The 5 Minutes Scalping Indicator for MT4 is an optimized Forex indicator for catching short-term price movement in the market. The indicator analyzes the trend condition of a currency pair in the smaller time frame for buying and selling opportunities.

This technical indicator enables scalpers to take advantage of short-term trend reversals in the market with less hassle. Therefore, the indicator suits beginners, intermediate, and advanced Forex traders.

The indicator is built to identify scalping opportunities on the EURUSD pair in the 5-minute timeframe. It comes with histogram bars on a separate window, which shows the market trend and is used to generate buy and sell entry signals. So, the indicator is recommended to be used only on the EURUSD pair in the 5-minute time frame for optimal performance.

Furthermore, the indicator displays a popup alert showing the price for a buy or sell entry signal. In addition, it is worth noting that the indicator identifies and signals trading opportunities between 20-30 pips price movement. So, traders should set their take profit level at 30 pips maximum.

The indicator comes with the following customizable settings:

BarsCount: Determines the maximum candlesticks for trend analysis.

PeriodCount: Determines the period for data price analysis.

PriceCount: Determines the price data for analysis.

AlertMode: Enables/Disables popup buy/sell entry alert on the screen.

ControlChart_EURUSD_M5: Enables the analysis of the EURUSD pair in the 5-minute time frame.

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