The Osc SAR Scalper indicator for Metatrader 5 is an awesome oscillator that allows making rapid buy & sell trades in the short-term time frames.
The indicator is based on SAR and some digital filters for better trend prediction.
A potential profit target when using this scalping tool: anything between 7 and 25 pips.
The indicator gets displayed as trend histogram bars in a separate chart window.
How to use the Osc SAR Scalper?
- A sea-green colored histogram bar indicates a bullish trend bias.
- A magenta colored histogram bar indicates a bearish trend bias.
The following indicator inputs and parameters can be adjusted to your needs: SAR step, style, color.
How to increase your profit potential with this scalping tool?
- Utilize this tool on the low spread Forex pairs (less spread costs).
- Deploy during the most volatile trading hours.
Make yourself familiar with this technical indicator and thoroughly test and evaluate it until you fully understand how it works.
It supports all time frames and Forex pairs.
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The following chart shows how the Osc SAR Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Osc SAR Scalper Indicator?
Find a simple trading example below:
- The first sea-green colored histogram bar is a buy scalper entry signal.
- Open a buy trade and place a stop loss order below short-term support.
- Exit the buy trade for 7-25 pips potential profit, or wait for the first magenta colored bar.
- The first magenta colored histogram bar is a sell scalper entry signal.
- Open a sell trade and place a stop loss order above short-term resistance.
- Exit the sell trade for 7-25 pips potential profit, or wait for the first sea-green colored bar.
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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 OscSAR_Histogram.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