German Sniper Indicator - earn at least 50 pips per day
German Sniper Indicator uses algorithmic market analysis to generate entry points in safe zones so that we can open trades with minimal drawdown. These are all beautiful words of the sellers of this miracle of the forex industry. What exactly is the German Sniper Forex Trading Indicator? Let's see.
Characteristics of the German Sniper Indicator
- Platform: Metatrader4
- Currency pairs: Nas100 and German30 or major currency pairs
- Trading Time: Any trading sessions
- Time Frame: Any, recommended H1 and H4
- Recommended broker: Roboforex, XM, FBS
How it works?
The developers position this indicator for intraday trading and, if possible, on Nas100 and German30. But I think this is not essential, and it can be successfully applied in other trading styles (scalping, swing) and other trading assets, such as major currency pairs. The indicator is not repainted, only the Take Profit level can change when the price approaches it.
The indicator is easy to use and when you attach it to the chart, you will immediately receive the current trading signal with the entry point and TP. Also in the corner, the indicator will calculate the current Profit/Loss (P&L). It's comfortable. But you won't be able to change anything in the indicator, since its settings are not available.
Thus, to enter a trade, we only need to wait for the indicator signal and follow it.
I recommend setting Stop Loss at the level of the nearest local minimum/maximum, but not more than 1/3 TP.
A few examples of successful indicator trading signals from my backtest (click to zoom):
Of course, you should not use the indicator without additional filters. And you definitely need a competent Money Management.
In principle, the statistics of the indicator signals are not bad, and if you additionally apply the martingale method and set a stop loss equal to 1/3 of the take profit, then such a trading system based on this indicator will be profitable. But I didn't have enough time to test it well on history. Only a few months on the EURUSD pair and this is not enough for a full conclusion. Perhaps some of you will devote more time and effort to this. Share your thoughts on this in the comments or in our Teleramm channel.
In the archive German_Sniper_Indicator.rar (240.0 Kb):
- German Sniper Indicator V1.ex4
- German FX templ.tpl
Free Download German Sniper Forex Trading Indicator