Obie Sniper
- Indicators
- Obaida Kusibi
- Version: 1.0
Obie Sniper Introduction
The Obie Sniper indicator provides the best Entry and Exit points.
The simplicity of the Obie Sniper MT4 indicator makes it easy to apply and trade the forex signals successfully.
- This indicator works well for scalpers using the M5 and M15 charts. At the same time, swing traders can use the H1 and H4 charts to identify the trend and trade them successfully.
- This indicator is best suitable for new forex traders. Because it helps to identify trends and start trading within a minimum time visually. However, advanced forex traders can incorporate the indicator with other trading indicators and tools in any trend trading environment.
- A BULLISH trend is displayed in GREEN color, while the BEARISH trend is shown in the RED color indicator line.
- As a result, the color of the indicator line changes from GREEN to RED once the trend changes from BULLISH to BEARISH.
Entry Point
The identification of an entry point is pretty simple and straightforward. Traders can enter the markets with a BUY position once the GREEN color line is formed, with a stop loss below the previous swing low.
Forex traders can continue holding the positions, riding the trend wave, and exiting at the opposite signal. Oppositely, traders can initiate a SELL trade upon forming the RED color indicator line with a stop above the previous swing high.
Exit Point
The best exit of the SELL position shall be upon an opposite signal. However, Stop Loss and Take profit based on risk to reward ratio is also a part of an excellent trading plan. For a BUY position, forex traders can measure the Stop loss to the previous swing low. And use a risk to reward ratio of 1:2 or higher to determine the Take profit.
