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A lot of times we are faced with the difficulty and tediousness of knowing how to do fibonacci retracements, fibonacci extensions, adjusting moving averages to have fibonacci sequence factors and picking the correct high/low points to plot them. On top of that, we are faced with an even more mind numbing idea that to achieve fibonacci confluence, we need to do this across every single time frame and find the level at which all the points collide and create a powerful fibonacci confluence level which price has a very high and strong chance of reacting off.
That’s why I decided to build the TFA Sniper, it uses advanced fibonacci mathematics across multiple time frames (9 to be exact) and through about 90,000 lines of code (I kid you not) it takes all the different fibonacci permutations and combinations and draws them as little orange/blue boxes (these are the key levels you should focus on). What makes this system/indicator better than other auto fibonacci indicators on MT4 (and other platforms) is that this one does it across many time frames, uses more than a simple zigzag to do the retracements, uses advanced fibonacci mathematics (hey, if we’re going to appreciate the full power of fibonacci, let’s go beyond the kiddy basic stuff and into the deep advanced stuff) and displays it in a visually easy to understand way for you.
So the choice is yours on which weapon you wish to take into the battle arena of bloodthirsty bulls and bears : do you want to take some simple auto fibonacci indicator that is as good as taking a wooden dagger, or do you wish to take a powerful accurate sniper?
The TFA Sniper V2 was redesigned after we received over 300 feedbacks from multiple professional traders along with the invaluable suggestions from the soldiers of The Forex Army. It is meant to make you the most lethal and profitable forex trader with ease because it considers your trading psychology and how to overcome it, trading methodology and how to automate it, and trading accuracy and how to automatically determine that for you.
In the new TFA Sniper V2, we now have :
Finally, the feature everyone has been asking for since 2 years ago – we’ve finally developed it after many sleepless months. Special thanks to all who contributed to the entry logic, trade management strategies and the many features + logic that requires this system to function and trade by itself.In a nutshell :
– Automated analysis of 1,188 variables over 9 time frames to select optimum entry and stop loss points
– Fully Customizable entry zones depending on your risk tolerance
– Anti-Revenge Trading protection that limits the number of orders after each entry
– Integrated Smart News Filter (feature explained below) that gets you out of opened and pending trades when strong news events approaches
– Integrated Spread Avoidance Enhancement Filter that micro-manages your pending orders from being executed if spreads are too high and pick an entry when spread is low enough for you to enter
- Automatic smart optimum entry and SL point calculation
This feature searches out the strongest point of entry and SL based on the strength of how 1,188 variables line up over 9 time frames. Yes it is 9 time frames as we factor in extra variables from the Weekly and Monthly time frames. This was built after feedback from our army of soldiers that they occasionally made mistakes in determining the strongest level of entry/exit and helps new soldiers easily learn and understand visually what levels to watch out for.
- Auto Adjusting Pending Orders
TFA Sniper V2 automatically (even in autotrading mode) smartly adjusts your entry based on the abovementioned optimum entry and SL calculations. It moves with the market and uses a very intelligent logic to cancel the trade when we’re within 15 minutes of big news events, or when the spread gets too large as it approaches our entry.This feature was built after feedback from our army of soldiers that it can get quite tiring waiting for the optimum entry point that usually occurs too quickly for them to react at times, or they are unable to be around/awake when there is the most volatility in the market. So since we value the feedback of our soldiers above everything else, we have went on to code a crazily intelligent algorithm that factors all the many variables in to make and adjust the smartest auto adjusting pending order system you’ll likely ever see.
- Smart position sizing based on risk % and Risk : Reward ratio
It is a good and important practice to risk only a % of your account with each trade so you’ll never overcommit to a trade. Our TFA Sniper V2 has built in this feature so that we can easily adjust the % of our account per trade along with the R:R ratio we like based on how good the setup is – and we take it one step further by auto calculating the size of this lot based on the dynamic changing nature of the optimum stop loss levels.This feature was included after feedback from our soldiers that they often had difficulties deciding how much to risk in every trade and on top of that, they had difficulties adjusting the number of lots to properly and accurately reflect the risk they were willing to take on each trade given the fast and intense nature of scalping markets.
- Smart News Filter
The TFA Sniper V2 now has a built in smart news filter that links the news to the affected currency, along with that, it automatically prevents the soldier from executing any trades within this period because of how risky it can get.This feature was included after feedback from our soldiers that they often could’t keep track of the news events to avoid trading and sometimes made the rookie mistake of letting their emotions get the better of them and entering into trades during news events.
- Spread Avoidance Enhancement Management
Pardon the long name. The TFA Sniper V2 micro-manages all your pending orders and removes them when spread gets too high and it is approaching your entry. It then re-enters them when spread is lower so you know that at your point of entry, you would have gotten the best possible spread offering.
Ever wondered why the TFA Sniper is hailed as the most advanced and powerful Auto Fibonacci Indicator in the world? We all know that price tends to react off fibonacci levels. Every single number you see on the TFA Sniper corresponds to an advanced fibonacci level. The orange and blue colours relate to the volatility of the price required to reach those levels. So to reach a light orange/blue level, price needs moderate volatility (speed). To reach a dark orange/blue level, price needs high volatility (speed).
So, here’s how it works :
The more volatile (faster) price is, the more likely it is to bounce off the fibonacci levels. So if price rose up to the dark orange levels, it means that it has gained a lot of volatility (hence speed) and is likely to react off one of the fibonacci levels. The more fibonacci levels that are lined up in a row, the higher chance it has on “crashing” into that level and reacting off it.
Imagine this :
You are driving a car. When you drive slowly, everything is fine. You can easily avoid road obstacles (like in the grey zone where there are no fibonacci levels). However, when you pick up speed to the orange zone, because you’re driving faster, it is tougher to avoid the obstacles. Avoiding 1 obstacle is tough, and avoiding 7 obstacles lined up in a row is even tougher when you’re driving at maximum speed, and that is why having 7 fibonacci levels across 7 time frames in the dark orange/dark blue zone is considered a very powerful level to trade off.
1) EZ (Easy Zone) levels
Dark orange and dark blue boxes are called EZ (Easy Zone) levels. This is usually because when price is in this area, the trade is easy as price easily bounces and reacts off these levels.
You will notice that there are bolded dark blue and dark orange numbers by the side, these are the optimum calculated points. A cluster or orange or blue means that within that range of prices, there are multiple optimum points and the bolded numbers are the strongest optimum calculated points within that cluster.
The EZ levels are usually associated with the EZ Forex Scalping Strategy which is one of our most profitable (but strictest) trading strategeies.
2) DZ (Danger Zone) levels
Light orange and light blue boxes are called DZ (Danger Zone) levels. This is because while price has gained some volatility (speed) to bring it to this zone, it is still quite dangerous (but possible) to take a trade. Only look for trades here if you have really good convictions (strategy will be discussed later).
Similarly for DZ levels, you can see the bolded light blue and light orange numbers signalling the optimum entry points.
The DZ levels are commonly associated with our DZ Forex Scalping Strategy which has slightly less strict entry requirements but nonetheless still profitable if used with caution. It is also commonly used with the TT Forex Scalping Strategy which targets trades that usually run for a couple of hours.
3) Grey Area
Grey area (middle) is where price normally tends to bum around. This is an area with little volatility and movement. This is not a good area to trade. You can choose to disable the grey zone fib levels if you want a cleaner feel to your TFA Sniper.
Grey Area entries are more commonly used with the Flag Formation Scalping Strategies as you’re normally targeting larger runs
4) Directional Diamonds (DD)
Directional Diamonds (DD) are the green and red diamonds. They indicate the momentum and speed of the market from the 1m all the way up to the 1d time frames. Light green/red is weakest, Medium green/red is in the middle in terms of strength and Dark green/red is the strongest. The Dark green/red DDs are very strong levels of support/resistance too.
5) Smart Trade Manager
In our TFA Sniper V2, we’ve simplified the information panel and ordering system. We can clearly see the spread now and when it reaches a dangerous level, the spread turns red and it will disable and cancel all pending orders.
We have upgraded the order panel to have 2 parts : Market Execution Orders and Pending Orders. When the Auto Trade feature is turned on, the pending orders are automatically turned off because the auto trading feature is based on the pending order feature. You’re able to adjust the Auto Trade feature’s sensitivity by choosing between EZ/DZ/NZ trades.
For Market Execution Orders, it is important to note that the stop loss being used is under “mark. fix SL” which means Market Fixed Stop Loss. This value is in pips. Your Take Profit is based on the R:R to TP value (which means Risk to Reward to Take Proft). So if your fixed stop loss is 10, and your R:R to TP is 3, your Take Profit would be set at 10 x 3 = 30 pips away. Your breakeven is based on the R:R to BE as explained below.
For all orders, by Clicking “SELL” or “BUY”, it opens one position based on the risk% per trade you have stated. After that, each time you click “ADD SELL” or “ADD BUY”, it adds another position of similar size. This is useful when you have an initial 0.5% risk per trade and you see a really good setup which you would like to increase the risk to 1% per trade.
“R:R to BE” means Risk : Reward to Breakeven. That means how much you want to trade to go in your favour before it moves your stop loss to breakeven.
Eg. If your initial stop loss is 10 pips
– R:R to BE of 1.00, it means once the trade moves in your favour by 10 pips, it moves your SL to breakeven.
– R:R to BE of 0.50, it means once the trade moves in your favour by (10 x 0.5 = 5 pips), it moves your SL to breakeven.
“R:R to TP” means Risk : Reward to Take Profit. This means how much R:R you would want to take.
Eg. If the stop loss if 10 pips
– R:R to TP of 3.00 means your TP is (10 x 3.oo = 30 pips)
– R:R to TP of 2.00 means your TP is (10 x 2.00 = 20 pips)
Basically, it just means how much bigger than your SL your TP will be.
“Fixed Lots” basically means how many lots you would want per trade.
“Risk/Trade” means what is the % of your account you would like to risk per trade. 1.00 = 1% meaning if you lose on a trade, you lose 1%. The lot size is automatically calculated based on the optimum calculated point for your SL (really smart stuff I must say).
“Pend. fix SL” means if you want to choose a fixed stop loss instead of the dynamic stop loss that the TFA Sniper uses. Entering a value in here that is above zero (0) would automatically overwrite the TFA Sniper’s entry calculations as it would not look out for the next optimum point to calculate your stop loss and instead would use the fixed stop loss you define here.
6) Auto Trade Suggestion
Yes you heard me right, now TFA Sniper V2 has a feature that shows you the recommended trade entry, the breakeven, the stop loss and the take profit level.
In the picture above (left), you must always know that the yellow line refers to the breakeven line. For short trades, the bottom of the yellow line is where price needs to head to to breakeven. In this example, your entry is at 83, your stop loss would be at the next optimum point of 90 and your take profit would be 3x that by default (depending on your R:R as mentioned above). So, the longer red line shows the take profit level. You can ignore the -68- level it means nothing.
In the picture above (right), the yellow line refers to the breakeven and for long trades, the top of the yellow line refers to the level price needs to reach to breakeven. In this example, 21 is your entry, 14 is your stop loss as it is the next optimum point and the longer green line refer to the take profit level which is around 3x the distance of the SL (again, depending on your R:R as mentioned above). You can ignore the -32- point it meant nothing.
7) Fibonacci Pivot Points
Light green dotted lines and light red dotted lines are fibonacci pivot points. They are strong but should always be used in conjunction with the fibonacci levels. Trading them alone is dangerous.
8) Flag Formation
The highlighted box above shows whether there is a flag formation and how strong it is. A flag formation stronger than 3 is what we typically look out for.
A reading of 1.0 : 3.5 means that the bearish flag formation has a strength of 3.5
A reading of 8.5 : 1.0 means that the bullish flag formation has a strength of 8.5
This is important information for you when you use entries that rely on the Flag Formation Setup.
9) Daily High/Low Line
The orange price is the high/low of the day where the market has been trading. It is only important when the US market has opened.
101) TFA Advanced Fibonacci Waves
The TFA Advanced Fibonacci Waves is the engine behind all the advanced fibonacci numbers. They are unbelievably good especially for longer term trading if you use them to analyze charts that are above 5 minutes (1 hour charts are the most commonly used time frame with this wave indicator). You can see how price reacts almost “mysteriously” off these levels time and time again (and this is just one time frame – imagine if we combined 9 time frames how much more powerful it can get and hence how the TFA Sniper works).
This Advanced Fibonacci Wave indicator is very useful when doing our daily chart analysis as you start to be able to make amazing sense of how the market is moving and at which key points it would potentially reverse and at which areas you can see good support and resistance levels.
Our traders are constantly improving the strategies we trade with and one of our live traders (2nd Lieutenant Jimmy) has made a stunning 50%+ in a month trading a variation of this strategy almost exclusively on EURUSD. You can find his strategy here : JT Forex Scalping Strategy