The Multi-purpose Forex Scanner indicator is a MT4 indicator that I developed because I wanted to save time finding good pairs to trade. Instead of having to analyze each pair individually, you can see at a glance what are the most promising pairs according to your own criteria.
The Multi-purpose Forex Scanner indicator is a MT4 indicator that I developed because I wanted to save time finding good pairs to trade. Instead of having to analyze each pair individually, you can see at a glance what are the most promising pairs according to your own criteria.
Forex Scanner on MT4
Forex Scanner - Settings
Forex Scanner Settings
- Update interval (secs) - Allows you to define the interval in which the indicator is updated. This is to prevent performance issues.
- Font Size - Allows you to define the font size of the text shown on screen.
- Font Name - Allows you to define the font of the text shown on screen.
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- Show Price - Show/Hide the Price column. This column shows the Bid of the currency.
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- Show Spread - Show/Hide the Spread column. This column shows the Spread of the currency.
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- Show ATR - Show/Hide the ATR column. This column shows the percent of the current bar in relation to the calculation of the ATR.
- ATR Timeframe - The timeframe to use in the ATR calculation.
- ATR Period - The period to use in the ATR calculation.
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- Show Volume - Show/Hide the Volume column. This column shows the percent of the current bar volume in relation to the average of the previous volumes.
- Volume Timeframe - The timeframe to use in the calculation of the average volume.
- Volume Period -The period to use in the calculation of the average volume.
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- Show RSI - Show/Hide the RSI column. This column show the RSI for the current bar. If the RSI is overbought the data is green. If the RSI is oversold, the data is red.
- RSI Timeframe - The timeframe of the RSI calculation
- RSI Period - The period of the RSI
- RSI Upper Level - The upper level of the RSI. Allows to detect overbought.
- RSI Lower Level - The lower level of the RSI. Allows to detect oversold.
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- Show Stochastic - Show/Hide the Stoch column. This column shows the Stochastic value for the current bar.
- Stoch Timeframe - The timeframe of the Stochastic calculation.
- %K period - The %K parameter of the Stochastic.
- %D period - The %D parameter of the Stochastic.
- Slowing - The Slowing of the Stochastic.
- MA Method - The Moving Average method of the Stochastic.
- Price Field - The Price Field parameter of the Stochastic.
- Stoch Upper Level- The upper level of the Stochastic. Allows to detect overbought.
- Stoch Lower Level- The lower level of the Stochastic. Allows to detect oversold.
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- Show ADX - Show/Hide the ADX column. This column interprets the value of the ADX according to the levels 25, 50 and 75.
- ADX Timeframe - The timeframe used in the calculation of the ADX.
- ADX Period - The period of the ADX.
- ADX Applied Price - The applied price of the ADX.
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- Show Pivots - Show/Hide the Pivots column. This column displays the position of price in relation to the closest pivot level.
Frequently Asked Questions
Q: Is the Forex Scanner suitable for beginners? A: Yes, the Forex Scanner is user-friendly and easy to customize, making it suitable for traders of all skill levels.
Q: Can I use the Forex Scanner with any trading platform? A: No, the Forex Scanner is designed specifically for use with the MT4 trading platform.
Q: Does the Forex Scanner come with a user manual? A: No, the Forex Scanner is free and this page serves as documentation.
Q: Is the Forex Scanner customizable? A: Yes, the Forex Scanner is easily customizable with the options detailed above.
Maceo Plex –
Review for Multi-purpose Forex Scanner – Free indicator
jasim –
Hi. possible to make a mt5 version of this indicator please
Carlos Oliveira –
Hi Jasim,
Several other people have asked for the same, and I will try to port it to MT5 soon.
TEBOGO –
Hi really love the indicator please make it for mt5
Slawerk –
Hello Carlos,
great work. Helps an lot!!!!
Alexander –
Thank you, Carlos !
Great scanner, works flawlessly. And thank you again for shairing the code it is written very well, easy to reed and understand, self explanatory and scalable.
Jedah Landicho –
Perfect scanner the best of all. however i hope i can able to use this in my small monitor laptop. i cant hardly seen all the letters it was cluttered in my small laptop. And also sir how i can select my own watchlist with this does it scan all symbols? how about if i wanted to select only.