The German Sniper indicator for Metatrader 4 is a complete Forex trading system that comes with the exact entry signal + take profit target.
You only need to wait for a new trading signal to appear on the main trading chart.
This indicator also displays the suggested stop loss level for both long & short trades.
For our testing, the indicator works pretty well and often wins 75% of its trades.
You can apply this system to any time frame, ranging from M1 charts up to the monthly charts.
Key Features
- Complete Forex system
- Solid buy & sell signals
- Newbie friendly
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a buy & sell trend confirmation tool.
Free Download
Download the “German Sniper Indicator V1.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 1-hour chart below shows the German Sniper indicator in action.
Basic Trading Signals
BUY:
- A buy signal is given when the German Sniper indicator displays the “SMART BUY” yellow line.
- Enter the exact stop loss suggestion for the buy trade.
- Exit the buy trade at the suggested “TAKE PROFIT HERE” blue line for buy signals.
SELL:
- A sell signal is given when the German Sniper indicator displays the “SMART SELL” yellow line.
- Enter the exact stop loss suggestion for the sell trade.
- Exit the sell trade at the suggested “TAKE PROFIT HERE” blue line for sell signals.
Download Now
Download the “German Sniper Indicator V1.ex4” MT4 indicator
Enhanced Trading Strategy: Combining German Sniper Indicator with Vortex Indicator
Overview
To improve the reliability of trade signals, this strategy integrates the German Sniper Indicator with the Vortex Indicator.
While the German Sniper Indicator provides precise entry, stop loss, and take profit levels, the Vortex Indicator confirms the strength and direction of the trend, helping to filter out false signals.
Required Indicators
- German Sniper Indicator: Provides clear buy/sell signals along with suggested stop loss and take profit levels.
- Vortex Indicator: Measures trend strength and direction by plotting two oscillating lines (VI+ and VI-).
Trading Rules
Buy Setup
- Wait for the German Sniper Indicator to display a “SMART BUY” yellow line.
- Confirm that the VI+ line of the Vortex Indicator crosses above the VI- line, indicating a bullish trend.
- If both conditions are met, enter a long position.
- Place a stop loss as suggested by the German Sniper Indicator.
- Set a take profit target at the level indicated by the German Sniper Indicator or use a risk-to-reward ratio of at least 1:2.
Sell Setup
- Wait for the German Sniper Indicator to display a “SMART SELL” yellow line.
- Confirm that the VI- line of the Vortex Indicator crosses above the VI+ line, indicating a bearish trend.
- If both conditions are met, enter a short position.
- Place a stop loss as suggested by the German Sniper Indicator.
- Set a take profit target at the level indicated by the German Sniper Indicator or use a risk-to-reward ratio of at least 1:2.
Tips for Implementation
- Apply this strategy on time frames of 30 minutes or higher to reduce market noise.
- Use additional tools like support and resistance levels to identify optimal entry and exit points.
- Always test the strategy on a demo account before applying it to live trading.
Strategy Conclusion
By combining the precise signals of the German Sniper Indicator with the trend-confirming capabilities of the Vortex Indicator, traders can enhance the accuracy of their entries and exits.
This integrated approach aims to provide more reliable trading opportunities in various market conditions.
Adjustable Parameters & Settings
Colors, style
Technical Specifications
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: system
How to install the German Sniper Forex indicator in Metatrader 4?
- Copy and paste the German Sniper Indicator V1.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
