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Sniper Signal FX Indicator Review

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Sniper Signal Fx can be located within the indicators section of the MQL 5 marketplace, it was created by Damrongwit Kongtong and was first uploaded to the marketplace on the 23rd of May 2018, it received its most recent update on the 2nd of August 2019.

Overview

The Sniper Signal Fx indicator can be used with the MetaTrader 4 trading platform, its main purpose is to detect a trend using moving averages, it will then monitor the return point on the graph by using the crossing of the Stochastic Oscillator and then predicting a buy and sell signal with arrows, alerts, and notifications.

Some examples given by the developer include:

If you install the indicator on EURUSD, timeframe M5: the indicator will detect the main trend with the Moving Average on this timeframe (for example the Moving average indicates the “uptrend” )

If the indicator detects the “uptrend”, it will monitor for Stochastic Oscillator to show “cross-up” of the mainline/signal line at the below position at the lower level.

Finally, the indicator will show an “up arrow” in the chart window and send an alert message with notification such as “BUY EURUSD”

If the indicator detects opposite conditions of the above, it will show the opposite result.

The indicator works best on the M1 and M5 timeframes and with the following currency pairs: EURUSD, GBPUSD, USDJPY, EURJPY, GBPJPY, USDCHF, and GBPCHF.

Service Cost

The indicator will currently cost you $250 to purchase it outright, this will get you up to 5 activations, there is also the option to rent the indicator, which will cost you $75 per month, or for three months it will cost you $135. There is a free demo version available but there is no information about it on the site, so it may only be used with the strategy tester within the MT4 platform.

Conclusion

There are six user reviews, they have given the indicator an overall rating of 3.5 out of 5. 

“Indicator is very good. Important to Blogging the news. Time market open-close of each currency pair. And collecting statistics for compound around investment” – A 5-star review.

“Please improve the indicator. The index is losing trades” – A 2-star review.

There is a mix of opinions, some finding it working well and others not so much, there are also a number of comments, the developer has been replying to them, there has not been a comment in 20202 so we are not sure whether it is still being actively supported, we would advise that you send your queries to the developer to check whether they are there to offer support or not before making a purchase or a rental.

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