Waddah Attar Scalping Indicator

Waddah Attar Scalping Indicator

Waddah Attar Scalping Indicator For MT4 provides forex trading signals using the high, low, and pivots of two charts. Best for intraday trading and scalpers.

The Waddah Attar scalping indicator for MT4 provides forex trading signals by comparing high, low and pivot values of two chart time frames. By default the indicator caters to scalpers. However, traders can change the input settings to accommodate all chart time frames.

The indicator is simple to use and is suitable for new and advanced forex traders. Moreover, it works on all chart time frames and is suitable for all types of forex traders.

Waddah Attar Scalping Indicator For MT4 Trading Signals

The indicator plots green and red histogram. However, in some instance there are no histogram bars. The green bars indicate a bullish trading signal; red indicates a bearish signal. However, traders should refrain from trading if there are no histogram bars as it indicates a neutral price trend.

By default the indicator setting P1 indicates the chart time frame of M1 and P2 denotes M5. So, this setting is suitable for forex scalping strategies as the indicator compares the prices of M1 and M5 time frames. However, for intraday and short-term trading signals traders can change the inputs to any desired time frame.

The trading strategy is to wait for the appearance of two consecutive green bullish histogram bars to enter a buy trade. Traders should place a stop loss below the previous swing low and look to book profits on the opposite trading signal or if the histogram bars disappear.

A similar strategy can be followed in a bearish trading signal if two consecutive red bars appear.

Conclusion
In summary, the Waddah Attar scalping indicator for MT4 helps forex traders to identify changes in price trends as early as possible. So, it is highly useful for traders looking to enter and exit the markets for scalping and short-term intraday trading.