Description
This indicator allows you to buy in an upward trend and sell in a downward trend.
Channel Sniper has two support/resistance line options to choose from when choosing the best entry ticket.
Background: MT4’s built in indicators such as Stochastic CCI and DeMarker cannot be used independently. They are used in conjunction to the trend forecast, and provide the best results when trading. The indicator is blended in order to achieve the best results while minimizing false signals. It’s not about finding the holy grail, or an indicator that is 100% guaranteed. It’s all a matter of high probability. The Channel Sniper Indicator follows the rules for profitable trading, and provides highly probable trading signals.
It can be used with any other instrument than M1 or any time frame.
What makes us different?
The price of the previous candle is used to determine the entry price at the beginning of a new candle. This allows you to trade as soon you see the signal and not wait for the candle’s close.
Signals will not be redrawn on instruments with low volatility. High volatility instruments may be replotted only rarely.
The arrows don’t flicker, and the signal is immediately cleared.
Signal is very early compared to other indicators which signal after moving away on either side.
The trend band clearly shows the direction of the trend.
Channel Sniper Indicator:
The Channel Sniper has 3 trend bands with signal arrows.
The trend bands indicate the “up/down trend” and the arrows indicate buy or sell.
When a buy signal (up-arrow) appears in an uptrend, a trade is opened.
When a sell (down arrows) signal appears in a downtrend, a trade is placed.
Consider TP and SL levels at support/resistance or curve levels. If you buy, TP is likely to be mid-curve or upper curve based on trend band.
Time frame optimal: M30/H1/H4. But it also applies to other TFs than M1.
To generate a signal for the first installation, you will need to switch time frames. Keep doing this until you get a clear signal.
This indicator is most suitable for low volatility instruments.
This system can be your holy grail if you combine it with candlestick strategies and price behaviour.
Automatically draws support and resistance lines, allowing you the option to select the best signal
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