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2012.08.07 13:43

JJN-Scalper - indicator for MetaTrader 4

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votes: 1
JJN-Scalper.mq4 (10.33 KB)view

Scalper system. It shows the entry, takeprofit and stoploss levels. Use it on M5 or above.

TakeProfit and StopLoss come from ATR (you can change the period of the ATR).

IMPORTANT! >> There are 2 basic rules:

1. Entering only if the price crosses the entry level (i.e. for example if BUY appears, wait until the price is crosses the entry level upward)

2. Recognize the trend and sell only in overall downtrend, buy only in overall uptrend

Test it on demo for the first time.

Use PosX and PosY to place the indicator to the desired location.

Methodology differs from JJN-Bee.

Last comments | Go to discussion (11)
emmauk71 | 19 Sep 2012 at 10:05

You are a Coder- you know exactly what Multitimeframe is. I am talking of it showing the same thing on all time frame. That is being able to analyse maybe 15min, 30min and 1hr and showing either sale or buy. It is not show BUy on 30min and sell on 15min. I am saying a softawre that would be able to consider the next lower timeframe and next higher time before coming up with its decision.

Still thank you for that great and wonderful ind



I have really tried this ware on demo and I think it is to some great extent very logical, clear and precise, especially in showing direction in time. In its TP, I see it not being met and majority of time, it is too small. But I think it is going to be better and more focused and precise with its projection if it is a MTF indi. Making it a Multitimeframe will make it better. Can you do it? I can tell you that will serve a better purpose on it.


Sorry, I don't understand exactly what you mean. It is especially single timeframe indicator based on its logic. You can open more charts with different timeframes.

You can give a bigger TP, if there is a same type of trade on higher timeframe.


issa_pa | 20 Jan 2013 at 08:29

hi,thanks for sharing this.

can we use this indicator for time frames like:m30,h1 or higher????

Gordon Gekko
ggekko1 | 22 Jan 2013 at 10:15

hi,thanks for sharing this.

can we use this indicator for time frames like:m30,h1 or higher????

Yes, these are betters than M5.
MQL4 Comments
mql4_comments | 21 Jun 2013 at 20:25

Greeting ggekko.

I'm very new to MT4.

Can you please explain what does "Use PosX and PosY to place the indicator to the desired location" means ?


Gordon Gekko
ggekko1 | 17 Sep 2013 at 17:49
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