Features
- When a signal is generated, you can configure the indicator to send you an audio or email alert—releasing you from being confined to your computer.
- Despite the name, the indicator applies to non-scalping strategies as well.
- The indicator automatically draws a yellow or blue line indicating the best time to enter the market; this color scheme can be customized.
- It plots slopes resembling MAs around the price bars to indicate market trends.
Buy Entry
- Wait for the indicator first turns blue, signaling bullishness.
- At least two bullish bars close to the indicator slope must be observed.
- You can now place a buy signal at the high of the bullish bar.
- Place your stop loss order below the signaling bar's low.
- When the Indicator turns yellow, exit long and take profit.
Sell Entry
- Wait for the indicator to turn yellow.
- Observe two or more bearish bars that have closed below the indicator slope.
- Place your sell signal at the respective bearish bar low
- Set your stop loss above the signaling bar's high price.
- When the Indicator turns blue, exit short and take profit.
If the indicator generates a signal when the price moves between Moving Averages (MAs), this indicates sideways movement and uncertainty. In such instances, it may not be an excellent time to enter.
Some versions of the Forex Super Scalper indicator are available for free download, but most are either broken or full of bugs.
Inputs
Suggestions for Complementary Indicators
Combining the KT Forex Super Scalper with volume analysis and the Hull Moving Average indicator, which also produces a buy-sell signal on the most recent data and is based on the crossover, will improve the confirmation of your trade's entry and exit.
Conclusion
The indicator can be used to trade major currency pairs available in the Forex market. However, it works best with 1M and 5M time frame candles, although it is just as applicable to more extended timeframe strategies.
Although there is a high risk involved in scalping if you are not used to the trading style, you can try scalping with a demo account on your trading platform to see how you can incorporate it into your trading strategy. Remember, having low spreads and commissions is essential for a high-frequency scalping strategy!
Tai