The Elite PRO 2.0 Scalper Indicator is a powerful trading tool for MetaTrader 4 (MT4), designed to help traders identify buy and sell opportunities in the Forex market.
It is particularly effective for scalping, a trading strategy focusing on making quick, small profits by frequently entering and exiting trades.
The indicator generates highly accurate, non-repainting signals through arrows:
Blue arrows indicate a buy signal, while red arrows indicate a sell signal.
The simplicity of its design makes it easy for traders of all levels to use and implement in their daily trading routine.
Download Now:
⬇️Download the Elite PRO 2.0 Scalper indicator here
File name: ElitePRO Scalper.ex4
This indicator is easy to install and works seamlessly on MT4.
Once you have downloaded the file, move it to your MT4 “Indicators” folder and restart the platform to start using it immediately.
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Indicator Chart:
Take a look at the chart below, where the indicator is plotted.
As you can see, it uses color-coded arrows to mark trading opportunities.
The blue arrows are buy signals, while the red arrows indicate sell signals.
These signals appear at critical moments when the market shows potential for quick scalping trades.
Whether you’re trading on a 5-minute chart or a longer timeframe, these signals will give you a clear direction to trade.
Buy and Sell Trade Logic:
The Elite PRO Scalper 2.0 simplifies trading by providing clear buy and sell signals.
Here’s how you can use these signals to make profitable trades:
Buy Rules:
- Signal: A blue arrow appears on the chart, indicating a bullish trend. This is your signal to go long (buy).
- Entry: Enter the trade immediately after the blue arrow appears. For confirmation, wait for the candle to close in the same direction as the arrow.
- Stop Loss: Place your stop loss just below the recent swing low. This ensures that your risk is limited in case the trade goes against you.
- Take Profit: Aim for a profit of 5 to 15 pips, or hold the trade until the red arrow (sell signal) appears, indicating a reversal in the trend.
Sell Rules:
- Signal: A red arrow appears on the chart, indicating a bearish trend. This is your signal to go short (sell).
- Entry: Enter the trade immediately after the red arrow appears. Again, wait for the candle to close in the same direction as the arrow for confirmation.
- Stop Loss: Place your stop loss just above the recent swing high to protect your trade from potential losses.
- Take Profit: Like with buy trades, target a profit of 5 to 15 pips, or exit the trade when the blue arrow (buy signal) appears.
These rules are designed to help you quickly enter and exit trades, capitalizing on small market movements—perfect for scalping.
The clear signals and simple rules eliminate much of the guesswork, allowing for a more disciplined trading approach.
Download The Indicator:
⬇️Download the Elite PRO Scalper Indicator now
File name: ElitePRO Scalper.ex4
Indicator Settings:
The indicator comes with customizable settings that allow traders to fine-tune it based on their preferences.
These settings make it versatile for different trading styles and timeframes.
- Alerts: The indicator comes with built-in alert notifications. You can receive notifications via on-screen alerts, mobile push notifications, or emails. This ensures that you won’t miss any trading opportunities, even when you’re away from your trading platform.
- N-Bars: This setting lets you adjust the number of bars used in the indicator’s calculation. By experimenting with different values, you can optimize the indicator’s performance based on your chosen currency pairs and trading style.
- Color Settings: Traders can change the colors of the buy and sell arrows to match their chart’s theme. This small customization option makes the chart more visually appealing and easier to interpret.
Interesting Combinations:
One of the advantages of the Elite PRO 2.0 Scalper indicator is that it can be effectively combined with other popular Forex indicators to increase accuracy.
One particularly powerful combination is with the Exponential Moving Average (EMA), which helps filter out false signals and confirms trends.
Buy Entry with EMA Combination:
- A blue arrow from the Elite PRO Scalper appears, signaling a buy opportunity.
- The price is trading above the EMA, confirming that the market is in an uptrend.
- Enter the long position after both conditions are met.
Sell Entry with EMA Combination:
- A red arrow from the Elite PRO Scalper appears, signaling a sell opportunity.
- The price is trading below the EMA, confirming that the market is in a downtrend.
- Enter the short position after both conditions are met.
Combining this tool with an EMA provides an additional layer of confirmation, increasing the likelihood of successful trades.
You can also experiment with other indicators like the Relative Strength Index (RSI) or the Moving Average Convergence Divergence (MACD) to enhance your strategy further.
FAQ:
1. Is the Elite PRO Scalper Indicator beginner-friendly?
Yes, the simplicity of its buy and sell signals makes it suitable for traders of all experience levels, including beginners.
2. Can I use this indicator on any currency pair?
Absolutely! The Elite PRO Scalper works on all currency pairs. However, it is especially effective with high-volatility pairs such as EUR/USD and GBP/USD.
3. Does the indicator repaint?
No, the Elite PRO Scalper is a non-repainting indicator. This means that once a signal is generated, it stays fixed and does not adjust based on future price action.
4. Which timeframes work best for this indicator?
The indicator works on all timeframes, but it is particularly effective on lower timeframes such as 5-minute or 15-minute charts, which are ideal for scalping strategies.
5. Can I use the Elite PRO Scalper Indicator with other tools?
Yes, it can be combined with other indicators like EMAs, RSI, or MACD to enhance its accuracy and improve trade entries.