MANUAL

Version 2.0, Revised January 4, 2010

Marko Nikolic, Toronto (Canada)

1.0 READ THIS FIRST!

MarketScalper PRO is a SCALPING indicator. It helps you identify TURNING POINTS (swings,

retracements, volatility jumps/drops etc...) so that you could skim profits off each opportunity,

with minimal risk.

It is NOT meant to be traded arrow-to-arrow (opening trade when one arrow appears, and

closing with the other). Instead, each arrow (turning point) should be traded separately with

desired risk management. This style is most profitable, and least risky (see example below).

REMEMBER TO USE STOP LOSS AND TAKE PROFIT ORDERS WITH YOUR BROKER.

I often use 2:1 Reward:Risk ratio, for example, risking 10pips for 20pips of profit, but

money/risk management is ultimately up to you and your style.

MarketScalper PRO works best with ranging markets, so I suggest you use it on timeframes of

60 MIN OR LESS. They range the most (~80% of the time) and are most profitable.

SCALPING EXAMPLE: GBPUSD, M1. Manual Mode: Range 55, Sensitivity 15.

Open trade at each issued arrow with Take Profit = 20pips, Stop-Loss = 10pips.

2.0 INSTALLATION

This should take only around a minute. Open Indicators directory in the package you received,

and copy MarketScalper PRO.ex4 from there, to your Metatrader 4 experts/indicators folder.

3.0 RUNNING

Launch Metatrader 4, open Navigator window (Ctrl-N), expand Custom Indicators tab, and

simply click and drag MarketScalper PRO indicator onto the main price chart.

4.0 TRADING MODES & INDICATOR SETTINGS

MarketScalper PRO comes programmed with 4 modes. 3 of them, Aggressive, High-Probability,

and Balanced are automatic, and 1 is manual. To change between modes, simply enter 1,2,3 in

the Trading_Style field to select Aggressive, High-Probability, or Balanced mode, or set Manual

to true to unlock Range and Sensitivity.

When you drag the indicator onto the price chart, Balanced mode will be loaded by default. To

enter indicator settings screen right click on price chart, select Indicators List, and double-click

on MarketScalper PRO.

4.1 HIGH-PROBABILITY MODE

Set Trading_Style to 1

The indicator only looks for price behavior that has the highest statistical probability of becoming

a turning point (or a retracement, swing etc). You miss out on few trades, but you also reduce

your risk. If you like minimal risk, and are patient, then this mode will suit you well. High-

Probability mode excels in ranging (M1-M5) time frames, and volatile markets such as Pound

crosses, minors, exotics.

4.2 AGGRESSIVE MODE

Set Trading_Style to 3

This is for those traders looking to take more risk, but also scalp higher rewards. The algorithm

scans for turning-points more aggressively and therefore identifies them more frequently. If you

trade often, and like excitement, this is for you.

4.3 BALANCED MODE

Set Trading_Style to 2

The best of both worlds. This is my favorite, and indicator's default setting. It combines

reasonable risk and maximum return on investment. Most users trade with this setting.

4.4 MANUAL MODE

Set Manual to true

If for some reason the first 3 indicator modes do not fit your market or time frame, then you may

wish to manually fine-tune the indicator tor your market. Manual mode unlocks 2 custom

settings, Range and Sensitivity, which are used in calibrating the indicator to your specific

trading portfolio, strategy, and style. They ONLY work with manual mode, as first three use a

scanning algorithm. Range targets the magnitude of a price range you would like to trade, and

Sensitivity, risk. Although there are just two calibration parameters, they control many other

respective algorithmic inputs, making your calibration work quick and easy.

The example below is manually configured for narrow range and more aggressive behavior.

Sensitivity is set to 50, and range to 120. Sensitivity domain is 0-100 and represents least

sensitive - most sensitive spectrum. The higher the Sensitivity, the more aggressive indicator

is in detecting turning-points. Range can be any positive value, but 0-500 is the standard

domain. The higher the Range the winder the price swings.

4.5 SIGNALS, ALERTS, EMAIL NOTIFICATIONS

When a turning point is detected, MarketScalper PRO will issue a signal. At bare minimum that

signal will come in form of an arrow (up for BUY, down for SELL). You may also activate alerts.

There are three types: pop-up message, sound, and email. Pop-up and sound alerts are both

activated by setting Alerts_On option to true.

Email notification is activated by setting Send_Email option to true. However, you also have to

configure your email address and settings in Metatrader 4 options. To do that, go to

TOOLS>>OPTIONS>>EMAIL, and enter all the required fields. If you’re unsure of settings

contact your email provider. The trickiest of all is SMTP (outgoing mail server), as some

providers don’t allow external access to it. If that is an issue for you, worry not, as I’m in process

of setting up mnikolic.com’s own email server which you’ll be able to use within MarketScalper.

4.5 TRADING DASHBOARD

As you activate modes, their names and applicable settings will appear on the main chart to

help you easily reference your trading input. Selecting Manual will additionally display Range

and Sensitivity values.

4.6 ADVANCED MARKET BIAS MONITOR (AMBM)

The original, more basic Market Bias Monitor was introduced in TradeBuilder - Classic Edition

v2.0. Advanced version, specially formulated to work in-sync with MarketScalper PRO's

algorithm features multiple internal market scanners, 3 additional identifiable market conditions,

and a real-time counter displaying quantifiable market conditions.

AMBM continually scans real-time market behavior, and identifies appropriate trading

conditions/periods. It can be effectively used to confirm signals issued by MarketScalper PRO.

Since AMBM is comprised of multiple internal scanners, you may regard the output

number/ruling as a composite, and hence, more qualified opinion in the market. Therefore if that

opinion matches the signal issued by MarketScalper PRO, the the probability of that signal's

success is increased. For example, if AMBM identifies extremely oversold market conditions,

and MarketScalper PRO issues a BUY signal, then a LONG trade has a higher probability of

success than if it were undertaken during neutral, or worse, overbought conditions.

The 5 identifiable market conditions include:

NEUTRAL/WEAK SIGNAL - these are periods of strong trend, and either congestion or

unexpected/unusual volatility (whipsaws). Scalping is not recommended.

OVERBOUGHT - the market is beginning to show quantifiable characteristics of overpricing.

Long trades are not recommended, while shorts have a higher probability of success.

EXTREMELY OVERBOUGHT - the market is overweight. Long trades should be avoided, while

shorts have a considerably higher probability of success.

OVERSOLD - the market is beginning to show quantifiable characteristics of underpricing. Short

trades are not recommended, while longs have a higher probability of success.

EXTREMELY OVERSOLD - the market is underweight. Short trades should be avoided, while

longs have a considerably higher probability of success.

4.7 OTHER SETTINGS

Arrow_Distance: The distance between arrows and price action.

Arrow_Type: Customizes the appearance of your arrows: 0 - Thick, 1 - Thin, 2 - Hollow, 3 -

Round, 4 - Fractal, 5 - Diagonal Thin, 6 - Diagonal Thick, 7 - Diagonal Hollow, 8 - Thumb, 9 -

Finger.

Dashboard_Corner: Places Trading Dashboard in one of four corners.

CountBars: How far back, in terms of historic bars, MarketScalper issues arrow signals. I

recommend a value over 20000 for decent strategy back-testing. Setting this value to less than

10000 could improve performance on old computers.

Changing Arrow Size & Color: Within the MarketScalper dialogue box, click on Colors tab,

and double click on color or width to change it. Option 0 alters UP arrow, while 1 alters DOWN.

5.0 MARKETSCALPER PRO FORUM

Your purchase of MarketScalper PRO also comes with full MarketScalper Forum membership,

the official site for all discussions, strategies, and downloads pertaining to the plug-in. It is

hosted on my trading forum at the following URL:

http://mnikolic.com/tradebuilder/marketscalper-pro-f-84.html. You will receive a separate

document containing your username and password (both of which can be changed) and are

encouraged to contribute any input, questions or suggestions you may have.

The forum also contains information on the most current release of MarketScalper PRO, as well

as information pertaining to upcoming upgrades. Although you will be notified of all upgrades,

you may wish to check the main page from time to time and ensure the version you have is up

to date.

6.0 FUTURE UPGRADES

Your purchase also comes with a lifetime upgrade license for MarketScalper PRO. Another

words, all upgrades, including all enhancements and new features, are completely free. The

detection algorithm is frequently tweaked and improved as new market behavior emerges and

hence upgrading is highly recommended.

6.1 DOWNLOADING THE LATEST VERSION

You will be notified via email when new versions of MarketScalper PRO become available. The

most current version of the plug-in, along with other content such as templates, can be

downloaded from the forum's Downloads Section. MAKE SURE YOU ARE LOGGED IN WITH

THE ACCOUNT INFORMATION YOU RECEIVED AFTER YOUR PURCHASE! Downloads are

only accessible by license holders, and not general public or regular members.

7.0 TECHNICAL SUPPORT

If you, at any time, experience any technical difficulties with the plug-in, either visit the official

technical support forum, or email me at build-a-signal@mnikolic.com.

8.0 DISCOUNTS ON FUTURE PURCHASES

There are already several TradeBuilder editions out, and a few other products under

development. Your license entitles you to discounts on all other Build-A-Signal software in the

range of 10-25%. These cannot be compounded - for example owning 2 licenses and adding up

the discounts. All your discounts will be transferred in form of credit to the site's store when it

opens.

9.0 COPYRIGHTS

Please do not resell or redistribute this product. MarketScalper PRO, all related intellectual

property (including text, images, video) are copyrights of Marko Nikolic and Build-a-Signal

Software. Any words, names, symbols, devices, and images representing MarketScalper PRO

are sole trademarks of Marko Nikolic and Build-a-Signal Software.

Thank you for giving small software companies, like Build-A-Signal, a chance to compete in the

market run by giants.

I sincerely hope that this software will serve you well in all your trading endeavors.

- Marko Nikolic, Build-a-Signal Software