The Forex Sniper Profit indicator for Metatrader 4 can be classified as a trend oscillator that delivers easy-to-follow buy & sell signals.
In essence, it follows the overall market trend.
The indicator pops up in a separate MT4 chart window in the form of a yellow and green colored middle line (0.00 level) + two signal lines.
Forex Sniper Profit is very reliable, lightweight, and will not slow down your trading platform.
Buy & Sell Trade Example
- Enter long when the 0.00 middle line turns back to red color.
- Enter short when the 0.00 middle line turns back to green color.
The indicator works equally well on all currency pairs (majors, minors, and exotic) and shows promising results if used correctly.
Free Download
Download the “Profit Indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Forex Sniper Profit mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Sniper Profit indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Oscillator
Does the indicator repaint? No.
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.
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Download the “Profit Indicator.mq4” indicator for Metatrader 4
