The FX Trend Sniper indicator for the Metatrader 4 platform is an awesome trend-following trading indicator that works well for any time frame.
It consists of a colored green/red signal line that appears on the activity chart.
Simplicity, the indicator tells you when it’s time to open a new trade and where to close it.
The indicator is always trading in the market, either with a buy or sell position (stop and reverse).
For scalping the currency market, it’s recommended to use the Trend Sniper indicator during the London and U.S. trading sessions.
Just load the FX Trend Sniper indicator onto the MT4 chart and start trading with it in minutes.
- A bullish trend occurs when the FX Trend Sniper signal line turns green.
- A bearish trend occurs when the FX Trend Sniper signal line turns red.
- Works on any currency pair and time frame.
- Provides the entry and exit level.
Feel free to explore the FX Trend Sniper indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart (USD/CHF M15 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 FX Trend Sniper MT4 Indicator
Buy Signal: Open a buy trade as soon as the signal line reverses color from red to green. The trend is now upwards.
Set your stop loss below the most recent support level, or use your own favorite stop loss strategy.
Exit the buy trade for a fixed profit target of your preference, or simply wait until you get an opposite sell signal.
Alternately, apply your own take profit method to close the buy trade.
Sell Signal: Open a sell trade as soon as the signal line reverses color from green to red. The trend is now downwards.
Set your stop loss above the most recent resistance level, or use your own favorite stop loss strategy.
Exit the sell trade for a fixed profit target of your preference, or simply wait until you get an opposite buy signal.
Alternately, apply your own take profit method to close the sell trade.
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R period, Type, colors, levels, visualization.
Characteristics of This Trading Indicator
Currency Pairs: Any (Major, Minor, Exotic)
Trading Time: Around the clock
Time Frames: M1 – D1
Indicator Type: Trend
Trading Platform: Metatrader 4
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.