The Cronex Scalper oscillator designed for Metatrader 5 generates robust trade entry signals that work out of the box for scalpers and intraday traders.
The indicator gets displayed in a bottom chart window as a series of consecutive histogram bars oscillating above and below 0.
How to trade with the Cronex Scalper?
- A colored histogram bar above 0 is considered bullish.
- A colored histogram bar below 0 is considered bearish.
The indicator contains the following inputs and parameters: period, colors, and style.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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colorcoeffofline_true.mq5 Indicator (MT5)
Chart Example
The picture below shows what the Cronex Scalper oscillator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Cronex Scalper Oscillator?
Find a simple trading example below:
Buy Signal
- Buy market condition: it is crucial for the market trend to demonstrate a clear uptrend (see chart example above).
- A buy entry signal is given when the histogram bars cross the zero level bottom up.
- Exit the buy trade for 10-35 pips profit, or hold the buy trade until the first bar turns back below 0.
Sell Signal
- Sell market condition: it is crucial for the market trend to demonstrate a clear downtrend.
- A sell entry signal is given when the histogram bars cross the zero level top down.
- Exit the sell trade for 10-35 pips profit, or hold the sell trade until the first bar turns back above 0.
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colorcoeffofline_true.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 colorcoeffofline_true.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