From the name itself the indicator is designed to help market scalpers when trading. With this indicator you can either choose to use the indicator and load it on the currency pair of your choice at the choice of your time frame or choose to use a default template that is designed for this indicator. The only difference will be the background color and the sound alerts. The template also tends to condense the chart enabling the trader to visualize what has been happening to the market over the past time.
Now let get to explaining what happens behind the scenes!
The main aim of this indicator is to detect the current market price trend. The indicator is able to detect trend over very short time intervals making it a best fit for the Forex scalpers. The efficiency of this indicator is 95 to 99% and it doesn’t repaint.
If you insert this indicator on the chart without using its template the indicator will work just as it is supposed to work. The only thing will be that the background and all the other settings of the trading chart will remain as set by the trader. This means that if the trader was using another indicator and loaded inserted this indicator, then the previous indicator will still be seen on the chart. This is the best way to use the Market Scalper PRO 5-5 Indicator when you want to confirm a trend that is given by other indicators.
Fig.1. The Market Scalper PRO 5-5 Indicator used wthout its template.
On the other hand when you use the indicator’s template, all the other things that you had inserted onto your trading chart will be done away with and only the template will be visible. However if you want to add other indicators to the template you can add by just inserting them in the normal way that you insert any other indicator.
Fig.2. The Market Scalper PRO 5-5 Indicator template explained.
The indicator both when used without its template and when used with its template displays a green box on the top right corner. The box has three sections with the top most showing the ratio of the neutral to the trending prediction and the other two showing whether the trend is bullish or bearish.
The other thing that is displayed by this indicator is the name of the indicator above the box and at the bottom left corner. Other than this, the rest of the trading chart is left free making it a perfect indicator to be used with other indicators since it leave enough space for the other indicators to display their information in.
The indicator also displays red and green arrow which shows the general trend of the market prices. These are not used when scalping.
Trading using the Market Scalper PRO 5-5 Indicator
Before placing your trade you should ensure that the ratio of the neutral to trending is as low as possible showing that the trend is strong. Generally this ratio should be below 50.
If this is met, then the trader should place a sell if the indicator say bearish earlier in the other two sections of the box and that a red arrow had been displayed. On the other hand place a buy if these sections says bullish and that a green arrow had been displayed earlier.
The trader should cancel the order when the signal changes.
Examples showing how to place orders.
Fig.3. Placing a sell order using Market Scalper PRO 5-5 Indicator without its template.
Fig.4. placing a buy order using the Market Scalper PRO 5-5 Indicator without its template.
Download Free Forex Market Scalper PRO 5-5 Indicator