Scalping Cycle MT4 Indicator - Free MT4 Indicator

Scalping Cycle MT4 Indicator – Free MT4 Indicator

The Scalping Cycle MT4 Indicator is a highly profitable Forex trading strategy that is created to catch price reversal at extreme areas. While the market is in greed and bullish, this strategy looks for short opportunity and while the market is in fear and panic, the Scalping Cycle MT4 Indicator looks for long opportunity.

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The Scalping Cycle MT4 Indicator can be described as an oscillator. It moves into price extreme areas and shows where the market is oversold or overbought. The indicator is calibrated from 0 to 100. Values below 10 are seen as oversold areas whereas values above 90 indicate that the market is overbought. By being able to detect overbought and oversold areas, the indicator is well placed to detect market reversals. Traders can then convert these into tradable signals.

Scalping Cycle MT4 Indicator Strategy and Trading Rules

The Scalping Cycle MT4  indicator performs a colour change when it gets to extreme price areas. As it heads to the overbought zone, it changes to red. When it gets to the oversold area, it changes to white. The colour change therefore serves as specific signals to indicate where traders should set the reversal trade positions.

When a signal appears, the indicator provides a pop-up with an audio alert indicating the entry point for the trade.

Scalping Cycle MT4 Indicator Alerts

Scalping Cycle MT4 Indicator Alerts

Trade entries are not made immediately the alert goes off. Rather, sound technical basis for the trades must be sought. For instance, you can use a candlestick pattern or price behaviour around trend lines to get a valid signal.

Scalping Cycle MT4 Indicator Long Trade Entry Rules

The long trade entry signal occurs when the following is seen on the charts:

  • The Scalping Cycle MT4 indicator is in an area below 10 i.e. is oversold.
  • When the pop-up signal comes up, look for a sound technical basis for trade entry such as a candlestick pattern or a price bounce/breakout to the upside.
  • The long trade entry is made when the next candle opens, following from the candlesticks on which the technical entry signal is detected. The chart example is shown below.
Scalping Cycle MT4 Indicator Long Entry Trading Rules

Scalping Cycle MT4 Indicator Long Entry Trading Rules

Here, there is a trend line bounce and a hammer candle, which together constitute the technical bases for the long trade.

Stop Loss and Take Profit Settings

The stop loss is set a few pips below the solid brown trend line which now acts as a support. The trade must have been executed before the stop loss is set, so that the trend line is clearly defined.

The Take Profit point should be set at a price area which coincides with the Scalping Cycle Indicator overbought readings. This is displayed on the chart.

Scalping Cycle MT4 Indicator Short Trade Entry Rules

  • The Scalping Cycle MT4 indicator is in an area above 90 i.e. is overbought.
  • When the pop-up signal comes up, look for a sound technical basis for trade entry such as a candlestick pattern or a price bounce/breakout to the upside. In this example it is both a trend line rejection as well as a bearish harami formation.
  • The short trade entry is made when the next candle opens, following from the candlesticks on which the technical entry signal is detected. The chart example is shown below.
Scalp Cycle MT4 Indicator Short Trade Entry Rules

Scalping Cycle MT4 Indicator Short Trade Entry Rules

In this chart, we can see the trend line on which price has been rejected, as well as the bearish harami formation which precedes the trade. The trade commences on the next candle where the pullback to the trendline has occurred. This candle is actually preceded by a bearish harami, which is a bearish candlestick pattern.

Stop Loss and Take Profit Settings

The stop loss is set a few pips above the solid brown trend line which acts as a resistance to price action. The trade should have commenced before the stop loss is set. The Take Profit point should be set at the nearest area where the Scalping Cycle MT4 indicator is now oversold.

It is very essential that the trader does not just enter the trade carelessly, but follow laid down rules for technical entry as described in this article. Entries should therefore only be made if there is a sound technical basis for such entries. If there are no clear-cut reasons for entry based on technical analysis, the trade should be ignored until the next opportunity presents itself.

Scalping Cycle MT4 Indicator – 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 4H for better consistency.


Scalping Cycle MT4 Indicator Download

We have provided this powerful trend trading indicator to you at no cost. We humbly request for your help to spread the word by sharing on one of the social platforms below. To unlock the download link, you just need to share this page to help us achieve our goal of helping more traders out there.

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Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like see other indicators that we have carefully selected that will help you in your trading journey.

And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full autopilot. We highly recommend this powerful MT4 Expert Advisor.

Visit our Free MT4 Indicator Download page. We hope you have enjoyed this post as much as we have creating it. Good luck and thank you for your readership.


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