The Forex Price Sniper Oscillator indicator for mt4 (Metatrader 4) can be categorized as an overbought & oversold type oscillator that works great in existing trends.
The indicator pops up in a separate MT4 chart window as an oscillator with 0 and 1 extreme borders.
The 0 value is oversold while 1 is overbought.
Buy & Sell Trade Example
- Open a buy trade whenever the oscillator reaches the 0 oversold value and the underlying trend is upwards.
- Open a sell trade whenever the oscillator reaches the 1 overbought value and the underlying trend is downwards.
The Forex Price Sniper Oscillator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “forex-nn-indicator.mq4” indicator for MT4
Indicator Example Chart (EUR/USD Daily)
The example chart below displays the Forex Price Sniper Oscillator mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Price Sniper Oscillator 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: Price oscillator
Does the indicator repaint? No.
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Download the “forex-nn-indicator.mq4” indicator for Metatrader 4
