100 Pips Daily Scalper

The “100 Pips Daily Scalper” is trading indicator for scalping and day trading suitable fortrading at 5 min time frame. The indicator can be profitable if used correctly and following the the main trend.

Sessions: London and new York

Identify a current trend. (Remember? Trend is your friend?)

- Ignore all signals against a current trend!

Example:

Trend is up – but you get a “sell” signal ( ignore it!). Wait for a “buy” signal to enter. This is the most important rule #1, if you follow it – you will have no losing trades at all.

- The most important rule #2: do not trade and do not use the indicator

on a sideways trend. This is a “MUST follow” rule#2.

Buy occur when the 100 Pips Daily Scalper changes color from red to blue.

Sell occur when the 100 Pips Daily Scalper changes color from blue to red.

Stop Loss

Place your stop loss according to the popup alert number.It is a previous bar high or low + extra number of pips. Adjust the SL extra number of pips in the indicator inputs.

Exit trades when the 100 Pips Daily Scalper issues the opposite trading signal. This ensures that you trade with maximum profits and right before the market reverses.Another exit mechanism which is highly effective is to exit near strong support or resistance levels.

Installation indicator

Unzip the 100pipsdailyscalper.zip :

The indicator file is: 100pipsdailyscalper5.ex4 (for 5 digits broker);

100pipsdailyscalper4.ex4 (for 4 digits broker)

Step 1: Copy the indicator file EX4 into your /experts/indicators/ folder.

This folder is a folder of the MetaTrader trading platform.

Step 2: Open the MetaTrader4 platform, and click on View -> Navigator.

Step 3: A window titled 'Navigator' should appear. Click on Custom Indicators.

Step 4: You should see the 100 Pips Daily Scalper in the Custom 0 Indicators folder. Double click on the 100 Pips Daily Scalper and click OK to load it onto your chart.

In pictures examples of trading with 100 Pips Daily Scalper.