Scalper X2 Indicator for MT4 and MT5

Written by Dominic Walsh · Published 8 Jul 2026 · Last updated 24 Sep 2026

The scalper x2 indicator uses a very fast pair and a single slack setting for momentum. It draws a 5-bar and a 13-bar exponential average and marks each cross, provided a 9-bar RSI is no more than twelve points on the wrong side of 50. One input widens or tightens that tolerance.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	4: Scalper X2 Fast, Scalper X2 Slow, Scalper X2 Buy, Scalper X2 Sell
Alerts	popup, push notification, email, sound
Inputs	11

Chart elements

Two averages and two marks on price.

`Scalper X2 Fast` runs deep sky blue.

`Scalper X2 Slow` runs orange at width 2.

`Scalper X2 Buy` prints lime beneath the bar.

`Scalper X2 Sell` prints red above the bar.

A status line shows both averages and RSI.

• Scalper X2 Fast: line, deep sky blue, width 1
• Scalper X2 Slow: line, orange, width 2
• Scalper X2 Buy: arrow, lime, width 2, arrow code 233
• Scalper X2 Sell: arrow, red, width 2, arrow code 234

The maths behind the plots

Averages

`FastEma` `5` and `SlowEma` `13` start from the oldest close and run exponentially from there.

Slack

`RsiPeriod` `9` must read at least 50 minus `RsiSlack` `12.0`, so 38, for a buy. Sells need 62 or lower.

Placement

`ArrowOffsetPips` `1.5` sets how far each mark sits from the bar’s high or low.

Reading it in practice

A lime mark means the quick line crossed up.

A red mark means it crossed down.

Slack of 12 lets most crosses through.

Raise slack for more marks, lower it for fewer.

Early chart bars settle over a few dozen bars.

Warm-up needs about fifteen bars.

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

Crosses that pass the slack test go out as popups under `EnableAlerts`; the phone, email and speaker routes need switching on.

Every Scalper X2 Indicator input

Core settings

Setting	What it does	Default
FastEma	Fast EMA period. Quickest average, `5`.	5
SlowEma	Slow EMA period. Slower average, `13`.	13
RsiPeriod	RSI momentum period. Momentum length, `9`.	9
RsiSlack	RSI slack around 50 (higher = more signals). Tolerance around 50, `12.0`.	12.0

Display settings

Setting	What it does	Default
ArrowOffsetPips	Arrow gap from bar high/low (pips). Mark gap in pips, `1.5`.	1.5

Alert settings

Setting	What it does	Default
EnableAlerts	Master alert switch, `true`.	on
EnablePopup	Popup, `true`.	on
EnablePushNotify	Phone route, `false`.	off
EnableEmail	Email route, `false`.	off
EnableSound	Speaker, `false`.	off
SoundFile	(see inputs panel)	alert.wav

Picking the right chart

A 5 and 13 pair suits M1 to M15 charts in busy hours. The hourly EURUSD screenshot shows several crosses a day. On slower charts the same rules give short swing signals.

Where it falls down

Wide slack filters little by default.

Very fast averages whipsaw often.

Seeding from one close skews the earliest bars.

At first only popups carry the messages.

Copy the compiled Scalper X2 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 Scalper X2 Indicator: Moving Average Crossover Trading at BabyPips, Relative Strength Index at Investopedia.

Download the Scalper X2 Indicator for MT4 and MT5

The zip holds the compiled Scalper X2 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

How does RsiSlack 12.0 set the buy threshold?

It subtracts twelve from 50, so a buy needs RSI at 38 or above. A sell needs 62 or below. Lower the slack to make both thresholds stricter.

Why is FastEma 5 paired with SlowEma 13?

Both turn quickly, which suits one to fifteen minute charts. The gap between them is small, so crosses come early in a move and often in ranges.

Why are early Scalper X2 Fast values unreliable?

Both averages start from the oldest close instead of a simple average, so they need a few dozen bars to settle. Crosses in that early stretch mean less than the ones that follow.

Does RsiSlack change after a Scalper X2 Buy prints?

No. Once the bar closes, the RSI reading and the two averages behind the mark are fixed. Later ticks cannot alter them, so a printed mark stays where it is.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Scalper X2 Indicator as one input. Always backtest before trading live.