Scalper Signal indicator for metaTrader 4 is a visual way to help determine whether to buy or sell against a pivot level (it does not repaint). The painted bars mark a "pivot high" or "pivot low". This is done after 3 higher closes or 3 lower closes.

Red arrows above the bar mark a continuing downtrend confirmation while the Green arrows below the bar mark a continuing uptrend /confirm/iation. The faster the timeframe, the faster the /confirm/iation, because the indicator measures price action when you trade.

It is mainly used for trading stocks and futures, but it can also be used for currency crosses.

The user-defined settings are:

• SignalOffset (true/false) - setting determines if the signal arrows are displayed at the signal bar or at the bar that confirms the signal
• withSoundalert (true/false) - setting determines if a sound should be played when a signal is detected. The sound signal is defined by "alertSound" setting where the name of a WAV file should be entered.
• Sensitivity (High <-[1...3]-> Low) - sets the sensitivity of the generated signals. Higher sensitivity generates more signals.