Free Scalping Indicator for MetaTrader 5 Download - [TradingFinder]

The Free Scalping Indicator is an effective tool for identifying direction and evaluating trend strength on the MetaTrader 5 platform.

The increasing length of the histogram, whether in the positive or negative range, indicates strengthened momentum and price movement in the same direction.

Due to its capability to provide quick analyses, this highly volatile indicator is an excellent choice for scalpers and traders seeking to capitalize on price fluctuations in forex and cryptocurrency markets.

Free Scalping Specifications Table

Table below provides an overview of the features and specifications of the Free Scalping Indicator:

Uptrend Conditions

The price chart below shows the USD against CAD (USD/CAD) in a 15-minute timeframe.

When this highly MetaTrader 5 volatile indicator appears in the positive zone (above zero), and the histograms are displayed in blue, this signifies the formation of an upward trend in the market.

The rising height of the histograms signifies strengthening momentum and increased price acceleration upward, providing traders with an entry point for buy positions.

Downtrend Conditions

The image below illustrates the Dow Jones Index (DJI) in a 1-hour timeframe. When the oscillator MetaTrader5 falls below zero, and histograms appear orange, the market has entered a bearish trend.

The longer the negative histograms become, the stronger the downward momentum and price acceleration in the bearish direction.

Indicator Settings

Image below showcases the customizable settings of the Free Scalping Indicator:

• Chart Theme: Chart theme settings
• Period: Candle period
• Lookback: Lookback period

Conclusion

Using histogram-based price analyses, the Free Scalping Indicator is one of the appropriate tools for determining direction and assessing trend strength in volatile markets.

In this trading tool, changes in the histogram length either increasing or decreasing indicate strengthening or weakening momentum, respectively, and can provide traders with suitable entry points.