Do you want an accurate trend trading indicator to help you find buy and sell signal opportunities? If so, a FX Sniper indicator could be for you.
While these indicators are called ‘FX Sniper indicators,’ you can use them in different markets to find the same signals.
In this post, we go through what FX sniper indicators are, how to use them in your trading and how to use them in your MT4 and MT5 charts.
NOTE: Want a complete list of some of the very best free MT4 and MT5 indicators you can use in your trading? You can get them below.
Table of Contents
What is the FX Sniper Indicator
The FX sniper indicator is a trend-following indicator that can quickly identify the change in a trend.
After finding any particular changes in the direction of the trend, the FX Sniper indicator can quickly give you buy and sell signals.
New and beginner traders will be most suited to these indicators as they can help you find the trend or when the trend is changing, making it far easier to find trend trades.
More advanced traders can use this indicator to find high probability trades with their other more advanced indicators.
FX Sniper indicators are often used to scalp markets on smaller time frames, such as the 5-minute chart; however, you can use these indicators on higher time frames to find trending markets. This can help you find high probability trades on higher time frames.
How to Use the FX Sniper Indicator
The first thing you will need to do with this indicator is download it and install it into your MT4 or MT5 charts.Note: Don’t know how to install and use these indicators? Read How to Download, Install and Use MT4 and MT5 Indicators.
After you have installed the FX sniper indicator into your charts, you then need to do the following;
- Open your charts.
- Then select “Insert” >> “Indicators” >> “Custom”.
- Find the FX Sniper indicator you have installed into your platform and click to insert it into your chart.
The other easy way to use the FX sniper indicator is to install it into your trading platform. Then click on “View” >> “Navigator” inside your charts. This will open up a box. Then find the indicator, and with your mouse, drag it onto the chart you want to use it on.
FX Sniper Indicator for MT4
This FX Sniper indicator for MT4 is straightforward to download and start using in your trading.
This indicator will quickly help you find when the price in a market has moved far higher or lower, and a price reversal could soon be coming.
By default, this indicator will give you orange arrows on your chart to indicate where the price could soon be moving. The good thing about this indicator is that it does not repaint any signals, so you can see how previous signals played out.
After installing this indicator, you will be given settings and inputs that you can change to suit your own charts. These include the maximum amount of bars to use, what color you want to use, and you can also set up different kinds of alerts.
While this indicator is called the FX Sniper indicator, you can use it in other markets such as stocks or crypto.
This is a premium indicator, but you can try a free demo to see if it suits your trading.
FX Sniper Indicator for MT5
This MT5 FX Sniper indicator is by the same creator as the MT4 version.
Like the MT4 sniper indicator, this indicator will help you spot when the price could be looking to reverse its current trend.
While it is called the MT5 FX sniper indicator, you can use it on other markets and your favorite time frames.
This is a non-repainting indicator, meaning signals will not disappear after being added to your charts.
A handy feature of this indicator is that you can create alerts with it, meaning you will not miss any potential trades.
This is a premium MT5 Sniper indicator, but you can test it with a free demo version.
While these indicators are often used for scalping, you can use them on higher time frames to find clear trends.
If you are a more experienced trader, you could look to use these indicators with your other favorite technical analysis and indicators. These could include using candlestick patterns or other popular indicators such as moving averages or the MACD.
As with any new indicator you are testing, it is crucial you test it on free demo charts before risking any real money.