The TTM Scalper Indicator MT4 is a very simple indicator that shows you the pivot high and low points in the price.
The TTM scalper plots a blue or a red line when the price has made a pivot high or a pivot low.
There are a number of ways you can interpret the signals from the TTM Scalper Indicator.
TTM Scalper Indicator: When should you go long?
When to go long using the TTM Scalper Indicator?
Wait for the TTM scalper to plot a red line near the low end of the trend.
Following this, you can then set a pending long order a the high of the bar that the TTM indicator has plotted.
Make sure that the previous trend is down.
When to exit your long positions?
Exit the long position using the TTM Scalper Indicator as and when your trade hits a 1:3 fixed risk reward ratio set up.
Alternately, you can simply trail your stops until you get stopped out.
When to go short using the TTM Scalper Indicator?
Wait for price to be moving higher, making higher highs.
When you see the TTM scalper plotting a blue line, you can set a pending short order near the low end of the price bar.
When to exit your short positions?
Exit the long position using the TTM Scalper Indicator as and when your trade hits a 1:3 fixed risk-reward ratio set up.
Alternately, you can simply trail your stops until you get stopped out.
Where to set the stop loss
The initial stop loss for both long and short positions are to be set near the low end of the bar that signaled the entry.
Conclusion
The TTM Scalper Indicator as shown is a very simple technical indicator.
You can use this to trade standalone or you can combine the TTM scalper with other trading strategies.
How to Increase Your Winning Ratio with the TTM Scalper Indicator MT4?
When you add the TTM 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.
Click Here for Your Free Download of TTM Scalper Indicator.ex4 file
How to Install Custom Indicators on MT4 on Windows
How to Install Custom Indicators on MT4 on Mac OS
FREE Metatrader 4 Download | Free MT4 Download
Visit our Free MT4 Indicator Download page.
We hope you have enjoyed this post as much as we have created this strategy post for you.
Good luck and thank you for your readership.
The post TTM Scalper Indicator MT4 | Free Download appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
No comments:
Post a Comment