The Forex Sniper Buy/Sell trading system for MT4 consists of just one technical indicator and provides great trade entry and exit signals.
When used correctly, the win rate exceeds 75% over a prolonged trading period.
System Components
The indicator is a complete Forex system and appears in both the main chart and the bottom chart.
The bottom part of the chart reveals the trend direction:
Red trend bars indicate a bearish trend, yellow bars a sideways trend, and green colored bars a bullish trend.
The actual buy and sell trade entry arrows appear in the main screen:
Green arrows are buy signals, while red arrows are sell signals.
After downloading and installing the indicator on the MT4 trading platform, it should look like the image shown below.
Key Points
- Complete Forex system
- Non-repaint trading signals
- Beginner friendly
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple buy/sell entry confirmation tool.
Free Download
Download the “Forex Buy Sell Sniper V15.0.ex4” MT4 indicator
Indicator Example Chart
The AUD/USD 5-minute chart below shows the Forex Sniper Buy/Sell trading system in action.
Basic Trading Signals From This Trading Tool
Signals from this trading system for Metatrader 4 are easy to interpret and go as follows:
BUY:
- A valid buy signal is given when the bottom chart is colored green and a green arrow appears in the main screen (see chart).
- Place the stop loss below the blue trading support line.
- Take profit when the price reaches key resistance.
SELL:
- A valid sell signal is given when the bottom chart is colored red and a red arrow appears in the main screen.
- Place the stop loss above the red trading resistance line.
- Take profit when the price reaches key support.
Download Now
Download the “Forex Buy Sell Sniper V15.0.ex4” MT4 indicator
RSI Confirmation Strategy for Sniper Buy-Sell System
To increase the accuracy of your trades with the Forex Sniper Buy Sell Trading System, you can add the Relative Strength Index (RSI) as a filter confirmation tool.
The RSI helps filter out false signals and provides insight into market momentum.
Indicator Setup
- Indicator: Relative Strength Index (RSI)
- Period: 14
- Levels: 30 (Oversold), 70 (Overbought)
Buy Entry Rules
- A buy signal appears on the Sniper Buy Sell system (blue arrow or alert).
- RSI is below 30 and starts to slope upward (crosses above 30).
- Confirm that the price is not near a major resistance zone.
Sell Entry Rules
- A sell signal appears on the Sniper Buy Sell system (red arrow or alert).
- RSI is above 70 and starts to slope downward (crosses below 70).
- Confirm that the price is not near a major support zone.
Stop Loss and Take Profit
- Stop Loss: 10-20 pips below the recent swing low (for buy) or above the swing high (for sell).
- Take Profit: 2x the stop loss distance or trail manually using support/resistance zones.
Additional Tips
- Best used on M15 to H1 timeframes.
- Avoid trading during major economic news events.
- Combine with a trend filter (like a 50 EMA) for added confirmation.
Adjustable Parameters & Settings
Period, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This System
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: Signals
How to install this buy/sell Forex system in Metatrader 4?
- Copy and paste the Forex Buy Sell Sniper V15.0.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
- Close and restart the trading platform
- Add the indicator to a chart to get started
