In this post I will review the Forex Finite Scalper Indicator. This is yet another manual trading strategy that has been designed to run in the ever popular MetaTrader 4 (MT4) trading platform which you can download for free from most online forex brokers. It comes as a trading template along with built-in indicators that you can apply to your chosen chart symbols and timeframes. You can use the default settings or adjust them according to your own needs. Hopefully, this Forex Finite Scalper Indicator Review will help you to decide if this is a forex indicator that you would like to try out, or otherwise avoid.
Forex Finite Scalper Indicator Strategy
The Forex Finite Scalper is a no repaint trading indicator that generates buy and sell signals using three different trading styles implemented within the indicators trading algorithms.
Depending on your trading style, Finite Scalper Trading Indicator can be quickly and easily set to suit your approach to trading. You can experiment with these preset trading styles: Safe, Medium, or Aggressive modes.
Finite Scalper Indicator is a trend-based indicator that uses a special algorithm that clearly aims to identify every aspect of a trend from beginning to end – and alerts you when it finds possible trade setups.
You can choose to take them as is or add your own additional chart analysis to further filter the trading signals that it generates. It has some filters built in to try and avoid trading during ranging markets.
I would usually use a combination of moving averages to do this manually across multiple time frames to get an idea of the overall short, mid and long-term trends.
The Forex Finite Scalper can be used on any chart time frame although as a scalping system it is primarily designed for the lower time frame charts. It can also be used on any forex currency pairs or other CFD instruments such as stocks, commodities, cryptos, metals, energies, etc.
Forex Finite Scalper Indicator has multiple built-in alert systems that promptly notify you of new trading opportunities within seconds. Each alert gives you the Currency Pair, and the Time frame the signal was generated on.
The system comes with easy to interpret signals that appear right on your chart, no matter what forex broker you’re using. Everything about the indicator is explained in the user guide that comes with the indicator itself.
Trend Trading
As mentioned, the Forex Finite Scalper Indicator is primarily a trend trading system. Trend trading is a strategy that involves traders analysing the direction of trendlines for financial instruments. For an upward trend, traders would look to go long and buy, and when a share or an asset is seeing a downtrend, traders would look to go short and sell.
A sideways trend is when the price action is neither reaching lower or higher points. Generally, traders do not seek to make any gains with this type of trend, unless they are analysing extremely short-term price movements, such as in a scalping strategy, for example.
In the technical analysis field, trend indicators are tools designed to help you see the general direction of the market. These technical indicators can help you filter and confirm buy and sell trend signals. Trend indicators are good at eliminating market noise and give us a better picture of the market trend.
A particularly useful technical analysis tool for trend trading is drawing trendlines with moving averages. Traders can take advantage of customisable charts and drawing tools to highlight the price action and overall direction of a trend, which can be applied to multiple chart time frames. These features enable traders to take the quality of their analysis to an even higher level.
In the currency market, due to the economic forces at work we can see trends being more prevalent. The long-term trends can last anywhere from a couple of months and can extend into year-long trends. But, most retail traders are only short-term oriented. In this case we’re looking for Forex trends that can last from 3 weeks up to 3 months.
How to use the Finite Scalper Indicator?
You will need an account with a forex broker and the MT4 platform where you can attach the Finite Scalper Indicator to your charts to look for trading signals on all of your favourite trading instruments. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
I always prefer to use an ECN forex broker as I find they have some of the best trading conditions possible which includes tight spreads, low commissions and reliable execution speeds. I believe these are very important factors for long term success, especially when using a scalping trading strategy such as this one.
IC Markets are my top choice of forex broker for manual and automated trading strategies. This is because I find them to have tight spreads, low commission fees and plenty of liquidity which means that you can get your trades executed at some of the best forex market prices at all times. From my experience, they also provide excellent 24/7 customer support and have a good variety of convenient account funding options for you to choose from.
Forex Finite Scalper Indicator Summary
I personally feel the Finite Scalper Indicator can form part of a manual trading system and is actually well thought through. It is flexible and easy to use. It does however generate a lot of false signals so I would be verifying every signal with my own analysis.
What I will say is that it will require you to use your initiative and not to necessarily take every trading signal it generates without giving consideration to the risk to reward ratio of each trade and the underlying market conditions.
The Finite Scalper Indicator includes setup instructions, support and free updates. You may wish to start on a demo trading account to practice with this system until you have consistent success.
Overall, this is a basic forex strategy, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators and drawing objects that are included within the platform free of charge. If you want to learn more and get the Finite Scalper Indicator download you can visit the website by using the link below.
Forex Finite Scalper Indicator
$37
Pros
- Manual Trading System
- Scalping Strategy
- Technical Indicators
- Signal Alerts
- Any Trading Instrument
- Detailed Instructions
- Full Support
- Free Updates
Cons
- MetaTrader 4 Only
- Requires Some User Initiative
- Takes Time To Learn How To Use
- Requires Ideal Trading Conditions
- Broker Sensitive
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
