The Scalper Signal indicator for MetaTrader 4 allows you to visually determine whether to sell or buy when the pivot level is reached (it does not redraw). Colored bars show the maximum of the pivot (“pivot high”) or the minimum of the pivot (“pivot low”). The labels are applied after three consecutive rising or falling closures.

The red arrows above the bars confirm the downtrend, while the green arrows below the bars confirm the uptrend. The smaller the timeframe, the faster the confirmation occurs, as the indicator analyzes the price movement during trading.

The indicator is mainly designed for trading stocks and futures, but can also be used when working with cross-currency rates.

Configurable parameters:

• SignalOffset (true/false) – determines whether the arrows are set on the signal bar or on the bar confirming the signal
• withSoundAlert (true/false) – enable / disable the sound alert when a signal is detected. The sound alert is defined by the AlertSound parameter, which specifies the file name in WAV format.
• Sensitivity (High <-[1...3]-> Low) – the sensitivity level of the generated signals. The higher the sensitivity, the more signals there are.