By water parameters I mean the level of ammonia, nitrIte and nitrAte present in your tank.
If you are only just beginning to keep fish, piranhas and oscars are not a good choice. Could you give me the size of your tank in gallons as 3 feet could realy be anything... Most likely, however, it isn't suitable for your current fish.
Is your tank cycled? If it is, ammonia/nitrIte should be at 0 and nitrAte should be present. Adding four messy piranhas may not be the best move towards getting good water quality or a cycled tank...
Are you new to fish keeping? If you are, I would search for info on cycling. It is essential that you understand what this is and test and maintain your water regularly to keep conditions excellent for your fish.
As for your choice of fish... oscars are very aggressive and grow very large. At 12 inches each and highly territorial, most reccomend keeping one in 75 gallons. 2 would require a much larger tank.
Piranhas are shoaling fish so 4 is a good number. However, these 4 grow to 12 inches each and a 150 gallon or more tank is reccomended to provide both swimming space and enough room for several.
The combination of oscars and piranhas is bound to cause problems IMO and you probably need a tank that is much larger than what you have.