What is Scalping?
Scalping when trading Forex or CFD’s is a trading style that involves looking for fast profits when price makes small changes.
This type of trading requires strict trading rules with clear entry, exit and stop loss parameters.
Having the best tools and indicators when scalping can give you a major edge in the market.
In this post we look at the best scalping indicators for MT4 and MT5 that will help you find and also manage trades quickly and efficiently.
What Time Frames to Scalp Trade on?
When scalping you are looking to get in and out of your trades quickly making profits from the quick price movements.
Instead of holding a trade for days or weeks, scalping is carried out on the smaller time frames.
The most common time frames used for scalping are the 1 minute to the 15 minute time frame.
The reason these are the most popular time frames is because they are making fast movements and giving you more opportunities to find trades.
Scalping Indicator for MT4
This scalping indicator by ‘Trend Following Systems’ can be used on all currency pairs and time frames.
When applied to your chart you will see this indicator adds a separate oscillator window that gives you simple buy and sell entries.
The oscillator buy and sell entries are straightforward to read and easy to interpret.
For a buy signal the oscillator moves into positive territory. If the next candle closes bullish this can be seen as a potential long entry. The opposite is true for a sell signal.
You can read a more in-depth description on how to use this indicator and download the Free MT4 Scalping Indicator here.
Trend Scalper Indicator MT4
This is a free MT4 Trend Scalping indicator from MT5 Traders.
It is designed for finding and making short-term scalp trades on any pair or time frame of your choosing.
This indicator is created from the T3 Forex indicator and can be used from the 1 minute time frame through to the 1 month time frame.
This simple indicator gives you easy to read buy and sell signals;
- Blue dot signals a potential buy trade.
- Red dot represents a potential sell trade.
You can read a more in-depth description on how to use this indicator and download the Free MT4 Trend Scalper Indicator here.
Scalping Indicator for MT5
Trend Scalper Indicator MT5
This is a free MT5 trend scalping indicator at Forex MT4 indicators.
This is another indicator that uses an oscillator to show you buy and sell signals.
You will be able to see when price moves into either overbought or oversold conditions.
Potential buy trades are when the line moves higher above the zero level.
Potential sell trades are when the line moves below the zero level.
You can read a more in depth description on how to use this indicator and download the Free MT5 Trend Scalping Indicator here
Note: Don’t know how to install and use these indicators? Read How to Download, Install and Use MT4 and MT5 Indicators.
Whilst these indicators will often give you quality buy and sell signals that are easy to decipher and then execute, you can often enhance their probability.
This can be done by adding confirmation to the signals with your other favorite technical analysis tools and indicators.
This may include using things like moving averages, trendlines, Bollinger Bands or candlestick patterns.
Lastly, always make sure you test any new trading strategies on good demo charts before you ever risk real money.