About the Forex Sniper Profit Indicator
The Forex Sniper Profit indicator for Metatrader 4 is a trend-based oscillator designed to keep traders aligned with the dominant market direction.
It focuses on momentum shifts around a central level to generate practical buy and sell signals.
Rather than reacting late, the indicator aims to capture trend continuation after temporary pullbacks.
The indicator appears in a separate MT4 window and is built around a central 0.00 middle line.
This middle line changes color to reflect market bias.
Two additional signal lines help confirm momentum direction and timing.
When combined, these elements offer a smooth and readable trading framework.
Free Download
Download the “Profit Indicator.mq4” indicator for MT4
Key Features
- Trend-following oscillator with color-changing middle line.
- Uses the 0.00 level to identify momentum shifts.
- Displays buy and sell signals in a separate chart window.
- Works on all currency pairs and time frames.
- Easy-to-read layout for fast decision-making.
Indicator Chart
The Forex Sniper Profit indicator chart shows a central 0.00 middle line with two supporting signal lines.
Color changes in the middle line highlight shifts in trend momentum.
These changes help traders identify potential continuation entries.
This allows traders to focus on trend behavior rather than short-term noise.
Guide to Trade with Forex Sniper Profit Indicator
Buy Rules
- Wait for the 0.00 middle line to turn red.
- Confirm that overall price action supports an upward trend.
- Enter a buy trade at the close of the signal candle.
Sell Rules
- Wait for the 0.00 middle line to turn green.
- Confirm that overall price action supports a downward trend.
- Enter a sell trade at the close of the signal candle.
Stop Loss
- Set the stop loss a few pips beyond the most recent consolidation zone.
- For buy trades, place it below the base of the last pullback.
- For sell trades, place it above the peak of the last corrective move.
Take Profit
- Set a fixed pip target based on the active time frame and volatility.
- Close the trade when an opposite signal appears on the indicator.
- Take profits near minor support or resistance levels on the chart.
Forex Sniper Profit + X Super Trend Candles Forex Day Trading Strategy
This day trading strategy combines the precision of the Forex Sniper Profit Indicator with the simplicity of the X Super Trend Candles Indicator.
It’s designed for traders who prefer clear visual confirmations and consistent entries aligned with market momentum throughout the trading day.
The Forex Sniper Profit Indicator uses a 0.00 middle line as its core reference.
When the middle line turns back to red, it signals a bullish reversal and a potential buy setup. Conversely, when it turns back to green, it indicates a bearish shift and a possible sell opportunity.
The X Super Trend Candles Indicator then confirms the trend visually—green candles for buy trends and red candles for sell trends.
Together, they filter out false entries and highlight accurate turning points on the chart.
Buy Entry Rules
- Wait for the Forex Sniper Profit middle line to turn back to red color.
- Confirm that the X Super Trend Candles change to green.
- Enter a buy position at the close of the confirmation candle.
- Place a stop loss 20–30 pips below the recent swing low.
- Set a take profit between 40–60 pips or exit when the candles turn red again.
Sell Entry Rules
- Wait for the Forex Sniper Profit middle line to turn back to green color.
- Confirm that the X Super Trend Candles switch to red.
- Enter a sell trade after both confirmations appear on the chart.
- Place a stop loss 20–30 pips above the recent swing high.
- Set a take profit between 40–60 pips or close when candles change to green.
Advantages
- Clear, visual confirmation for both entries and exits.
- Reduces false trades by combining momentum and trend signals.
- Ideal for day traders who monitor charts during the London and New York sessions.
- Effective across all major forex pairs, indices, and gold.
Drawbacks
- Frequent candle color changes may create noise and reduce signal reliability.
- Requires constant monitoring throughout the trading session, which can be time-consuming.
- Not ideal for very short-term scalping below the 15-minute chart due to potential false triggers.
Example Case Study 1 – EUR/USD
On the 30-minute chart, the Forex Sniper Profit middle line turned red at 1.0940, signaling a bullish opportunity.
The X Super Trend Candles confirmed with a green shift.
A buy entry was placed at 1.0943 with a stop loss at 1.0915 and a take profit at 1.0998.
Within six hours, EUR/USD climbed steadily and hit the target for a +55 pip gain.
Example Case Study 2 – USD/CHF
During the New York session, the middle line of the Sniper Profit indicator turned green near 0.9105 while the Super Trend Candles changed to red.
A sell trade was entered at 0.9103 with a 25-pip stop and 50-pip take profit.
The price dropped quickly to 0.9053 within four hours, yielding a +50 pips profit.
Strategy Tips
- Trade during active sessions (London and New York) when volatility and volume are high.
- Open a buy position as soon as the Sniper middle line turns red and candles switch to green.
- Open a sell position as soon as the Sniper middle line turns green and candles switch to red.
- Use the 30-minute or 1-hour chart for best day trading accuracy.
- Secure partial profits at 1:1 risk/reward and move your stop to breakeven.
- Avoid entering trades when candles alternate colors too frequently, as this indicates market indecision.
- Combine with a news calendar to avoid trading immediately before major economic releases.
- Maintain consistent position sizing—risk no more than 2% per trade.
Download Now
Download the “Profit Indicator.mq4” indicator for Metatrader 4
FAQ
What does the color of the middle line represent?
The color of the 0.00 middle line reflects the current trend bias.
A color change signals a potential momentum shift within the trend.
Is this indicator suitable for ranging markets?
It performs best in trending conditions.
During tight ranges, signals may be less effective.
Can the indicator be used for confirmation only?
Yes, many traders use it to confirm trend direction.
It pairs well with price action or support and resistance analysis.
Summary
The Forex Sniper Profit indicator for MT4 offers a disciplined way to follow market trends.
Monitoring momentum shifts around the 0.00 level helps traders time entries more effectively and stay aligned with the prevailing trend.
Its oscillator format keeps analysis simple and organized.
The indicator adapts well to different trading styles and time frames.
When combined with solid risk management, Forex Sniper Profit can enhance trend consistency.
