Fibonacci Sniper Indicator MT4 – Free Download

Introduction: The Legacy of Fibonacci

The world of Forex trading is replete with various strategies and tools, each promising to unlock the secrets of successful trading. Among these, Fibonacci trading has emerged as a popular technique, owing its origins to an Italian mathematician from the thirteenth century, Leonardo Fibonacci.

Understanding the Fibonacci Sniper Indicator

One of the modern implementations of Fibonacci trading is the Fibonacci Sniper Indicator. Designed to assist Forex traders in making informed decisions, this indicator is equipped with a smart informer system, enhancing the trading experience by providing crucial insights.

Technical Specifications

Version: 1.3
Year of issue: 2023
Working pairs: EUR/USD, GBP/USD, and EUR/JPY
Recommended timeframe: M15, M30, H1, and H4
Minimum Deposit: $300
Average of account: 1:30 To 1:1000

Best Brokers List

Fibonacci Sniper Indicator works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAME	REGISTER	Year Founded	Headquartered	Leverage	Minimum Deposit	Regulating
	Register	2007	🇦🇺 Australia 🇨🇾 Cyprus 🇧🇸 The Bahamas 🇸🇿 Seychelles	1:1000	$200	ASIC, SCB, FSA
	Register	2008	🇨🇾 Cyprus	1:Unlimited	$10	CySEC, FCA, FSCA, FSA, BVI
	Register	2009	🇧🇿 Belize	1:2000	$10	FSC
	Register	2009	🇧🇿 Belize	1:3000	$1	IFCS
	Register	2009	🇨🇾 Cyprus 🇦🇺 Australia 🇧🇿 Belize 🇦🇪 Emirates	1:1000	$5	ASIC, CySEC , IFSC
	Register	2010	🇦🇺 Australia	1:500	$200	FCA , ASIC, DFSA
	Register	2011	🇬🇧 England	1:500	$25	CySEC
	Register	2006	🇪🇭 Ireland	1:400	$100	CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

Fibonacci Sniper Indicator Settings

The Fibonacci Sniper Indicator operates within specific time frames and currency pairs, focusing primarily on M15, M30, H1, and H4 timeframes, with H1 being the recommended choice. Major pairs such as EUR/USD, GBP/USD, and EUR/JPY are commonly used for optimal results.

Guidelines for Effective Usage

To maximize the effectiveness of the Fibonacci Sniper Indicator, certain rules must be adhered to diligently:

1. Market Conditions: Avoid using the indicator during flat market conditions. It is best utilized during active market hours, such as the London or US trading sessions.
2. Trend Identification: Identify the global trend and refrain from trading against it. The informer system can provide insights into the strength of the current trend.
3. Sideways Trends: Avoid trading or using the indicator during sideways market trends to mitigate risks effectively.

Risk Management

Proper risk management is essential in Forex trading, and the Fibonacci Sniper Indicator emphasizes the following:

• Stop Loss: Utilize stop loss according to the provided guidance. Deviating from the stop loss strategy may expose traders to significant capital losses.

Executing Trades with Precision

The Fibonacci Sniper Indicator offers clear signals for entering and exiting trades:

• Entry Points: Buy when the signal price crosses the aqua Entry Level from bottom to top and sell when it crosses the salmon Entry Level from top to bottom.
• Exiting Trades: Traders have multiple options for exiting trades, including reaching predefined Take Profit Levels, utilizing alerts, or exiting near strong support or resistance levels.

Advantages of the Fibonacci Sniper Indicator

1. Clear Guidance: The indicator provides clear entry and exit signals, facilitating precise decision-making for traders.
2. Risk Management: With predefined stop loss levels and various exit strategies, the indicator helps traders manage risks effectively.
3. Enhanced Trading Experience: The informer system offers valuable insights into market conditions, trend strength, and timeframes, enhancing the overall trading experience.

Disadvantages of the Fibonacci Sniper Indicator

1. Market Dependency: The effectiveness of the indicator may vary depending on market conditions, making it less reliable during certain periods.
2. Learning Curve: Traders may require time to fully understand and utilize the indicator effectively, potentially leading to initial losses during the learning process.

In conclusion

The Fibonacci Sniper Indicator serves as a powerful tool for Forex traders, offering valuable insights, clear signals, and effective risk management strategies. However, traders must exercise caution, adhere to guidelines, and continuously refine their trading skills to harness its full potential in the dynamic world of Forex trading.

Download Fibonacci Sniper Indicator

Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.