The powerful scalping indicator does its own arithmetic. RSI and the range figure are both built inside the file with Wilder smoothing rather than fetched from the terminal. That makes the whole calculation auditable, and it lets a `NonRepaint` switch hold a finished bar exactly where it printed.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 4: Fast EMA, Slow EMA, Buy, Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 15 |
What the Powerful scalping Indicator draws on the chart
A thin line, a thick one, and two marks.
`Fast EMA` runs dodger blue at width 1.
`Slow EMA` runs orange red and heavier.
A lime `Buy` mark prints under the candle.
A red `Sell` mark prints above it.
Nothing at all appears in a separate pane.
- Fast EMA: line, dodger blue, width 1
- Slow EMA: line, orange red, width 2
- Buy: arrow, lime, width 3, arrow code 233
- Sell: arrow, red, width 3, arrow code 234
How the Powerful scalping Indicator calculates its values
Averages first
Two of them cross. `FastEmaPeriod` `5` and `SlowEmaPeriod` `13` supply the pair. Both get seeded at the warm-up bar so the first values are real rather than zero.
Wilder in the file
Here is the unusual part. `RsiPeriod` `7` runs average gain against average loss, smoothed the way Wilder defined it. `AtrPeriod` `14` carries the range forward the same way.
Two gates
A cross is not enough. The reading must clear `RsiBuyMin` `50.0` for a buy or stay under `RsiSellMax` `50.0` for a sell. `AtrMinPoints` `5.0` blocks the quietest bars.
How to read the signals
A mark needs the cross, the reading and the range all agreeing.
Both midline settings are fifty, so the reading only has to lean.
`CooldownBars` `3` keeps repeat marks apart.
The two lines show the current lean at a glance.
`NonRepaint` keeps a finished bar fixed.
Quiet stretches produce nothing at all.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
`EnableAlerts` covers the arrow alerts and starts true with `EnablePopup` and `EnableSound`, which plays `SoundFile`. `EnablePushNotify` and `EnableEmail` both begin off. Every message waits for the bar to close.
Every Powerful scalping Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
FastEmaPeriod |
Shorter of the two averages, `5`. | 5 |
SlowEmaPeriod |
Longer one, `13`. | 13 |
RsiPeriod |
Window behind the strength figure, `7`. | 7 |
RsiBuyMin |
Level a buy has to clear, `50.0`. | 50.0 |
RsiSellMax |
Level a sell has to stay under, `50.0`. | 50.0 |
AtrPeriod |
Window behind the range figure, `14`. | 14 |
AtrMinPoints |
min ATR in points to allow signals. Least range that allows a mark, `5.0`. | 5.0 |
CooldownBars |
Bars held quiet afterwards, `3`. | 3 |
NonRepaint |
Hold a finished bar fixed, `true`. | on |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
(see inputs panel) | on |
EnablePopup |
(see inputs panel) | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
Cue on a mark, `true`. | on |
SoundFile |
(see inputs panel) | alert.wav |
Settings that fit your chart
A five and thirteen pair with a seven-bar reading belongs on a fast chart. EURUSD M15 suits it well. Marks come several times a session there. On H1 they mark real legs. On H4 the pair rarely crosses at all.
When the Powerful scalping Indicator fails
A five-bar average reacts to almost anything.
A midline gate is a weak filter on its own.
In a range the pair crosses back and forth.
Wilder smoothing means one large bar lingers in the reading.
Copy the compiled Powerful scalping Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Download the Powerful scalping Indicator for MT4 and MT5
The zip holds the compiled Powerful scalping Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
Why is NonRepaint worth leaving switched on?
It holds a mark on a finished bar exactly where it printed. The tool works from closed bars rather than the forming one, so an arrow you saw yesterday sits in the same place today.
Why compute RsiPeriod in the file?
Because it keeps the whole calculation visible. Average gain and average loss run with Wilder smoothing inside this source rather than through a terminal call, so the reading can be checked line by line.
Are RsiBuyMin and RsiSellMax both 50.0 on purpose?
Yes. Fifty is the midline, so a buy only needs the reading leaning up and a sell leaning down. Setting them apart, say fifty-five and forty-five, creates a neutral band where nothing prints.
How does AtrMinPoints 5.0 change the count?
It removes marks from the quietest hours. Five points of average range is a low bar on a major, and raising it is the fastest way to thin out arrows without touching the cross itself.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Powerful scalping Indicator as one input. Always backtest before trading live.
Category: this is part of our Signal and Forecast collection. Browse more Signal and Forecast for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Ostrich effect on Wikipedia.
- Additional market context is at Candlestick Charts at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.