The Klinger Oscillator for Metatrader 5 scans the Forex market for rapid trade entries and exits and works out of the box for scalpers.
We aim for 5-15 pips profit per trade.
The indicator gets displayed in a bottom chart window as two colored lines that oscillate above and below 0.
Understanding the oscillator:
- The red Klinger oscillator line above zero generates a buy scalper trade.
- The red Klinger oscillator line below zero generates a sell scalper trade.
The following indicator inputs and parameters can be modified: fast period, slow period, signal period.
Tip: Deploy the Klinger technical oscillator on the low spread currency pair for best performance.
It works for Forex, Stocks, Indices, Gold, Bitcoin, etc.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Download Indicator 🆓
The following chart shows how the Klinger Forex Oscillator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Klinger Forex Oscillator?
Find a simple trading example below:
- A buy signal occurs when the Klinger oscillator red line crosses back above the zero level.
- Open a buy trade and set a protective stop loss below short-term support.
- Exit the buy trade for 5-15 pips profit target, or wait for a sell reversal signal.
- A sell signal occurs when the Klinger oscillator red line crosses back below the zero level (see chart above).
- Open a sell trade and set a protective stop loss above short-term resistance.
- Exit the sell trade for 5-15 pips profit target, or wait for a buy reversal signal.
Download Now 🆓
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Klinger_Oscillator.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration