Price Action Scalping Indicator: Pattern On Pullback

Written by Dominic Walsh · Published 22 Jun 2026 · Last updated 9 Sep 2026

The price action scalping indicator waits for a pullback with a pattern in it. Two EMAs set the direction. Price has to come back near the fast one. Only then does a pin bar, an engulfing bar or an inside-bar break count.

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: PAS Buy, PAS Sell, PAS Fast EMA, PAS Trend EMA
Alerts	popup, push notification, email, sound
Inputs	15

What the Price action scalping Indicator draws on the chart

A dodger blue `PAS Fast EMA` runs at `FastEMA` `8`.

An orange `PAS Trend EMA` runs at `TrendEMA` `34`.

`PAS Buy` uses arrow 233 and `PAS Sell` uses 234.

Both EMAs come from arithmetic inside the file, seeded from a simple average.

• PAS Buy: arrow, lime, width 2, arrow code 233
• PAS Sell: arrow, red, width 2, arrow code 234
• PAS Fast EMA: line, dodger blue, width 1
• PAS Trend EMA: line, orange, width 1

How the Price action scalping Indicator calculates its values

Direction and pullback

The fast EMA above the trend EMA sets a long bias, and `ConfirmBars` `1` asks that to hold for a bar. `PullbackATR` `0.75` then wants the bar to reach within three quarters of a range unit of the fast line.

Three patterns qualify

A pin bar needs a wick at least `PinWickRatio` `2.0` times the body, with the close in the far part of the range. An engulfing bar needs a body `EngulfBodyRatio` `1.10` times the previous one. An inside bar breaking out counts as well.

Size and spacing filters

`MinATRBody` `0.25` throws out bars whose body is under a quarter of the range reading. `CooldownBars` `3` then keeps marks at least three bars apart, so one busy stretch cannot fill the chart.

How to read the signals

A mark means direction, location and pattern all lined up.

The fast EMA is the pullback target, not a signal line.

The trend EMA at `TrendEMA` `34` is the slower filter behind everything.

Marks are scarce by design, since several tests must pass together.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

`EnableAlerts` heads the set and starts true, and `EnableSound` also ships on with `SoundFile` naming the clip. `EnablePopup` provides the terminal dialog. `EnablePushNotify` and `EnableEmail` begin false. Bars must close before anything sends.

Every Price action scalping Indicator input

Core settings

Setting	What it does	Default
FastEMA	Fast EMA (pullback anchor). Bars in the pullback anchor, default `8`.	8
TrendEMA	Trend EMA filter. Bars in the direction filter, default `34`.	34
ATRPeriod	ATR period. Bars in the range reading, default `14`.	14
PinWickRatio	long wick >= ratio * body. Wick against body for a pin bar, default `2.0`.	2.0
EngulfBodyRatio	engulf body >= ratio * prior body. Body against the previous body for an engulf, default `1.10`.	1.10
MinATRBody	min body as fraction of ATR. Smallest body allowed, as a share of range, default `0.25`.	0.25
PullbackATR	proximity close-to-fastEMA, in ATR. How near the fast line the bar must reach, default `0.75`.	0.75
ConfirmBars	bars required to confirm trend. Bars the direction must hold, default `1`.	1
CooldownBars	min bars between signals. Bars between two marks, default `3`.	3

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	(see inputs panel)	on
SoundFile	(see inputs panel)	alert.wav

Settings that fit your chart

Candle patterns want bars with real bodies. EURUSD H1 is the reference chart, where `TrendEMA` `34` covers close to a day and a half. On M1 most bodies fall under `MinATRBody`. H4 charts give fewer setups but cleaner ones.

When the Price action scalping Indicator fails

Several tests on one bar mean long stretches with nothing at all.

`ConfirmBars` `1` is a light check, so the direction filter is easy to satisfy.

A pattern near the fast line still says nothing about what follows it.

Copy the compiled Price action 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.

Background reading on the method behind the Price action scalping Indicator: Price action trading on Wikipedia, Median Price at StockCharts ChartSchool.

Download the Price action scalping Indicator for MT4 and MT5

The zip holds the compiled Price action 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.

FAQ

What does PullbackATR 0.75 measure?

How close the bar has to come to the fast EMA, in range units. Three quarters of a range reading is a fairly generous distance. Tighten it toward 0.3 and only bars that really touch the line qualify.

How strict is PinWickRatio at 2.0?

Moderately. The long wick must be twice the body or more, and the close has to sit in the far part of the bar. Plenty of ordinary candles clear that. Raise it to three for the classic sharp rejection shape.

Why does CooldownBars 3 exist?

To stop one active stretch producing a wall of marks. After a signal the tool ignores the next three bars entirely. That trades a few genuine setups for a chart you can actually read.

What does MinATRBody 0.25 remove?

Bars whose body measures under a quarter of the fourteen-bar range reading. Those are the indecisive candles that produce weak patterns. On very small timeframes this filter does most of the rejecting.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Price action scalping Indicator as one input. Always backtest before trading live.