Sniper Forex Trading Strategy

The Sniper forex trading strategy is a trend following scalping method that is to a large degree sensitive to price changes on the 1-Minute, 5-Minute and 15-Minute chart.

Scalpers can rely on this amazing strategy to boost their trading results – this is a must have system that keeps things simplified, but at the same time profitable.

Chart Setup

MetaTrader4 Indicators: SeNSetiVe.ex4 (default setting), RoundPrice-Ext.ex4 (Input Variable modified; t3_period=16.0)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute

Recommended Trading Sessions: Any

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicator or chart pattern gets displayed:

  1. If the lines of the RoundPrice-Ext.ex4 custom indicator intersects, with the purple upper outer line cutting across all the lines to realign itself at the lower outer bottom (refer to Fig. 1.0), price is said to be pushed higher i.e. a signal to buy the currency of interest.
  2. If the dark blue line of the SeNSetiVe.ex4 custom indicator breaks and stays above the 0.00 signal level as depicted on Fig. 1.0, price is said to be bullish, hence a trigger to go long on the pair of interest.

Stop Loss for Buy Entry: Place stop loss 2 pips below support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions holds sway in the market:

  1. If the line of the RoundPrice-Ext.ex4 custom indicator narrows in, eventually intersecting in a manner that sees the purple lower outer line cutting across the lines to reposition itself at the upper outer line or look out for when price opens and closes below the lines, an exit or take profit should be considered.
  2. If the dark blue line of the SeNSetiVe.ex4 custom indicator breaks below the 0.00 signal level during a bullish trend, it is a sign pointing to weaning bulls power, hence an exit or take profit is advised.

Sell Entry Rules

Enter a sell in the market if the following indicator or chart patterns take center stage:

  1. If the lines of the RoundPrice-Ext.ex4 custom indicator intersects with the purple line aligning on the upper outer top position (refer to Fig. 1.1), price is said to be pushed lower i.e. a signal to sell the currency of interest.
  2. If the dark blue line of the SeNSetiVe.ex4 custom indicator breaks and stays below the 0.00 signal level as depicted on Fig. 1.1, price is said to be bearish, hence a trigger to go short on the pair of interest.

Stop Loss for Sell Entry: Place stop loss 2 pips above resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following holds true:

  1. If the line of the RoundPrice-Ext.ex4 custom indicator narrows in, eventually intersecting in a manner that sees the purple upper outer line cutting across the lines to reposition itself at the lower outer line or look out for when price opens and closes above the lines, an exit or take profit should be considered.
  2. If the dark blue line of the SeNSetiVe.ex4 custom indicator breaks above the 0.00 signal level during a bearish trend, it is a sign pointing to weaning bears power, hence an exit or take profit is advised.

Sell Trade Example

Fig. 1.1

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About The Trading Indicators

The RoundPrice-Ext.ex4 custom indicator is a useful technical tool that is used to confirm the presence of market entry signals.

The SeNSetiVe.ex4 custom indicator is a momentum indicator that can be used to gauge the price strength.

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