Profit Sniper 2.0 is a completely new Indicator designed as a successor to previous 1.0 versions of Profit Sniper
Offering up huge improvements, including multiple position triggers, derived from Bollinger Bands and Chande Momentum as well as our own bespoke stochastic ribbons that provide trend pivots . Profit Sniper now works with regular Japanese candles, however, it still provides the flexibility of Heiken Ashi settings for certain elements of the indicator, this allows the accuracy of Japanese candlestick prices, and the smooth trends of HA.
Profit Sniper 2.0 has been specifically re-written for use with automation, including our own in-house trading robot known as C.A.T (Crypto Algo Trader) and as such we have chosen to remove several noisy elements of the now defunct Profit Sniper that were underused, such as the PPO and RSI variants.
Another big decision was to remove the MACD from the indicator package, as invariably users preferred using the built-in MACD . So how does it work?
HUNT In true Sniper fashion, when our stochastic HA ribbons pivot between short and long trends, the indicator will offer up a colour coded flag the says “1. HUNT” green for long, red for short.
SIGHT At this stage, the indicator is now looking for a second condition, this is displayed as “2. Sight” at this point the indicator as noticed a drop in the previous momentum, to pre-empt a flip between long and short. Red is for short, green is for Long FIRE The final condition to be met is based on the positioning of the Bollinger Bands , which is show as the “3. Fire Flag” again, as with hunt and sight, red is for short and green is for long.
Release Notes
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Profit Sniper 2.0 is a completely new Indicator designed as a successor to previous 1.0 versions of Profit Sniper
Offering up huge improvements, including multiple position triggers, derived from Bollinger Bands and Chande Momentum as well as our own bespoke stochastic ribbons that provide trend pivots. Profit Sniper now works with regular Japanese candles, however, it still provides the flexibility of Heiken Ashi settings for certain elements of the indicator, this allows the accuracy of Japanese candlestick prices, and the smooth trends of HA.
Profit Sniper 2.0 has been specifically re-written for use with automation, including our own in-house trading robot known as C.A.T (Crypto Algo Trader) and as such we have chosen to remove several noisy elements of the now defunct Profit Sniper that were underused, such as the PPO and RSI variants.
Another big decision was to remove the MACD from the indicator package, as invariably users preferred using the built-in MACD . So how does it work?
HUNT In true Sniper fashion, when our stochastic HA ribbons pivot between short and long trends, the indicator will offer up a colour coded flag the says “1. HUNT” green for long, red for short.
SIGHT At this stage, the indicator is now looking for a second condition, this is displayed as “2. Sight” at this point the indicator as noticed a drop in the previous momentum, to pre-empt a flip between long and short. Red is for short, green is for Long.
FIRE The final condition to be met is based on the positioning of the Bollinger Bands , which is show as the “3. Fire Flag” again, as with hunt and sight, red is for short and green is for long. A SAFETY catch also exists, preventing a FIRE when certain user defined conditions occur.
Release Notes
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COSMETIC CHANGE ONLY: Removed two unnecessary dropdown options from alert condition choices, now you just have to choose "Profit Sniper Long" or "Profit Sniper Short" when creating alerts.
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v2.0.2 contains enhancements to the indicator including :
Added a "Caution mode" to avoid confusion on the repainting issue for Hunt and Sight flags. Added trade mode "Long / Short / All" Added alert conditions to set alert on Hunt aswell as Fire flags Harmonised the indicator & backtest settings
Optimised indicator functionality to integrate with Catbot.
Release Notes
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v2.0.3 contains the following enhancements to the indicator:
> Fire on Hunt Flag added (1. Fire / 1.Fire + 1) > "Wait for Fire (BBMA) Confirmation" option retired in favour of "Choose BBMA Fire Condition" select box containing: Off = Wait for Fire confirmation Open = Fire when period opens above (short) / below (long) BBMA Open Tolerance = As above, but with tolerance threshold for when it nears BBMA (with accompanying Tolerance setting)
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v2.0.4 Addition of "Timeframe of Overlaid Flags" to allow you to operate at lower timeframes (e.g. 1 second or 1 minute) while Flags (and alerts) continue to be based on higher timeframes.
Other modifications:
> "3. Safety" flags retired, now no flag will appear if BB Squeeze activated > Bollinger Squeeze added to 1 & 2 Fire Flags > Short alerts on Japanese Flags fixed
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Minor cosmetic codefix on positioning of 1. fire flags
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v2.0.5 HTF (Higher Timeframe) Trend flags have been added to the main indicator, and these will now filter fire flags by the prevailing trend to cut down on false positive long & short alerts. No additional alert syntax beyond the normal Long/Short alerts is needed to enable this functionality.
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v2.0.5.1 Added ability to turn on or off the HTF filtering setting
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v2.0.6 Fixed Short & Long Trend, added high timeframe on/off switch & cleaned up the visuals
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Minor codefix in calculation of HTF ribbon cross to make it more accurate
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v2.0.6.2 Codefix to AlertCondition to improve accuracy
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v2.0.6.4 Codefix for trend repaints issue in HTF
Release Notes
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V2.0 Profit Sniper 2.0 offers up huge improvements over the previous 1.0 version of Profit Sniper, including multiple position triggers, derived from Bollinger Bands and Chande Momentum as well as our own bespoke stochastic ribbons that provide trend pivots.
> 2.0 operates off two timeframes in parallel, your Trend Timeframe (Higher Timeframe concerned with identifying market trends), and your Trade Timeframe (Lower Timeframe to actually trade Longs & Shorts in) > You also have the option to trade with trend so the indicator will automatically flag & alert only Shorts in a Short trend, and Longs in a Long Trend
Profit Sniper 2.0 has been specifically re-written to simplify usage, and for use with automation, including our own in-house trading robot known as C.A.T (Crypto Algo Trader).