The Super Scalping Future Indicator For MT4
The Super Scalping Future Indicator For MT4 is a met trader 4 based scalping indicator that uses advanced technical analysis to try to predict very short term trends and signal shorter-term traders or scalpers to enter trades for quick profits. These trades would usually range from about 5 to 7 pips on average.
Benefits and Drawbacks of using the Super Scalping Future Indicator For MT4
Most scalping systems do not offer alert based indicators or systems for the trader, however, the Super Scalping Future Indicator For MT4 offers the trader both sound alerts and popups whenever a new trade sets up so that the trader never misses an entry. This is very beneficial to traders who also have other jobs or things they do alongside trading during the trading day.
When using the Super Scalping Future Indicator For MT4, traders would have to be careful as most times on the lower timeframes, the indicator usually repaints a lot. This means that it can give a trader an alert that says BUY EURUSD now and then the trader buys only to come back a few minutes later and the signal has disappeared or is no longer existent on the trading chart. A lot of traders usually frown at this.
The signals from the Super Scalping Future Indicator For MT4 are delivered to the trader as arrows printed on a chart. The arrows are also color coded so that the trader can immediately differentiate between which signals were for taking buy positions and which signals were for taking sell positions. The trader can then immediately track how many signals have already happened during a trading day and how many they have already missed.
While most traders might argue that scalping indicators should be used on the lowest timeframes possible, we suggest that the trader uses the 15minutes timeframe instead since on the minute and 5 minutes timeframes, traders are usually prone to a lot of false entries and repainting signals which may most likely diminish the trader's performance in both the short term and the long term.
If a trader must use the Super Scalping Future Indicator For MT4, they have to employ a very strict money management strategy that doesn't allow the trader to risk more than 1% of their capital for every single trade the signal presents to them. That way, their losses are reduced and they now have a chance to make some profits and or avoid huge drawdowns at the end of the trading day.
Signals produced by the Super Scalping Future Indicator For MT4 can lead to very nice gains when they work out since the signals usually appear when a new trend or a reversal of the present trend is about to start.
Since it is a new trend, if the move is not a false move, the trader is likely to be in on the trend at the very beginning of the trend and if he or she follows the move correctly, he or she can make very nice profits from the trade.
The strategy is however much more ideal for scalpers than longer timeframe traders since, on the higher timeframes, the strategy rarely produces enough signals like it does on the lower timeframes. This can lead the trader into getting bored, getting distracted or even taking a trade when there's no signal present from the indicator. Hence, only scalpers should use this indicator as it will benefit them the most.
Due to the way the Super Scalping Future Indicator For MT4 works by visually displaying entries and even creating sound and popup alerts, the Super Scalping Future Indicator For MT4 can be used by beginners who would still need guidance on what signals to trade and which ones not to. Such beginners would, however, need to study and understand what risk management is and how to employ an effective risk management strategy in their trading before they can use this indicator successfully without losing their trading capital or funds.
Also, since the Super Scalping Future Indicator For MT4 automatically does all the technical analysis and price processing, the trader using this indicator may not necessarily need to do any additional analysis in terms of trying to determine what the market is saying or which side of the trade to enter. This then removes the stress of analysis on the part of the trader using this indicator.
Traders who have a preference for indicators that do not print will not be very pleased with this indicator as it displays arrows on the chart telling the trader which direction of the market to trade. Although this is likely done in a bid to dissuade the trader for doing over analysis and not taking any trades at the end, certain traders may need to do their analysis on the carts and would likely require a clean chart for that.
The Super Scalping Future Indicator For MT4 should also be used with other indicators that work well at predicting trend direction like the Relative Strength Index which will then help to confirm the signals produced by this indicator. That way, if a wrong trend signal is produced, it can then be avoided by the trader as he or she would then only take trades when both of the indicators align in terms of direction and position of trend and entry.
While using the Super Scalping Future Indicator For MT4, the trader might also need to combine the indicator signals with another scalping indicator. The reason is because of the way scalping indicators work generally. Scalping indicators are usually built to be sensitive to very tiny changes in price so they can be able to predict trend changes on the very small timeframes like the 1 minute. This unique attribute helps them to be useful tor the traders on the smaller timeframes and also this is the reason why so many indicators do not work on the smaller timeframes since the indicator does not respond well enough to quick changes in price such that the scalper can take advantage of it.