Trading libraries for MetaTrader 5
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MetaTrader 5
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Overview
FX Sniper Magenta Indicator
FX Sniper Magenta is an exclusive and leading indicator to trade Forex with your Metatrader trading platform.FX Sniper Magenta is able to analyze market participants behavior and to predict changes in the price direction even before movement starts.
Most indicators are lagging indicators and are useless. FX Sniper Magenta is a unique leading indicator.
The indicator displays arrows in your chart (please see screenshot attached) showing the probable direction of price action.
FX Sniper Magenta never repaints. Once candle is closed signal is confirmed and arrow will never disappear.
Inputs of the indicator are:
- UseAlerts (true/false): to enable alerts
- PopAlerts (true/false): to enable alerts of type Popup window
- EmailAlerts (true/false): to enable alerts of type Email
- PushAlerts (true/false): to enable alerts of type Push Notification
- SoundAlerts (true/false) to enable alerts of type Sound
- SoundFile: file to be used for sound alerts
Size and color of the arrows can be setup in the Color tab of the indicator.
Trading rules:
- Enter trade at opening of next candle in the direction of the signal (SELL/BUY)
- Place stop at the top (SELL) or bottom (BUY) of the signal candle or use stop based on ATR
- Take profit with reward / risk of 2:1 or 3:1
The indicator can be used with any time frame.
It can be used to trade Forex, Stocks, Indices, Futures, Commodities and Cryptos.
Other indicators for MT4:
We developed more than 60 indicators and utilities for Metatrader 4 and Metatrader 5.
Indicators for MT5:
All our indicator are developed both for MT4 and MT5.
List of all our indicators:
You can see the complete list of our indicators visiting our profile page.
