The first version of the Scalper Inside Pro indicator was released in mid-2020. Since then, there have been numerous updates and improvements to the indicator. The market has changed, concepts have changed, and some approaches to technical analysis have all transformed and been integrated into the code of the indicator, which has become very popular with traders around the world.
And now, the time has come to present a major update to our beloved Scalper Inside Pro, which has now reached the fifth generation of its development. In light of this, some rebranding has been done to reflect the importance of the new features. However, if you are not inclined towards changes and innovations, and you are accustomed to the Scalper Inside Pro of the previous line, then you can simply choose not to use the new functionality without any problems. The main changes have affected more of the internal structure of the indicator – the code has become even more optimized and improved, compared to even the very popular 4th generation. And the most important improvement in the new 5th version of the indicator is the introduction of the Reject Filter concept, which will be discussed later in this article.
Scalper Inside PRO
Current Version: v5.0
Description: The Scalper Inside Pro is an exclusive indicator that utilizes an innovative algorithm to swiftly and accurately determine the market trend. The indicator automatically calculates opening, closing, and profit levels, providing detailed trading statistics. With these features, you can choose the most appropriate trading instrument for the current market conditions. Additionally, you can easily integrate your own arrow indicators into Scalper Inside Pro to quickly evaluate their statistics and profitability.
Trading Instruments: Any
Working Time Frame: Any, but M5 recommended
Trading Platform: MetaTrader 4
Brokers for Trading:
At the same time, despite significant improvements to the code and the amount of work that has been done in creating all the updates over the years, our policy is that we do not charge extra for updates from previous versions, as can be seen with other software developers. Therefore, purchasers of even the very first version have the opportunity to update to the current version for free within their existing license. And if someone offers you a paid update to the 5th version of the indicator, be aware that you are dealing with piracy and an illegal and unofficial version of the Scalper Inside Pro indicator. At MAFX Solutions, we welcome honest and respectful relationships between developer and customer.
This will not include a basic description of how to use the Scalper Inside Pro indicator, as this has already been covered repeatedly before. And if you, for some reason, are not yet familiar with the Scalper Inside Pro indicator and its basic functions, then we recommend that you first study the following articles about the indicator:
We’re Live as Long as We Have New Ideas
– Alex Minkoff
Theoretical Concept of the Reject Filter
Let’s now take a quick look at the theoretical concept of trends, which we will analyze using the new Reject Filter feature.
Appearance and Trend Theory in Scalper Inside Pro 5
Local Trends – are the trends within our current working time frame. Typically, this is M5 if we are talking about the recommended time frame for Scalper Inside Pro. This doesn’t mean that you can’t use M30 or H1 as your working time frame, just that if you do, higher time frames will act as the higher time frames, and overall, the logic of operation will remain the same as when using M5. So, for simplicity, let’s assume that we consider local trends, as well as our trading, on the M5 time frame.
Meanwhile, HTF Trends are price movements on a higher time frame (for example, on H1, if we take M5 as our working time frame).
Then, the Global Trend is the trend that occurs on the most significant time frame, H4 or Daily.
This is a simplified system for understanding trends theory that Scalper Inside Pro 5 will use for its operation. In this system, the choice of time frames for the indicator’s needs is made automatically, depending on the selection of the working time frame, the volatility of the instrument, and other factors that are part of the indicator’s operational strategy.
For now, this might sound somewhat confusing, but when we move on to the practice, everything will become clear.
Reject Filter Settings
As one can guess from the name – the Reject Filter cuts something out. We will find out exactly what the filter cuts out a bit later, but for now, let’s turn to the settings of the Reject Filter. These settings are deliberately placed almost at the very end of all the significant settings of the indicator, so as not to influence the user systems that have already been assembled by our clients based on the Scalper Inside Pro indicator.
So, the settings of the Reject Filter consist of 3 states:
1 – The filter is turned Off
2 – The filter operates in Mode 1
3 – The filter operates in Mode 2
Combining Theory and Practice
Reject Filter Mode 1
In the first mode of operation, the Reject Filter indicator simply cuts off movements on Local Trends that are directed against HTF Trends:
Two local downward moves have been crossed out as they were found to be against the upward trend on the HTF Trends.
Reject Filter Mode 2
In the second mode of operation, the Reject Filter indicator actually cuts off data from the Local Trend, and combines data from HTF Trends and Global Trend into a summary signal:
First Example of Using Both Reject Filter Modes
On the first screenshot, we see an unoptimized EURUSD chart with disabled Reject Filter:
Next, let’s turn on the first work mode of the Reject Filter, and see how buy positions that were against HTF Trends were cut from our chart:
We can see in the chart above that the Buy positions just disappeared, and instead we got 3 Sell positions on the downtrend.
We get an even more interesting situation when we turn on the second mode of Reject Filter operation. In this case, we cut off Local Trends and combine Global Trend and HTF Trends into a joint signal:
This also redistributes the HTF-Filter energy and the HTF-Filter based trailing stop recommendation system. Such a trailing stop recommendation may allow us to more flexibly follow our open position and avoid false premature triggers on not so significant price fluctuations.
Another Example of Using the Reject Filter
So far, this Reject Filter module cannot be called a 100% solution suitable in all cases. But it already has a huge potential for practical application, and in many cases allows a trader to solve the problem of opening positions against the main trend. This module will obviously be continued and improved in future versions of Scalper Inside Pro. Good luck to everyone, and thank you to all our friends and clients for your support and for your positive feedback! It helps us a lot to maintain and add new features to our products!