The 100 Pips Today Scalper is a Bollinger Band pierce indicator for MT4 and MT5. Also, it draws a yellow middle SMA(20) with blue upper and lower bands two standard deviations away, then prints a green BUY arrow when a candle closes BELOW the lower band (mean-reversion long) or a red SELL arrow when it closes ABOVE the upper band. Classic Bollinger reversion logic with one-bar confirmation.
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What the 100 Pips Today Scalper Indicator does on the chart
Also, the 100 Pips Today Scalper plots a standard Bollinger Band: a yellow middle SMA(20) with blue upper and lower bands two standard deviations away. Also, still, the bands widen as volatility expands and tighten during quiet ranges.
When a candle closes BELOW the lower band from inside the channel a green BUY arrow prints – the indicator is calling a mean-reversion long. Thus, when a candle closes ABOVE the upper band from inside, a red SELL arrow prints. The strategy is short-term mean reversion: price tends to snap back to the middle SMA after a band pierce.
Key features and settings
- Yellow middle line = 20-bar SMA of close
- Blue upper/lower bands at 2 standard deviations
- BUY arrow on close pierce of the lower band
- SELL arrow on close pierce of the upper band
- Band period and standard deviation count are both configurable
- Full alert system: popup, push notification to mobile MetaTrader, email, and sound — all four channels can be toggled independently from the inputs panel. Alerts fire once per closed bar so you never get spammed mid-tick.
- Built for both MT4 and MT5; works on every timeframe and every symbol your broker offers.
- Lightweight code that does not slow down the chart.
| Setting | Description | Default |
|---|---|---|
BandPeriod |
Lookback bars for the middle SMA + standard deviation | 20 |
Deviations |
Number of standard deviations for the upper/lower bands | 2.0 |
ArrowOffsetPoints |
Arrow offset from the candle wick in points | 30 |
EnableAlerts |
Master alert toggle | true |
EnablePopup |
Popup on signal | true |
EnablePushNotify |
Mobile push notification | false |
EnableEmail |
SMTP email | false |
EnableSound |
Play sound on signal | false |
How to read signals from the 100 Pips Today Scalper Indicator
Most BB pierces revert. Also, still, hence, the indicator marks them with arrows.
Entry idea (long). Wait for the green BUY arrow when a candle closes below the lower band, then enter on the open of the next bar.
Entry idea (short). Wait for the red SELL arrow on a candle that closes above the upper band.
Next, Exit idea. Target the middle SMA. Then, some traders extend to the opposite band. Stops sit just outside the opposite tail of the pierce bar.
Tuning the 100 Pips Today Scalper Indicator inputs
Start with the defaults, then tune for your market. BandPeriod (default 20) sets the averaging length — raise it for smoother, slower signals or lower it for faster, more sensitive ones; Deviations (default 2.0) scales sensitivity — higher values widen the distance and produce fewer signals. Thus, yet, every alert channel — pop-up, sound, email and mobile push — toggles independently in the same inputs panel, and alerts fire once per closed bar.
Recommended timeframes and instruments
100 Pips Today Scalper Indicator is built for fast execution on the lowest timeframes.
- M1 to M5 for the core scalping signals.
- M15 as the slowest useful chart.
Trade only during the London and New York sessions when spreads are tightest, and stick to tight-spread majors such as EURUSD, GBPUSD and USDJPY.
How to install on MT4 and MT5
Installation is the same for every indicator on this site. Also, still, hence, truly, unzip the download, copy the compiled .ex4 into your MT4 MQL4/Indicators folder (or the .ex5 into MT5 MQL5/Indicators), refresh the Navigator, then drag it onto the chart. For the full step-by-step with alert setup and troubleshooting, see our guide to installing MT4 and MT5 indicators.
Best practices and tips
- Trade only during high-liquidity sessions and avoid news spikes.
- Keep targets tight and respect the spread; a wide spread eats a scalp.
- Wait for the bar to close before acting on a signal.
- Backtest your configuration on at least 200 closed bars before trading live.
- Keep position sizing small while you learn how the tool behaves on your instrument.
- Review your results weekly and prune settings that underperform.
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Built by forexmt4systems.com
In practice, this this indicator is one of 1,383 free MT4, MT5 and TradingView indicators we publish and maintain. Also, every tool ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files, a 4-channel alert system (popup + mobile push + email + sound), and is loaded on EURUSD H1 before release to confirm it draws cleanly without repainting. The same one-step email opt-in below unlocks the entire library – not just this one indicator.
FAQ
What does the 100 Pips Today Scalper measure?
It plots a clear signal layer that the 100 Pips Today Scalper computes from recent price and volume on the chart.
Is the tool non-repaint?
By default the indicator only confirms a signal on the bar close, so the printed signal locks in once that bar closes. As a result, some users prefer the early intra-bar mode for faster signals — both options are in the inputs.
Which timeframe should I use?
There is no single best timeframe. Then, m15 to H1 is a common starting point for intraday traders, and H4 to D1 works for swing traders. Backtest the configuration on the timeframe you actually trade.
Does it work on instruments other than forex?
It works on any instrument MT4 and MT5 supports — forex majors, gold (XAUUSD), indices like US30 and NAS100, and major cryptos. Thus, yet, still, typically, fast-moving instruments may need a smaller period setting.
Can I add alerts?
Yes. Thus, Pop-up, sound, push, and email alerts live in the inputs panel. On MT4 and MT5 the alert plays on the bar close that triggers the signal. Also, still, hence, truly, hence, it ships with full alert functionality built in: popup alerts on the chart, push notifications to mobile MetaTrader, email alerts, and a sound alert with a configurable .wav file. Next, you toggle each channel independently from the inputs panel (EnableAlerts, EnablePopup, EnablePushNotify, EnableEmail, EnableSound). Then, alerts trigger once per closed bar.
For external background reading, see the technical indicator basics. Are results guaranteed?
No. Trading involves risk. Results are not guaranteed. Past performance is not indicative of future results. Use the indicator as one input. Always backtest before trading live.
Category: this is part of our Signal and Forecast collection. Next, plainly, yet, browse more Signal and Forecast for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see Scalping (trading) on Wikipedia.
- For broader market context, see FRED economic data at the St. Louis Fed.