Scalper Dream Indicator

Scalper Dream Indicator

Scalper Dream indicator for mt4. Trend following indicator. Forex trend strength meter. Forex momentum indicator.

The Scalper Dream indicator for MetaTrader is a trend following indicator ideally made for taking short-term trades (scalping) in the financial market. The indicator is built with a histogram to guide users in the direction of the trend. It is also integrated with supporting text information that shows the trend power, trend direction, etc.

The trend filter parameters (histogram, trend direction, trend strength, etc.) make the indicator a powerful tool for scalping. You can easily define the trend of the market with just a glance. This in turn eliminates the fear of trading against the trend which can be detrimental to trades.

Furthermore, the indicator also comes with a BUY/SELL signal, Stop-Loss, and Take-Profit features that pop up once certain technical criteria are met. This suggests that the Scalper Dream indicator can be used by a novice trader that has little knowledge of technical analysis. An experienced trader would also find it valuable because it helps save time.

What Is The Best Indicator For Scalping?
The internet is littered with so many indicators for scalp trading. However, the Scalper Dream indicator for MT4 has proven to be the best indicator for scalping. The indicator’s innovative features are well optimized for short-term trades. Besides, the indicator is highly responsive to the changes in price, thereby making its signals more accurate than others.

Which Time Frame is The Best For Scalping?
In general, short-term trades (scalping) are taken on the lower time frames like from the M30 all through to the M1. Regardless, the M5 and M15 time frames are the most convenient time frames used by a lot of scalpers. This is because they give clearer and more reliable trading patterns than other lower time frames.

How To Trade With The Scalper Dream Indicator

The above indicator shows how the Scalper Dream indicator would look on your MT4 chart. It is very simple to use as most of the work is automatically done by the indicator.

The GREEN histogram bars show that the market is in an uptrend while the RED histogram bars indicate a downtrend. The continual increase in the bars suggests a higher momentum which also implies that the market is a strong up/downtrend accordingly. Conversely, equal heights of the bars depict a side-way trend.

The Scalper Dream Indicator BUY/SELL signals
The Scalper Dream indicator can function as a stand-alone trading tool for BUY/SELL setups. You simply wait for the indicator to pop up a BUY/SELL signal (for instance), and then open a trade position accordingly. However, a good trade entry practice is to wait for a BUY/LONG pop-up signal from the indicator, and then open a BUY position in sync with price action, for instance. The above BUY trade would have been taken after the bullish engulfing candlestick.

Alternatively, a good trade entry practice is to wait for the indicator to pop a SELL signal (for instance); and then open a SELL/SHORT position after the indicator prints a RED histogram bar that is in sync with the pop-up SELL signal, for instance.

It is worthy to mention that a ‘Trend Power’ of 65% and above is the ideal trend condition to be considered for a better trade entry. Take-Profit and Stop-Loss are automatically given by the indicator. Nonetheless, you may choose your Take-Profit and Stop-Loss that is realistic and suits your risk-to-reward ratio.

Conclusion
The Scalper Dream indicator for MT4 has the right features you need to make profitable trades. With this indicator, you can comfortably scalp the forex market with less fear of going against a trend. Besides, it is also free to download.