August 21, by Dominic Walsh Leave a Comment. This is a scalping indicator. It is designed to make the scalping life simpler for the forex. It is easy to interpret and use. Since it is a scalping indicators, it should be used with a tighter timeframe. However you can use it with other time frames but you will not be scalping then. It us for use on all the currency pairs. The indicator is programmed to form scalper showing the trend at the very specific moment. The dots can either be yellow or brown in color.
The yellow dots shows an uptrend while ultimate brown dots shows a down trend. The yellow dots are formed below the bars or candlesticks while the brown dots are formed above the bars r candlesticks. However, the trader has the freedom to change the colors of the dots as he or she wishes.
You just have to click at any of the dots and go to the color button in the custom indicator configuration pop up window. Then double click at any of the colors that you want to change and then select the color that you desire to use. The Forex Ultimate Scalper Indicator loaded on the main chart.
The above chart show using the Forex Ultimate Scalper Indicator with the H1 timeframe. If you look at the chart above you will notice that the indicator is very precise when it comes to indicating the trend of the market. The indicator also does not repaint. The efficiency of this indicator does not change with the timeframe. Even when the scalper chooses to use a tighter timeframe, the indicator will still be as effective as usual.
Using the Forex Ultimate Scalper Indicator with a M15 timeframe. What happens when the trader uses a tighter timeframe the rate at which ultimate indicator gives the scalper. If you look at the above chart, you will notice that the indicator becomes very sensitive giving signals even for the slightest market trend changes.
Using this indicator is one of the simplest thing. This indicator is actually designed for use even to the very beginners of the forex trading. The trader only have to take not of the color changes of the dots.
The trader should place a buy order when forex color of the dots changes from brown to yellow. The trader should place a sell order when the color of the dots changes from yellow to brown. Open demo account to test this system. Download Forex Ultimate Scalper Indicator. Free Metatrader Indicators Tagged With: Your email address will not be published.
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