The Karacatica Forex indicator for Metatrader 5 provides reliable trading signals based on the Average True Range (ATR) to both scalpers and day traders.
These signals are visually represented on the price chart by arrows in green and magenta colors.
To utilize the indicator for trading, follow these guidelines:
- A green arrow indicates a potential bullish trend reversal.
- A magenta arrow suggests a possible bearish trend reversal.
The indicator offers customization options to users, allowing them to adjust settings such as the ATR period and arrow colors according to their preferences.
To gain confidence in the Karacatica Scalper indicator, it is highly recommended to thoroughly test it on a demo account before using it with real funds.
Here are two valuable tips for scalpers:
- Minimize trading costs by applying the Karacatica indicator on currency pairs with lower spreads.
- Concentrate on trading during the most volatile hours, as higher volatility often presents more frequent trading opportunities.
Free Download
karacatica.mq5 Indicator (MT5)
Chart Example
The image below shows what the Karacatica Scalper looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Karacatica Scalper Indicator?
Find a simple trading example below:
Buy Signal
- The green colored Karacatica arrow is a buy signal.
- Open a buy market order and add a stop loss below short-term support.
- Exit the buy trade for a potential 10-25 pips target, or hold the position and wait for the magenta colored arrow.
Sell Signal
- The magenta colored Karacatica arrow is a sell signal.
- Open a short market order and add a stop loss above short-term resistance.
- Exit the sell trade for a potential 10-25 pips target, or hold the position and wait for the green colored arrow.
