A bare cross fires too often to scalp with. The scalping pro indicator keeps the 8 over 21 cross but puts two filters on it: momentum from a 14-bar CCI must not argue with the direction, and tick volume must be at least close to its recent average. Only crosses that pass both get a mark.
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: Pro Fast EMA, Pro Slow EMA, Pro Buy, Pro Sell |
| Alerts | popup, push notification, email, sound |
| Inputs | 16 |
The plots this build puts on screen
Two lines and two marks on price.
`Pro Fast EMA` traces deep sky blue at width 2.
`Pro Slow EMA` traces gold beside it.
`Pro Buy` prints lime with arrow 233.
`Pro Sell` prints red with arrow 234.
`ArrowGapPips` `1.0` keeps marks tight.
- Pro Fast EMA: line, deep sky blue, width 2
- Pro Slow EMA: line, gold, width 2
- Pro Buy: arrow, lime, width 2, arrow code 233
- Pro Sell: arrow, red, width 2, arrow code 234
How the source computes it
The trigger
`FastEMAPeriod` `8` crossing `SlowEMAPeriod` `21` starts each candidate. Both lines begin from a plain average so the chart edge stays clean.
The momentum filter
`CCIPeriod` `14` must sit above `BuyCCILevel` `-80.0` for a buy and below `SellCCILevel` `80.0` for a sell. That blocks crosses fighting a strong opposite push.
The volume filter
With `UseVolumeFilter` on, the bar’s tick volume must reach `VolFactor` `0.80` of its `VolAvgPeriod` `20` average.
Reading the output
A mark means cross, momentum and volume agreed.
Plain crosses without marks failed a filter.
Same-side marks wait three bars, set by `CooldownBars`.
The lines show the trend between marks.
Thin sessions produce fewer marks.
Warm-up needs about twenty-two bars.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
A cross that passes both filters is what reports. `EnableAlerts` is the master switch; the popup, the mobile MetaTrader notice and the speaker playing `SoundFile` all ship on, and email starts off.
Every Scalping Pro Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
FastEMAPeriod |
Fast EMA period (scalping trigger). Trigger line length, `8`. | 8 |
SlowEMAPeriod |
Slow EMA period (trend filter). Trend line length, `21`. | 21 |
CCIPeriod |
CCI momentum period. Momentum window, `14`. | 14 |
BuyCCILevel |
CCI must be above this for BUY. Floor momentum must clear for a buy, `-80.0`. | -80.0 |
SellCCILevel |
CCI must be below this for SELL. Ceiling it must stay under for a sell, `80.0`. | 80.0 |
UseVolumeFilter |
Require above-average tick volume. Require enough tick volume, `true`. | on |
VolAvgPeriod |
Volume average period. Bars in the volume average, `20`. | 20 |
VolFactor |
Volume must exceed factor*avg. Share of that average required, `0.80`. | 0.80 |
CooldownBars |
Min bars between same-side signals. Bars between same-side marks, `3`. | 3 |
Display settings
| Setting | What it does | Default |
|---|---|---|
ArrowGapPips |
Arrow offset from bar (pips). | 1.0 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Master alert switch. | on |
EnablePopup |
Popup alert. | on |
EnablePushNotify |
Push to mobile MetaTrader. Mobile MetaTrader notice, ships on, `true`. | on |
EnableEmail |
Email alert. | off |
EnableSound |
Sound alert. | on |
SoundFile |
(see inputs panel) | alert.wav |
Chart and timeframe notes
Two filters make this better suited to busy sessions than quiet ones. The fifteen-minute EURUSD chart suits it well. On M5 the volume filter carries most of the load. On H1 marks drop to a few a day.
Where the method fails
Tick volume counts price changes, not traded size.
The momentum floor is loose, so weak crosses still pass.
A fast pair still lags a sudden reversal.
Phone and speaker routes ship on.
Copy the compiled Scalping Pro 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 Scalping Pro Indicator for MT4 and MT5
The zip holds the compiled Scalping Pro 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
What does VolFactor 0.80 compare?
The current bar’s tick volume against eighty percent of the last twenty bars’ average. A cross on a thinly traded bar fails the test and draws nothing.
Why is BuyCCILevel set to -80.0 and not zero?
It is a veto, not a confirmation. A buy is only blocked when momentum is strongly negative, below minus eighty, which leaves room for crosses early in a turn.
What happens with UseVolumeFilter off?
Only the cross and the momentum test remain. Marks become more frequent, which may suit symbols whose tick volume is unreliable or brokers whose feed reports it oddly.
How do CooldownBars 3 space the Pro Buy marks?
After a buy, the next buy must wait at least three bars. Sell marks keep their own count, so a quick reversal can still print straight away.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Scalping Pro 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 Numéraire on Wikipedia.
- Additional market context is at Stochrsi 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.