The T3 Forex Sniper indicator for Metatrader 5 identifies short-term trends and works well if you are looking for 8-20 pips profit per trade.
The indicator consists of two gray colored bands and buy/sell colored candlesticks.
The T3 Forex scalper delivers the best trading results in the London and New York trading sessions.
T3 Candle colors explained:
- A green colored candle is a bullish signal.
- A red colored candle is a bearish signal.
For maximum profit, deploy the indicator on the lower spread currency pairs.
The indicator contains the following inputs and parameters: T3 period, T3 volume factor.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the T3 Forex Sniper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The T3 Forex Sniper Indicator?
Find a simple trading example below:
- A buy signal occurs when the green candle crosses above the upper T3 gray band.
- Open a buy trade and place your stop loss below the lower T3 band.
- Close the buy trade for 8-20 pips profit, or utilize your own favorite take profit strategy.
- A sell signal occurs when the red candle crosses below the lower T3 gray band (see chart above).
- Open a sell trade and place your stop loss above the upper T3 band.
- Close the sell trade for 8-20 pips profit, or utilize your own favorite take profit strategy.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the T3_Price_Overlay.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration