The Forex Scanner Pro indicator for MetaTrader is a ground-breaking trading tool that automatically analyzes the trend direction of financial trading assets. It is a trend following indicator that closely follows a trend as the price swings between different levels.
Forex Scanner Pro indicator indicator is built with a trend analyzer algorithm coupled with signal arrows, average daily range, and a support and resistance tool. This makes the indicator the most reliable and accurate trend indicator.
The indicator is suitable for both novice and experienced traders. It can also be incorporated into different trading strategies
The indicator would look on your MT4 platform upon installation. The Forex Scanner Pro indicator may be used as a stand-alone tool, but it is however recommended to pick trade signals that are in sync with the trend.
The indicator comes with BUY/SELL signal arrows painted in GREEN/RED respectively. The green arrows denote BUY signals while the red arrows denote a SELL signal. The indicator also automatically plots support/resistance levels to indicate potential reversal points.
BUY Signal: To get a high probability BUY signal, firstly, ensure that the trend is bullish (the indicator automatically shows the trend). With this condition, you may open a BUY trade after the GREEN signal arrow is displayed.
SELL Signal: The above principle is also applicable for a SELL setup. The trend should ideally be bearish, and then open a SELL trade after a RED arrow is displayed.
The indicator doesn’t come with different customizable settings. It is however advisable to click the “Allow DLL imports” after installation.
Alert On: This is the only customizable parameter. It is used to turn OFF/ON the signal alert.