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.
- 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.
USDJPY, EURGBP, USDCAD, USDCHF and AUDCHF .
Buy signal: the indicator arrow points upwards.
Sell signal: the indicator arrow points downwards.
- Period – indicator calculation period (main parameter).
- Alert – enable/disable alerts.
- Push – enable/disable sending messages to mobile phones.
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)