The Super Scalper Indicator MT4 is a very simple indicator that can signal when prices are moving up or down.
The indicator behaves like a moving average and plots blue and yellow lines as and when prices are moving up or down respectively.
When to go long using the Super Scalper Indicator?
Wait for price to be moving lower, making lower lows.
The super scalper should also be yellow at this point.
Then wait for the indicator to turn blue with price making a close above the Super Scalper Indicator.
Go long at the open of the next candlestick.
When to exit your long positions?
Exit the long position using the Super Scalper Indicator as and when you see an opposite signal that is emerging.
Alternately, you can exit with a fixed risk to reward ratio set up.
When to go short using the Super Scalper Indicator?
Wait for price to be moving higher, making higher highs.
The super scalper should also be blue at this point.
Then wait for the indicator to turn to yellow with price making a close below the Super Scalper Indicator.
Go short at the open of the next candlestick.
When to exit your short positions?
Exit the short position using the Super Scalper Indicator as and when you see an opposite signal that is emerging.
Alternately, you can exit with a fixed risk to reward ratio set up.
Where to set the stop loss?
The stop loss can be set at the low of the candlestick prior to the one from which you entered the position.
Alternately, look for the recent low or high for placing your stops.
Conclusion
The Super Scalper Indicator as shown is a very simple custom technical indicator that can depict the short term trends in the market.
How to Increase Your Winning Ratio with the Super Scalper Indicator MT4?
When you add the Super Scalper Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames.
However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.
We recommend that you use higher time frames like the H4 or even higher for better consistency.
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