The Minmax Scalper Indicator uses different indicators to find trading opportunities. In this guide, we’ll mention the indicator and how you can trade it.
What is the Minmax Scalper Indicator?
MinMax Scalper is a trading indicator that aims to identify potential trade opportunities in real time by analyzing the market using various technical indicators and considering news events.
It uses support and resistance levels, Fibonacci retracements, moving averages, and MACD to identify potential trade opportunities. Additionally, MinMax Scalper considers news events that could impact the market.
Minmax has four different trading styles: conservative, medium, aggressive, and custom. The conservative mode is suitable if you want to minimize risk. The medium mode involves moderate risk. The aggressive mode is for pro forex traders willing to take more risks. Finally, the custom mode allows traders to adjust their trading signals to their preferences manually.
MinMax Scalper Indicator Strategy
The MinMax Scalper indicator’s strategy is to provide forex traders with BUY/SELL entry levels as soon as it detects a trading opportunity. The indicator uses various technical indicators, such as support and resistance levels, Fibonacci retracements, moving averages, and MACD.
When the indicator detects a trading opportunity, it will indicate the entry-level on the chart with a yellow BUY entry or a red SELL entry.
You’ll receive a pop-up notification or email when the indicator identifies a trading opportunity.
The MinMax Scalper automatically sets a stop loss level when you open an order. However, you can choose when to close the trade with a Min Take Profit or Max Take Profit.
The Min Take Profit level is the minimum profit target like 5 pips, while the Max Take Profit level is the maximum profit target of 20 pips.
If the price goes beyond the Min Take Profit level, it is possible to exit the trade manually.
As a scalping indicator, Minmax works only on the 1-5 min timeframes.
Buy Signal
- The indicator must plot a yellow line on the chart.
- Wait for the alert to appear and then enter the trade.
- The indicator will automatically place a stop-loss.
- Exit the trade with Min/Max Take Profit or do it manually at the last high.
Sell Signal
- The indicator must plot a red line on the chart.
- Wait for the alert to appear and then enter the trade.
- The indicator will automatically place a stop-loss.
- Exit the trade with Min/Max Take Profit or do it manually at the last low.
MinMax Scalper Indicator Pros & Cons
Pros
- The MinMax Scalper indicator provides real-time alerts.
- The indicator uses a combination of technical indicators.
- It comes with four different trading styles.
- It automatically sets a stop loss level.
Cons
- The MinMax Scalper may not work well in all market conditions.
- It isn’t available for free.
Conclusion
The MinMax Scalper indicator combines multiple technical indicators and provides real-time alerts. It also sets automatic stop-loss and take-profit levels and can be set according to four trading modes. However, it isn’t free and may not work in all market conditions.
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.
