Hello! Today I want to share with you a simple forex indicator that is based on several advanced algorithms. The main aim of Profit Sniper is to analyze price data and help you spot market trends with high accuracy.
The indicator advises you when to buy or sell the currency pairs. The blue target symbol is a signal that you need to enter a buy order. The red target symbol appears when you need to enter a sell order — that means the price of the currency is the highest at the current moment.
When using the indicator do not forget to set Stop Losses. You can close the trade at a comfortable Take Profit level or at the opposite signal. Make sure the Take Profit value is at least two times higher than the Stop Loss value.
What is more, it is possible to combine the Profit Sniper indicator with other indicators or use it on its own — the decision is yours to make.
Profit Sniper Indicator Installation
- Unzip the file you’ve downloaded.
- Find the file that is called “profit-sniper-indicator.ex4” and copy it.
- Open your MT4.
- Go to “File – Open Data Folder – MQL4”.
- Paste the file into the “Indicators” folder in MQL4.
- Restart your MT4.
After the installation, your trading chart will look like this:
Basic Trading Signals of the Indicator
As mentioned before, trading signals of the Profit Sniper indicator are simple and straightforward. You simply need to wait for the indicator to generate a target symbol.
The blue target symbols on the chart determine when the market is bullish, so to say when you should buy a currency pair. The red target symbol is a sign that the market is bearish, so there is strong advice to sell.
Examples of the trades:
My conclusion on the Profit Sniper Indicator
Using several indicators to trade can sometimes be confusing. Mastering the numerous lines, colors, and numbers is an uphill task. Fortunately, there are indicators that simplify Forex trading for you. And Profit Sniper is definitely one of them.
P.S.S. Check out software by Altra Forex Group here