Hercules MT4 scalping indicator for Meta Trader 4 is all-in-one Trend and entry indicator which is suitable for all Forex pairs including Gold. The preferred timeframe would be M5. Also, it generates enough valid entries per pair per day. Hercules MT4 scalping indicator, Currency pair- EURUSD, Timeframe- M5 (click to zoom)
Using Hercules MT4 scalping indicator
This indicator can be used in any currency pairs and on any time frame, but preferably on M5. Moreover, it’s relatively easy to trade with Hercules MT4 scalping indicator.
- Buy: Wait until trend changes (bars colors from red to blue) Open a buy on the first up-arrow.
- Sell: Wait until trend changes (bars colors from blue to red) Open a sell on the first down-arrow.
Note: Set your SL from 15 to 50 pips (depends on all on a pairs volatility). If your SL got hit, enter on the next opportunity only if the new entry arrow is higher/lower than your previous SL. Also, set your TP 2 times your SL. Great risk/reward ratio indeed.
Settings and Input Parameters
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many because parameters are grouped into self-explanatory blocks. Indicator Settings The amplitude represents the size of the patterns. The max. history bars parameter is a number of bars in the chart to look back. Fewer bars to evaluate means the indicator will load faster. Patterns Choose the colors of the patterns. Breakouts The indicator implements breakouts to make trading easier. Moreover, you can select the breakout period (in bars) and the color of the arrows to be displayed in the chart. Alerts Enable or disable alerts at will.
Download Hercules MT4 scalping indicator
You can download Hercules MT4 scalping indicator for free by clicking the “Download” button located at the top right corner.
Create your custom indicator
If you would like to create your own custom indicator, please contact AtoZ team. Also, don’t miss out on various other indicators you can find here.
How do you install an indicator on MT4?
In order to install this indicator on your MT4, you need to: 1. Click on “Download” button above to download Hercules MT4 scalping indicator; 2. Save the file to your computer; 3. Extract and move the .ex4 file into: \MQL4\Indicators; 4. Restart your Metatrader platform; 5. Click “Indicators” button in Metatrader toolbar; 6. Select “Custom”; 7. Search and select “Hercules MT4 scalping indicator; 8. Adjust settings or press OK to add the indicator to your selected chart; Note: Hercules MT4 scalping indicator, developed by Hercules de Vries and sent by an AtoZForex follower from Munich, Alfred. AtoZForex does not carry any copyrights over this trading tool. Do you have a reliable indicator or EA? Would you like to share it with our users?