AM Trading Tips
Learn about Forex scalping trading with an indicator that works on 8 currency pairs. The strategy involves opening and closing multiple positions for small gains. To use the indicator, follow the rules: only sell when currency heat meter is red and trend is strong down, and only buy when currency heat meter is white and trend is strong up. The system can be practiced on an MT4 demo account before going live. Watch the complete video for more details and join the Telegram channel for a free download link. Subscribe to the channel and like the video to support the creator.
Forex Scalping Trading with MT4 Indicator: A Comprehensive Guide
Introduction to Forex Scalping Trading
Forex scalping is a popular trading style that involves opening and closing multiple positions on one or more forex pairs over the course of a day. Unlike traditional trading styles that open one position at the start of a trend and close it at the end, scalpers will open and close several positions over a trend’s course. Forex scalpers aim to gain just a few pips at a time, looking for multiple small gains rather than fewer larger ones.
In this article, we will delve into one of the most profitable forex scalping trading MT4 indicators and discuss its trading rules in detail.
Trading Rules of Forex Scalping Trading MT4 Indicator
In this video, a forex trader known as “AM Trading Tips” shared the trading rules of a profitable forex scalping trading MT4 indicator. Here, we will discuss these trading rules for a better understanding.
Currency Heat Meter Indicator
The indicator used in this trading strategy is the Currency Heat Meter. The indicator measures the strength of different currencies and shows the current trend of the currency pairs. It is crucial to note that this indicator system works with only eight currency pairs given on the chart.
Sell Trade Setup
When the currency heat meter is in red color, and the trend is visible in strong down or extreme down, only a sell trade has to be taken. It is essential to ensure that the trend is visible in a bearish direction for a confirmed sell trade. Also, avoid trading during news release time.
Buy Trade Setup
Similarly, when the currency heat meter is in white color, and the trend is visible in strong up or extreme up, only a buy trade has to be taken. Confirm that the trend is in a bullish direction before making any purchase trades. Avoid trading during news release time.
Best Time Frame for Indicator System
This indicator system works best on any time frame and the eight currency pairs given on the chart.
Example of Perfect Trade Setup
In the video, the forex trader shared a perfect sell trade setup where the currency heat meter is in red color, and the trend is visible in extreme down. This setup confirms that only a sell trade can be taken. Likewise, a perfect buy trade setup is where the currency heat meter is in white color, and the trend is visible in strong up.
Back Test Performance of Indicator Signals
In addition to sharing the trading rules of this indicator system, the forex trader also demonstrated how the indicator performs by showing a back test performance of the indicator signals.
Using MT4 Demo Account
While traders of all experience levels can use this system, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live.
Conclusion
Forex scalping trading with an MT4 indicator is an efficient strategy that can help traders gain small, consistent profits on a daily basis. By following the trading rules of the profitable forex scalping trading MT4 indicator, traders can identify perfect trade setups that confirm the trend directions before opening a position. Remember to avoid trading during news release time and practice on an MT4 demo account to gain more confidence.
