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5 Minutes Scalping

The 5 Minutes Scalping indicator for MT4 identifies optimal scalping zones in the market. With its easy-to-use interface and powerful features, this indicator is a great choice for traders looking to take advantage of the Forex market. The best Forex scalping indicator for MT4!

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Description

The 5 Minutes Scalping Indicator for MT4 is an optimized Forex indicator for catching short-term price movement in the market. The indicator analyzes the trend condition of a currency pair in the smaller time frame for buying and selling opportunities.

This technical indicator enables scalpers to take advantage of short-term trend reversals in the market with less hassle. Therefore, the indicator suits beginners, intermediate, and advanced Forex traders.

Features of the 5 Minutes Scalping Indicator for MT4

The indicator is built to identify scalping opportunities on the EURUSD pair in the 5-minute timeframe. It comes with histogram bars on a separate window, which shows the market trend and is used to generate buy and sell entry signals. So, the indicator is recommended to be used only on the EURUSD pair in the 5-minute time frame for optimal performance.

Furthermore, the indicator displays a popup alert showing the price for a buy or sell entry signal. In addition, it is worth noting that the indicator identifies and signals trading opportunities between 20-30 pips price movement. So, traders should set their take profit level at 30 pips maximum.

Benefits of Using the Indicator

  • Beginner-Friendly: The indicator pops up buy/sell entry levels on the chart, which enables beginners to find trading opportunities and the ideal entry zones without hassle.
  • Chart Friendly: The 5 Minutes Scalping indicator for MT4 is chart-friendly, which enables easy technical analysis, especially for experienced traders. Hence, the indicator can be used with price action as confirmation before opening a trade position.

Indicator Settings Description

The indicator comes with the following customizable settings:

BarsCount: Determines the maximum candlesticks for trend analysis.

PeriodCount: Determines the period for data price analysis.

PriceCount: Determines the price data for analysis.

AlertMode: Enables/Disables popup buy/sell entry alert on the screen.

ControlChart_EURUSD_M5: Enables the analysis of the EURUSD pair in the 5-minute time frame.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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