The DPO Sniper Trend Signal Oscillator for Metatrader 4 is a dual colored momentum indicator that captures the most profitable trends before they occur.
The indicator pops up on the chart as a colored histogram filled with blue and red trend bars.
You can use it to scalp on the lower time frames for 10-40 pips per trade or swing trade on the H1, H4 and daily charts for 75-250 pips per trade.
The main idea behind the DPO Forex sniper indicator is to benefit from the trend that develops in its early stages.
Just load the DPO Forex Sniper Trend Signal Oscillator indicator onto the Metatrader 4 chart and start trading with it.
Key Takeaways
- A red DPO Sniper histogram represents a down trending currency market.
- A blue DPO Sniper histogram represents an up trending currency market.
- Does not repaint its colored trend bars.
- Works for scalping, day trading and swing trading pairs.
Feel free to explore the DPO Sniper Trend Signal Oscillator indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “dpo-histogram-indicator.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The DPO Forex Sniper Trend Signal Oscillator MT4 Indicator
Buy Signal: Execute a buy trade when the DPO Forex Sniper indicator draws its first blue bar on the chart. This is your buy entry point.
Set your stop loss below support or consolidation area, or use your own favorite stop loss method.
Take your profit when the DPO Forex Sniper indicator draws its first red bar on the chart (sell signal), or use your own favorite take profit method.
Alternatively, exit the buy trade for a fixed profit target. For example, close the trade for 25 pips on the M5 chart.
Sell Signal: Execute a sell trade when the DPO Forex Sniper indicator draws its first red bar on the chart. This is your sell entry point.
Set your stop loss above resistance or consolidation area, or use your own favorite stop loss method.
Take your profit when the DPO Forex Sniper indicator draws its first blue bar on the chart (buy signal), or use your own favorite take profit method.
Alternatively, exit the sell trade for a fixed profit target. For example, close the trade for 40 pips on the M30 chart.
Download This Forex Indicator Now
Download the “dpo-histogram-indicator.ex4” MT4 indicator
Adjustable Parameters
Average mode, X period, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: oscillator
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
