The Odin Scalper indicator designed for Metatrader 5 delivers robust 100% non-repaint scalping signals to both Forex scalpers and day traders.
Odin consists of a series of pink and turquoise colored signal dots, mainly generated by the 4 TF William Percent Range indicator.
Here’s how the simple trade logic works:
- Turquoise colored dots indicate an uptrend.
- Pink colored dots suggest a downtrend.
The Odin indicator offers several inputs and parameters: period 1, period 2, period 3, period 4, overbought level (-20), oversold level (-80), vertical distance (2).
It is highly recommended to gain confidence in the Odin Scalper indicator by testing it extensively on a demo account.
This will allow you to familiarize yourself with its performance over an extended period.
Download Indicator 🆓
x4period_wpr_arrows.mq5 Indicator (MT5)
Chart Example
The image below shows how the Odin Forex Scalper looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Utilizing The Odin Forex Scalper Indicator?
Find a simple trading example below:
Buy Signal
- A buy entry signal is given when the turquoise colored Odin dot gets displayed on the price chart.
- Open a buy scalper trade and add a stop order below support.
- Exit the buy trade for a potential 10-25 pips profit, or hold and wait for the next sell signal.
Sell Signal
- A sell entry signal is triggered when the pink colored Odin dot gets displayed on the price chart.
- Open a sell scalper trade and add a stop order above resistance.
- Exit the sell trade for a potential 10-25 pips profit, or hold and wait for the next buy signal.
Download Now 🆓
x4period_wpr_arrows.mq5 Indicator (MT5)
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 x4period_wpr_arrows.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