The cBar Bands Sniper Trend MT4 indicator is an easy to follow trend sensitive Forex scalping indicator that works well.
It’s sensitive to changes in the underlying currency trend and works well for scalping and day trading the market.
For best result, deploy on the lower spread currency pairs (EUR/USD, GBP/USD, USD/JPY, USD/CHF,…).
Key Takeaways
- Finds rapid entry and exit points in all market conditions.
- A white colored bar represents a buy trade opportunity.
- A red colored bar represents a buy trade opportunity.
- Works well for scalping and day trading lower spread pairs.
Learn below how to open buy and sell trades with the cBar Bands Sniper Trend MT4 indicator.
Free Download
Download the “cBar Bands.ex4” Metatrader 4 indicator
Indicator Example Chart
Here’s an example (USD/JPY M15 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The cBar Bands Sniper Trend MT4 indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy order whenever the indicator draws a white colored bar on the trading chart. This is your buy entry point.
Set stop loss 1 pip below short-term support, or use your own favorite SL method.
Exit long trade when the indicator draws a red colored bar, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed take profit, for instance, +15 pips on the M5 intraday chart.
Sell Trigger: Open a sell order whenever the indicator draws a red colored bar on the trading chart. This is your sell entry point.
Set stop loss 1 pip above short-term resistance, or use your own favorite SL method.
Exit short trade when the indicator paints a white colored bar on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed TP, for instance, +10 pips on the M1 scalper chart.
Download This Forex Indicator
Download the “cBar Bands.ex4” MT4 indicator
Adjustable Parameters & Settings
Length, deviation, money risk, signal, line, bars, color, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Usage
The indicator can be deployed as a standalone scalper trading system or strategy.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend scalper
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.