The SAR Scalper Oscillator Forex indicator for Metatrader is a stop and reverse trading system that provides easy to follow signals for scalpers.
This indicator is super easy to use and gets displayed as a colored buy/sell trend oscillator in a bottom chart window.
For scalpers, the system tends to deliver the best results during the London and American trading session.
How to interpret the SAR Scalper indicator?
- A bullish trend occurs when the colored SAR histogram bars are positioned below 0.
- A bearish trend occurs when the colored SAR histogram bars are positioned above 0.
The following indicator inputs and parameters can be modified: SAR step (0.02), SAR maximum (0.02).
The indicator works for any trading instrument (Forex, Stocks, Indices, Metals, etc.) that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the SAR Scalper Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The SAR Oscillator Signal Indicator?
Find a simple trading example below:
- A buy signal is given when the SAR histogram bar turns back below zero.
- Open a long transaction and place your stop loss 3 pips below immediate support.
- Exit the buy trade for 8-20 pips profit (depends on your chosen time frame).
- A sell signal is given when the SAR histogram bar turns back above zero.
- Open a short transaction and place your stop loss 3 pips above immediate resistance.
- Exit the sell trade for 8-20 pips profit (depends on your chosen time frame).
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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 SAR_Oscillator2.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