The German Sniper V1 binary options indicator generates trading signals exclusively in the direction of the trend. It does not provide precise information on the optimal moment to open a transaction, but it sets the level relative to which purchases of either Call or Put contracts are possible. For this reason, using German Sniper for binary options trading as a self-sufficient indicator seems difficult. However, it can be used in combination with other technical analysis tools. It can also be successfully used in Forex .
German Sniper V1 sells for $15. It is available for free download on our website so that you can familiarize yourself with the tool before purchasing. The cost of the indicator is low, but can such a tool really be useful in binary options trading? Find out in our review.
Content:
- Characteristics of German Sniper V1;
- Installation of German Sniper V1;
- Review and settings of German Sniper V1;
- Trading rules for German Sniper V1;
- Opening a Call option;
- Opening a Put option;
- Conclusion;
- Download German Sniper V1.
Characteristics of the indicator for binary options German Sniper V1
- Terminal: MetaTrader 4 ;
- Timeframe: M1-H4;
- Expiration: 3 candles;
- Option types: Call/Put;
- Indicators: German Sniper Indicator V1.ex4;
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks;
- Trading time: 8:00-20:00 Moscow time;
- Recommended brokers: Quotex , PocketOption , Deriv , Binarium .
Installing the indicator for binary options German Sniper Indicator V1
The German Sniper Indicator V1 indicator is installed as standard in the MetaTrader 4 terminal. To do this, you need to add it to the root folder of the terminal by selecting “File” in MT4 and then “Open data directory”. In the directory that opens, you need to go to the “MQL4” folder and then to “Indicators”, and then drag the indicator file there. The template is installed in the same way, but is placed in the “Templates” folder. More detailed instructions for installing indicators can be viewed in our video:
Review and settings of the German Sniper V1 indicator for binary options
Unfortunately, the exact operating principle of the German Sniper V1 indicator for binary options cannot be established. The result of the algorithm is a level marked in yellow. For Call options, it is marked with the inscription SMART BUY, and purchase is recommended if the asset is trading above the level. For Put options, the inscription SMART SELL appears, and a purchase should be sought when the price goes below the yellow level.
To summarize, the essence of the indicator’s work is to establish the direction of the trend and an important local support/resistance level , relative to which purchases of the corresponding options can be considered.
The German Sniper V1 binary options indicator allows you to change only visual settings:
In the basic template, parameters 0-3 are marked as transparent. By adding different color values to these settings we can see that German Sniper draws channel lines, which obviously play an important role in the appearance of the main signal. You can notice that when the channel lines move above or below the price chart, their color changes. This moment always coincides with the appearance of a new yellow level with a trading recommendation:
Trading rules using the German Sniper V1 indicator for binary options
The German Sniper V1 indicator itself determines the current trend. For beginners who still have difficulty recognizing the different phases of the market, this can be quite helpful.
When using German Sniper, you can simply rely on the indicator to determine the direction of the trade, but the skill of recognizing trends and flats, as well as understanding the principles of binary options trading in different market conditions, are extremely important for the successful application of any strategies and understanding their essence. For this reason, we recommend that beginners familiarize themselves with our educational materials on this topic:
- What is a trend and how does it work?
- Bearish and bullish trend. Definition and use.
- Market phases. Accumulation and distribution.
- How to determine a sideways trend (flat) in the market?
The German Sniper V1 indicator only determines the level relative to which an option can be purchased, but it itself does not provide accurate trading signals. To determine the most profitable points for buying a binary option, we should turn to additional technical analysis tools. According to our observations, German Sniper works well in conjunction with the Stochastic oscillator .
To trade using this strategy, we should monitor the moments of intersection of two Stochastic indicators in zones above 80 and below 20. These are zones that identify places where the strength of buyers or sellers is supposedly exhausted. Here it will be difficult for the price to overcome the level resistance without first rolling back from it:
So, to purchase a Call option, the following conditions must be met:
- On the chart we see a yellow level with the inscription SMART BUY ABOVE HERE.
- The price is above the yellow level.
- The solid Stochastic line crossed the red dotted line upward in the oversold zone.
To purchase a Put option, the conditions are as follows:
- A yellow level with the inscription SMART SELL BELOW HERE appeared on the chart.
- The price is below the yellow level.
- The solid line of the Stochastic oscillator crossed the red dotted line downwards in the overbought zone.
If all three conditions are met, you can buy an option with an expiration of 3 candles. Any timeframe can be used.
Opening a Call Option
In this example, the German Sniper indicator gave a SMART BUY ABOVE HERE signal, and the price immediately went above the level. After some time, the Stochastic values went into the oversold zone. The final signal to buy a Call option was when the solid Stochastic line crossed its dotted line upward. At the opening of a new candle, you can buy a Call option:
Opening a Put option
After the SMART SELL BELOW HERE signal appeared, the asset immediately began trading below the yellow level. Over a short period of time, the values of the Stochastic oscillator three times went into the overbought zone, where the solid Stochastic line crossed the dotted line downwards. Each time, based on this signal, it was possible to buy a Put option with an expiration of 3 candles:
Conclusion
Although the German Sniper V1 binary options indicator does not provide clear trading signals, it can be effectively used in combination with additional technical analysis tools, indicating the direction of the trend and indicating the key level above or below which you should look for purchases of the corresponding options.
In our review, we used German Sniper in combination with the Stochastic oscillator. This method allows you to get up to 70% of profitable signals for binary options trading. You can try to combine the indicator with other instruments or signals yourself. Be sure to test the system on a demo account !
Remember the importance of following the rules of risk management and money management when trading on a real account, as this significantly increases the profitability of any trading approach. You will find a reliable platform for trading in our rating of binary options brokers .
Download the German Sniper V1 indicator for free
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