The Sniper Forex v2 is a very profitable trading strategy especially for the daily and intra-day traders. Just as the name suggests, it is a real sniper that helps you to get aim at trading opportunities once they present themselves even when they aren’t very easily detectable with the naked eye.
Fig.1. The Sniper Forex v2 trading startegy.
It is designed to work on any currency pair. But for maximum profits, the trader should use the H1 time frame when trading. Also, this trading strategy is recommended for trading the European and American trading sessions and the best timeframe to use is the H1 timeframe.
The trading system also has sound alerts to alert the trader when a signal is given so as to prevent the trader from missing a trading opportunity.
It incorporates a variety of indicators which includes: SHMA indicator, Sniper indicator, Sniper_Stop_v2 indicator, Sniper_Trend_A indicator and the Sniper_Trend_B indicator.
The Sniper_Trend_A indicator and the Sniper_Trend_B indicator are displayed on separate charts below the main trading chart and they generate pink and aqua colored bars. The two work together to ensure that they eradicate any false signal.
The Sniper_Stop_v2 indicator generates dotted line which is pink when it goes above the candlesticks and aqua in color when below the candlesticks. It gives the level at which to place your stops. Then the Sniper indicator draws three moving averages which when below the candlesticks are aqua in color and pink when above the candlesticks.
It also comes with a template which is referred to as the Sniper Forex.tpl.
How to use the Sniper Forex v2
When to place a Buy order
The main signal to look for before placing a buy order is the aqua colored up arrow. Then the trader should confirm the signal by ensuring that the moving averages lines of the Sniper indicator changes their color to aqua and that they are below the candlesticks. Also, the bars of the histogram Sniper Trend A and Sniper Trend B painted aqua.
When to place a Sell order
The main signal to look for before placing a sell order is the pink colored up arrow. Then the trader should confirm the signal by ensuring that the moving averages lines of the Sniper indicator changes their color to pink and that they are above the candlesticks. Also, the bars of the histogram Sniper Trend A and Sniper Trend B painted aqua.
For either the long (buy) or the short (sell) position, the trader should always set the stop loss at the level of the dotted line of the Sniper Stop indicator.
Fig.2. How to use the Sniper Forex v2 trading startegy.
When using the Sniper Forex v2 trading strategy, the trader should always be very cautious of the level of his or her take profit. The take profit should be placed at most at 30 pips away from the placed order. But once the market prices gets to 20 pips, the trader should move his or her stop loss to break even. By break even we mean that the stop loss should be moved to the level at which the order was placed.
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