: the indicator arrow points downwards.

Parameters

  • Period – indicator calculation period (main parameter).
  • Alert – enable/disable alerts.
  • Push – enable/disable sending messages to mobile phones.

Test results:

Forex Magic Arrow Scalper MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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