Sniper Forex Trading Strategy

2025.12.02 2022.05.17 Sniper Forex Trading Strategy

Oleg Tkachenkohttps://www.litefinance.org/blog/authors/oleg-tkachenko/

Just a few years ago, you could buy the Sniper forex strategy for $100 and more. Dozens of trader blogs, brokers and information resources offer the Sniper strategy, there even single-page landing, and the Sniper price action strategy has at least 5 complete variations. This a Price Action strategy (doesn’t apply any indicators, based on defining local and global psychological levels in different timeframes. Is it worth buying? Does it make any sense to spend your time on studying the Sniper trading system? You will find the answers to these questions in this article.

Sniper Forex trading strategy: all new is well overlooked old?

Tell me, how do you estimate the efficiency of technical analysis tools? They are commonly criticized for lagging, the need for constant optimization, the inability to react to force majeure and so on. Even if you add multiple moving averages and oscillators to your chart, they are likely to indicate opposite situations, so, it is hard to make trading decisions. If out of hundreds of existing indicators, no tool can provide accurate information, does at all it makes any sense to apply indicators to trading?

Traders using a non-indicator trading strategy the Price Action do not think indicators to be useful, that is the feature of the price action trading style - no indicators employed. Price action traders believe that market moves entirely depend on the psychology of the majority of traders. If we remember the “mass psychology”, there is some sense. Price Action trading tools are not so numerous as technical indicators, but this system includes quite unusual trading strategies. One of the price action trading strategies is the Sniper trading system that was thought to be one of the most popular in the commercial segment in 2012-2018.

Introduction to Price Action trading forex without indicators

Price Action describes the characteristics of price movements. The founder of technical analysis Charles Dow considered that a price chart itself contains all the necessary information. The price action already includes political, economic and psychological factors, so the trades do not need to read much of analytical information. Everything is already reflected in the price chart, so, you only need to analyze the price moves, and technical indicators are useless here as they do not have flexibility (swift response to the market change).

The price action theory takes into account the following moments:

• In the short term, the market is chaotic, so, the method is effective in long-term trading or as the basis of day trading strategies.
• The theory is based on emerging price chart patterns that reflect the sentiment of the majority. Here, the focus is on the trader psychology who in many cases behave in the same way.
• The system works when the market is trending, so, the trader may follow the majority. One will hardly earn in long-term flat trend, taking into account the swap costs.

Price Action tools are mostly price chart patterns (regularly emerging chart formations), support and resistance levels, having different variations of constructing (Fibonacci, round numbers and so on). The comparison of the Price Action system and indicator trading may be represented as a table:

There is a natural question. If you use indicators to discover price patterns and levels, will this trading strategy refer to a non-indicator Price Action system? I suggest we discuss this idea in the comments.

Forex Sniper trading strategy: trading algorithm, benefits, and flaws

The Sniper strategy Forex is a Price Action strategy. The idea was suggested by Pavel Dmitriev about 10 years ago, and there are comments that this is just another upgraded version of such trading strategies as Meat, Meat 2, and Alive System. If you want, you may find more information on the Internet and share it in the comments.

A remarkable fact. When this strategy was released, hardly anyone knew about Pavel Dmitriev. But everything changed when there were created dozens of groups in social media, accounts on trader forums, where the Sniper strategy was being actively discussed. At an initial stage, strategy costs about $300-$500.

To attract beginner traders, the broker-kitchens and so-called business coaches offered a course teaching the strategy for free or with a significant discount, which increased the interest in the strategy, and the hype around it. And a training course here was really needed. Common trading based on important levels was hidden so intricately that it was quite hard to understand it. It is not clear why should you apply a tactic that has so many difficult points and you should spend time studying its basics. There many simple trading strategies for beginners, why should one buy a complex one for big money? The answer is a professional marketing campaign.

The Sniper trading strategy breaks some of the Price Action principles in some way. It is designed for short, 5-minute intervals within a day with a short range of profit for one trade, so the strategy can be referred to as scalping in a way.

To disguise the classical theory of technical analysis that is the basis of the Sniper strategy, the developer introduced his own terminology.

• Bank Level (BL) is the level where the previous daily bar closes. The time is Greenwich Mean Time.
• Levels are drawn according to the price highs and lows recorded on the previous day.
• Total Impulse Levels (TIL) are the support and resistance levels that are built on longer timeframes (M30 — H4).
• The level of Sharp Change in Trend (LSCT) is seen by the candlestick with a long shadow in the trend direction in the short (M5 – M15) timeframe. Simply put, the candlestick that marks the key level breakout and the start of the opposite move.
• Impulse levels (IL) are the support and resistance levels that frame a flat in the M5 timeframe.
• Safe means exiting half of the trade by a take profit put at the same distance than a stop loss.

Basic rules of the Sniper trading strategy including the author’s recommendations:

• You trade only when the market is trending
• You enter trades only in the short-term timeframe. The major working timeframe is M1 or M5.
• The trades are entered at the extreme price levels hit on the previous days, so two charts are used for the analysis
• The bank levels are used to determine the entry points, these are the strong levels of the previous days where experienced traders enter the highest number of trades
• The total impulse levels in the hourly timeframe are used to validate the entry signals.
• The trade is exited according to the “safe rule” (opening the position by two orders). After you take a profit of a few points, 50% of the position is closed. The profit size before the partial profit taking is the same as the stop loss size. If after the partial profit-taking, the price will reverse and hit a stop loss, the trade will break even.

A target profit is 30-50 pips a day from 1-3 trades.

Step 1. Common technical analysis suggests an initial analysis of a longer timeframe to determine the trend direction and the zone of accumulation of sellers/buyers, that is the zone where are the majority of buy or sell positions opened. The strategy developer suggests you start to construct the levels based on the so-called Bank Level, which means a three-hour shift before the day close relative to 00.00 Moscow time (remember, the author is from Russia). He claims that a point of 21.00 Moscow time is the determining point where the banks’ transactions are closed (to avoid swap).

And because banks are the primary market-makers and the liquidity providers, their trades may mark a strict price level.

On one famous investment forum, I saw the results of interesting research. It reads that the trading systems operating on the timeframes of H1 and longer are not sensitive to the different GMT of brokers. Besides, the way to draw a reversal pattern based on the previous close was already described earlier, so the author hasn’t created anything innovative.

• I do not think this step makes any sense

Step 2. The bank level is just a reference line, while the primary limit levels are the price extremes of the previous day.

The framework graphically looks like this. The trader should draw the levels along with the high and the low of the previous day (yellow lines in the figure). Once the price breaks out one of these levels next days and reverses, one should enter a trade. In this example, it is a buy trade.

Here, I should also mention another common term in the strategy, Consolidation Zone. After most of the trades are exited ahead of the end of the trading day for the sake of saving on the swap fees, the Asian trading session starts that features relatively low volumes of trades. Because of low liquidity, there emerges the Consolidation Zone that is basically a night flat.

The above figure displays the examples of such flat consolidation zones, when, form early evening to early night the range of price fluctuations gets considerably lower.

Step 3. Identification of the Total Impulse Levels (TILs) in the longer timeframes and Impulse Levels (Ils) in the shorter timeframes. The Impulse Level means a range of prices in the short-term timeframe, which is a short section of the price flat movement. Or, it is a common sideways trend.

There is not a common opinion on the identification of the consolidation zones and the impulse levels, according to arguments on trader forums. Many see just no difference between these concepts, and I agree in a way with them. I want to stress that the screenshots presented in the articles are just some examples of what the strategy author means. All these zones are identified subjectively!

The level of a sharp change in trend is a common pin-bar that is a candlestick whose shadow in the trend direction is longer than that of others.

Rules for entering trades. The Sniper trading system suggests basing on the extreme price levels of the previous day identified in the longer timeframes. After the extreme price levels of the previous day are drawn and projected into the current day, one identifies the consolidation zones and flats in the short-term chart and paints local impulse levels within daily extremes.

Ways to enter trades:

• Trades in the trend direction. Each trade is entered according to a pin-bar at the moment of the impulse level’s breakout, the levels formed in the consolidation zones on the M1-M5 timeframe towards the boundaries of the daily channel.
• Trades counter the trend. Trades are entered on the rebounds from the bank levels or TILs. That is, on the rebounds from the boundaries of the global daily channel, or the levels formed by market makers.

There may be variants for the conditions to determine a false or a true breakout. According to one of the versions, a true breakout is a pin-bar that is at least 4 pips longer than the breadth of the local IL range. According to another version, one should enter a trade if the price rebounded from the upper or lower boundary is more than 15 pips (the flat range on M1-M5 chart is usually less, so such retracement may signal the sideways trend breakout).

Rules for exiting a trade. The volume that you enter a trade must be shared into two orders. The first order is closed at the take profit that is set at the same distance from the entry as a stop loss. A stop loss, in case you enter a trade in the trend direction (when the local M1`impulse levels are broken out), is set at the level of the extremes (shadows) of the range (10-20 pips).

There is a narrow range on the M1 chart (I don’t analyze long time frames). The stop loss size is about 1- pips (red line). Once the lower boundary of the range is broken out, you enter a short trade with two orders (yellow line). The take profit is equal to the stop loss (green line).

If you enter a trade counter the trend (when the price retraces from the TIL in long timeframes), you exit the trade in the same way. The only difference is that you put a take profit based on the flat patterns in the short timeframe.

My notes:

• The strategy doesn’t work at the moment of news releases, that is when the market is chaotic and can’t be predicted.
• You mustn’t enter trades within the impulse range.
• You shouldn’t trade multiple currency pairs at a time. Try to master the strategy at least for one currency pair, as it is rather confusing.
• The theory is good. But is hard to track all these patterns if are not trained, especially in the short timeframe. So, I do not think this strategy is good for newbies, and the professional traders already make profits trading based on patterns and strong levels.

The Sniper strategy is not a “Grail”. This is rather a result of a well-designed marketing campaign. The strategy developers based on the common truths of technical analysis, combined them with risk management rules and added complex terms in the description (they are trading basics described with “smarter” terms). This gave hope to the beginners that there appeared a really winning low-risk trading strategy. Next, the strategy was spread on the Internet accompanied by grateful comments, which made the product commercially successful.

Advantages of the Sniper trading strategy:

• The forex trading strategy Sniper is a good training tool for the demo account, it will teach you to discover emerging candlestick patterns, visually determine the horizontal levels, and so on, which is good in all types of trading. And, of course, it will train to follow risk management (that is the discipline).

That is all about the Sniper good points.

I wouldn’t recommend setting a target based on this strategy alone. It makes sense to use some of its rules together with indicators.

Flaws of the trading system Sniper:

• The description is confusing, so it is hard to understand the rules. Classical trading horizontal levels (most commonly used as an additional tool) is so confusing here, that it is difficult to decipher it even after reading the description a few times. Different Internet sources give different interpretations of the Sniper strategy.
• The strategy can hardly be automated. It can be traded only manually. And because it is a price action strategy and doesn’t use any indicators, you can’t test it on the historical data.
• The strategy is efficient only provided you strictly observe its rules. You can’t experiment with it. However, the rules are so vaguely described that everybody interprets them in their own way. So, much of success depends on the skills and the intuitions of the trader.

During the analysis, there are a lot of discrepancies in the identification of the support and resistance levels and flat zones.

The trading system Sniper is a common technical analysis with the differently named terms. It has many times been upgraded and improved by the designers ( there are at least 4 upgraded versions), it hasn’t been radically changed. The upgrades were launched to rather keep the interest of beginners and to support the created marketing environment. One of such upgrades is the Sniper X.

Sniper X: the sky is the limit

I have generally analyzed the Sniper strategy and a few of its upgrades appeared in 2015-2017. What else could be done with the classics of technical analysis? The developers wouldn’t like to stop. As early as in 2018, there appeared another variation of the Sniper strategy on the Internet. It is Sniper X and it has the following difference from the original version:

• You can use it in medium- and long-term trading (the previous version used by day traders suggested only short-term trading).
• There is a new working algorithm for corrective price moves that allows one to accurately identify the correction zones.
• One can add up to a short position in a strong trend (a cascade entry point, according to the developers’ terminology).
• The IL and the TIL are replaced by a new term, it is the local and the global level of disbalance, the construction algorithm is also improved).

The Sniper X developers claim that the problem of identifying the local micro-trends (the price direction on M1-M5 timeframe) has been solved. There have been also developed the templates if the price behavior when it is approaching the support or resistance levels. I haven’t tested how the announced improvements meet reality and how much the strategy is close to the grail. If you have enough will and patience to study the Sniper X system thoroughly, write about the results in the comments. Thank you in advance!

Forex sniper EA

From a general point of view, a forex EA is a metatrader friendly software application developed to help forex traders generate forex trading signals and probably trade the forex market with those signals bases on a stipulated structured computer program without any human input in the process of the trade. The forex market accounts for over 5 trillion USD on a daily basis, and there is a robot that can help you get some of that money without your input – even dummies are bound to develop interest and that is where all the negative reviews about forex robots come from.

There is more to forex EA than what we readily hear about it, and there are different types of forex EA available in the forex market, one of which is the sniper suite EA. What is the sniper suite EA all about, and what makes it different from other EAs?

FOREX SNIPER SUITE

Like many other professional traders, Jeremy Delton created the forex sniper suite, a forex expert adviser that help forex traders trade the forex market and make some good profits. The forex sniper suite can trade like a human trader can. It can perform task like

• Fundamental and technical analyses
• Money management
• Market forecasting
• Opening and closing orders, and more

Note that the forex sniper suite works for all the major currency pairs, as opposed to other EAs that may falsely claim to work for all currency pairs; and of course, it functions only on the metatrader platforms (MT4 and MT5).

FACTS ABOUT THE FOREX SNIPER EA

Here are more interesting facts about the forex sniper EA

1. It has been in test for over ten years now and has been proven to be 100% profitable, with smooth straight graph
2. There are two different versions of the forex sniper EA, the basic version and the ultimate version
3. With the basic version, a trader can make as much as 10% to 20%s table profit, and with the ultimate version, a trader can make as much as 100% to 500% profit
4. The basic version has a maximum draw-down of about 45%, and 5% for the ultimate version
5. It is compatible with any type of broker that allows EA trading.

Sniper Indicator

The primary use of sniper forex is to trade or invest on the H1 timeframe. While it is compatible with all currency pairs, this indicator emits superlative results when operating on the GBP USD pair. Other than this, it also provides investors with notifications regarding changing price trends and monitors the market for any trend reversals. The following are few characteristics of this indicator.

• Sniper Forex uses MetaTrader as their base operative platform.
• It predominantly functions well in the Americans and European Sessions.
• Trading is done on the H1 timeframe.
• Operates on all major currency pairs (preferably GBP USD).

The strategic significance of sniper forex indicators:

While opting for any indicator, it is always crucial to make a comprehensive study of the areas where that indicator will find the application. For a trader, the primary significance of use refers to carving out profitable buying and selling signals. So, here is an in-detail review of the same:

1. Buy (Go long):

The sniper indicator represents a profitable buying position by changing its color to blue. This also reflects in the candlesticks of its histogram trend with a blue shade. Similar to other indications, once the sniper changes its color, it issues a warning or alert to make its users aware of a possible shift in market trend.

On the other hand, sometimes, all three trend lines in this indicator can change their color to blue. This signifies a sure occurrence of bearish trends and opens up strong buying conditions. During such a situation, investors need to set their cards right so as to provide their trades with the most profitable opening bids.

2. Sell out (Go short):

A sell signal in forex sniper indicator comes in the form of red. Both trend bars of this histogram also represent a red tint in such cases. This indicator prefers in setting the stop loss close to floor values of currency pairs.

In case of a bullish market, all three lines of this indicator change to red. This also sends an alert to its users via the MetaTrader app. As a result, every trader looks to close their positions on a profitable note.

Additional factors to ponder on:

The biggest advantage of using sniper forex indicators is their association with the MetaTrader platform. MT4 or ZMT5 is available to all users via a PC or smartphones and helps them to keep a constant track of their accounts.

Moreover, it also supports a demo account. Therefore, you as a trader can judge the feasibility of this indicator by trying out varying trading strategies. So, sign up with a reliable broker today and try out the efficacies of the forex sniper indicator with a demo account.

3D Crypto Sniper

Developed by Roy back at 2016, the 3D Crypto Sniper was designed specifically for the Cryptocurrency market. Nevertheless, it is applicable to all markets. It is a classic trend following strategy with the purpose of catching significant turning points in an ongoing trend. The implementation of the strategy is demonstrated on real-time events taken place in the Bitcoin throughout 2017... So site back, buckle up and enjoy the ride.

Conclusion

Are you offered to buy the Sniper trading strategy presented as a unique product? Do not agree! You can find all its modifications in free access. Believe me, no matter how well the strategy is presented, the Sniper system is just a variant of a Price Action forex strategy, where nobody guarantees you success. Think on your own and do not buy anything that is only well-promoted by marketers. I would add that you will always find free (!!!) trading strategies, indicators, and recommendations on improving your trading performance among the LiteFinance training materials.

What is your opinion about the Price Action trading approach in general and the Sniper in particular? Do you want to add anything or argue? I invite each of you to write your comments in the section under the article! Let us master our trading skills together!

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