The tool utilizes a dynamic overlay system, manifesting as a colored curved line that tracks price movements. This visual interface allows traders to distinguish between market phases instantaneously, ensuring clear entry and exit point determination.
You can download it from this link:https://cdn.tradingfinder.com/file/6...5-by-tflab.zip
You can also access the MetaTrader 4 version of this Indicator through this page:https://www.metalsmine.com/thread/13...dicator-on-mt4
For instructions on how to install:https://www.forexfactory.com/thread/...-in-metatrader
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100 Pips Today Scalper Indicator Specifications
- Indicator Categories: Currency Strength, Trading Assistants, and Momentum Indicators for MT5.
- Supported Platform: MetaTrader 5 (MT5).
- Target User Skill Level: Elementary to Professional.
- Indicator Types: Trend-Following and Reversal Detection.
- Timeframe Compatibility: Multi-Timeframe (MTF) functionality.
- Preferred Trading Style: Intraday Scalping and Day Trading.
- Tradable Instruments: Forex, Cryptocurrencies, and Global Stock Indices.
100 Pips Today Scalper Indicator Overview
The architectural core of the 100 Pips Today Scalper relies on intuitive visual cues. By utilizing a dual-color trend line and symbolic alerts, it simplifies complex market data into actionable intelligence.
- Blue Trend Line: Signifies a dominant Bullish (Upward) phase.
- Red Trend Line: Signifies a dominant Bearish (Downward) phase.
- Star Symbol (★): Acts as the primary execution trigger.
- "Buy" or "Down" Text: Provides verbal confirmation of the signal direction.
Indicator Application in Bullish Trends
When analyzing instruments such as the Dow Jones Index (DJI) on a 1-hour (H1) timeframe, the indicator excels at identifying momentum shifts. A bullish transition is confirmed when the primary trend line rotates from Red to Blue.
The system further validates the long position by printing the "Buy" label alongside the star symbol (★). This confluence of signals indicates a high-probability entry zone for upward-bound trades.
Indicator Application in Bearish Trends
On lower timeframes, such as a 15-minute (M15) chart for Bitcoin Cash (BCH/USD), the indicator demonstrates its efficiency in short-selling scenarios. A bearish reversal is identified when the main indicator line changes from Blue to Red.
Simultaneously, the star symbol (★) and the "Down" notification appear above the price candles. This serves as a definitive sell signal, marking the initiation of a downward market trajectory.
Configuration and Settings Analysis
The MetaTrader 5 settings panel for the 100 Pips Today Scalper allows for extensive customization to suit individual risk profiles and volatility requirements:
- BPERIOD & APERIOD: Adjustable calculation periods for fine-tuning trend sensitivity.
- aTake_Profit & aStop_Loss: Visual toggles for displaying projected target and risk levels.
- Signal Text Size: Customization of on-screen font dimensions for better visibility.
- Buy/Sell Signal Colors: Aesthetic adjustments for user-specific chart templates.
- Multi-Channel Alerts: Comprehensive notification suite including MT5 Alerts, Email integration, and Push Notifications.
- Message Timeout & Subject: Parameters to manage the duration and labeling of signal pop-ups.
Conclusion
The 100 Pips Today Scalper Indicator for MT5 stands as a robust solution for modern traders seeking to capitalize on intraday volatility. By integrating trend-following logic with immediate visual feedback—specifically through the color-coded line and the star symbol (★)—this tool enhances the decision-making process for both novice and experienced market participants. It effectively bridges the gap between complex algorithmic analysis and simplified execution.
