Reversal Sniper Pro - Complete User Guide & Settings Documentation
Reversal Sniper Pro - Complete User Guide & Settings Documentation
Product: Reversal Sniper Pro on MQL5 Market
Version: 2.00
Author: Kaan Çalışkan
Last Updated: February 2025
Multi-Confluence Extreme Detection Indicator
A Professional Tool for Identifying High-Probability Reversal Points Using Multi-Indicator Confluence Analysis
Introduction
Reversal Sniper Pro is a sophisticated technical indicator designed to help traders identify potential market reversal points with high accuracy. Unlike single-indicator approaches, this tool analyzes multiple technical indicators simultaneously to confirm extreme market conditions before generating signals.
The indicator operates on a confluence-based methodology, meaning it only alerts when several technical conditions align at the same time. This multi-layered approach significantly reduces false signals and helps traders focus on the highest-probability setups.
This guide provides comprehensive documentation on all settings, features, and configuration options. You'll learn how to customize the indicator for different markets, timeframes, and trading styles.
Whether you're trading forex pairs like GBPJPY, commodities like Gold (XAUUSD), or indices like NASDAQ, Reversal Sniper Pro adapts to your preferred instruments with customizable sensitivity settings.
Part 1: Getting Started
What is Reversal Sniper Pro?
Reversal Sniper Pro is a chart-based indicator that displays visual signals when extreme market conditions are detected. The indicator uses six different technical analysis methods:
- Z-Score Analysis - Statistical deviation measurement
- Bollinger Bands %B - Band position analysis
- RSI (Relative Strength Index) - Momentum analysis
- Stochastic Oscillator - Overbought/oversold detection
- CCI (Commodity Channel Index) - Cycle identification
- ATR Spike Detection - Volatility breakout analysis
How Confluence Works
A signal is only generated when multiple indicators agree on the same direction. For example, if you set "Minimum Confluence" to 3, the indicator will only show a Buy signal when at least 3 out of 6 technical methods detect bullish extreme conditions simultaneously.
This confluence requirement filters out weak signals and focuses your attention on high-conviction setups where multiple technical factors align.
Signal Types
The indicator displays three types of signals:
- Confirmed Signals - Non-repainting signals on closed bars (green arrow for Buy, red arrow for Sell)
- Potential Signals - Early warning on the current forming bar (yellow for Buy, orange for Sell)
- TP Zones - Automatic take-profit area detection (aqua for Buy TP, magenta for Sell TP)
Installation Steps
- Purchase and download Reversal Sniper Pro from the MQL5 Market
- The indicator will automatically install to your MetaTrader 5 platform
- Open any chart and navigate to Insert → Indicators → Market → Reversal Sniper Pro
- The indicator will load with default settings optimized for general use
- Customize settings based on your trading style (see configuration sections below)
Part 2: Extreme Detection Settings
This section controls how the indicator identifies extreme market conditions. Each setting allows you to fine-tune the sensitivity and accuracy of signal generation.
Minimum Confluence (1-6)
input int InpMinConfluence = 3; // Minimum Confluence (1-6)
This is the most important setting. It determines how many technical indicators must agree before a signal is generated.
- Value: 1-2 - Very sensitive, many signals, suitable for ranging markets or aggressive scalping
- Value: 3-4 - Balanced approach, recommended for most traders and markets
- Value: 5-6 - Very strict, fewer but higher-quality signals, best for volatile instruments
Recommended Settings by Market:
| Market | Min Confluence | Reasoning |
| XAUUSD (Gold) | 3-4 | High volatility requires stronger confirmation |
| NASDAQ (US100) | 3 | Trending behavior benefits from moderate sensitivity |
| GBPJPY | 4 | Volatile pair needs strict filtering |
| EURUSD | 2-3 | Lower volatility allows more sensitivity |
| Bitcoin (BTCUSD) | 4-5 | Extreme volatility demands highest confluence |
Part 3: Z-Score Analysis Settings
Z-Score measures how many standard deviations the current price is from its average. Extreme Z-Score values indicate potential reversal points.
Use Z-Score Analysis
input bool InpUseZScore = true; // Use Z-Score Analysis
Enable or disable Z-Score analysis. When enabled, it counts toward the confluence total.
Z-Score Threshold (2.0-3.0)
input double InpZScoreThreshold = 2.5; // Z-Score Threshold
Determines how extreme the price deviation must be to trigger a signal:
- 2.0 - More sensitive, catches smaller extremes (suitable for indices, trending markets)
- 2.5 - Balanced approach (recommended for most instruments)
- 3.0 - Very strict, only extreme outliers (best for highly volatile pairs)
Z-Score Period
input int InpZScorePeriod = 20; // Z-Score Period
The lookback period for calculating the average and standard deviation:
- 14-20 - Short-term extremes, responds quickly to recent price action
- 20-30 - Medium-term balance (default recommended)
- 30-50 - Long-term statistical analysis, slower but more stable
Part 4: Bollinger Bands Settings
Bollinger %B measures where price is positioned within the Bollinger Bands. Values near 0% or 100% indicate potential extremes.
Use Bollinger %B
input bool InpUseBollinger = true; // Use Bollinger %B
Enable or disable Bollinger Bands analysis.
BB %B Lower Threshold
input double InpBBExtremeLow = 0.03; // BB %B Lower Threshold (0.05 = 5%)
When %B drops below this level, it signals potential oversold conditions (Buy signal). Common values:
- 0.00-0.03 - Very strict, price must be at or below lower band
- 0.03-0.10 - Moderate, catches extremes near the band
- 0.10-0.20 - Relaxed, earlier warnings
BB %B Upper Threshold
input double InpBBExtremeHigh = 0.97; // BB %B Upper Threshold (0.95 = 95%)
When %B rises above this level, it signals potential overbought conditions (Sell signal). Common values:
- 0.97-1.00 - Very strict, price must be at or above upper band
- 0.90-0.97 - Moderate, catches extremes near the band
- 0.80-0.90 - Relaxed, earlier warnings
Bollinger Period
input int InpBBPeriod = 20; // Bollinger Period
Standard Bollinger Bands period. Default 20 is industry standard.
Bollinger Deviation
input double InpBBDeviation = 2.0; // Bollinger Deviation
Standard deviation multiplier. Default 2.0 is standard. Increase to 2.5 or 3.0 for wider bands in volatile markets.
Part 5: RSI Settings
RSI (Relative Strength Index) measures momentum. Extreme RSI values indicate potential reversal conditions.
Use RSI
input bool InpUseRSI = true; // Use RSI
Enable or disable RSI analysis.
RSI Period
input int InpRSIPeriod = 7; // RSI Period
The calculation period for RSI:
- 5-7 - Fast, sensitive to short-term moves (scalping, M5-M15 timeframes)
- 9-14 - Standard (general use, all timeframes)
- 14-21 - Slower, filters noise (higher timeframes)
RSI Oversold Level
input int InpRSIOversold = 15; // RSI Oversold Level
RSI must drop below this level to trigger a Buy signal:
- 10-15 - Extreme oversold (recommended for reversal trading)
- 20-30 - Standard oversold (general use)
- 30-40 - Early oversold (aggressive entries)
RSI Overbought Level
input int InpRSIOverbought = 85; // RSI Overbought Level
RSI must rise above this level to trigger a Sell signal:
- 85-90 - Extreme overbought (recommended for reversal trading)
- 70-80 - Standard overbought (general use)
- 60-70 - Early overbought (aggressive entries)
Part 6: Stochastic Oscillator Settings
Stochastic measures where the current price is within the recent high-low range. Extreme values indicate potential reversals.
Use Stochastic
input bool InpUseStochastic = true; // Use Stochastic
Enable or disable Stochastic analysis.
Stochastic %K Period
input int InpStochK = 5; // Stochastic %K Period
The main Stochastic line period. Lower values = faster response.
Stochastic %D Period
input int InpStochD = 3; // Stochastic %D Period
The signal line period. Usually 3 for fast Stochastic.
Stochastic Slowing
input int InpStochSlowing = 3; // Stochastic Slowing
Internal smoothing. Standard value is 3.
Stochastic Oversold
input int InpStochOversold = 10; // Stochastic Oversold
Both %K and %D must be below this level for a Buy signal:
- 5-10 - Extreme (best for reversals)
- 10-20 - Standard
- 20-30 - Relaxed
Stochastic Overbought
input int InpStochOverbought = 90; // Stochastic Overbought
Both %K and %D must be above this level for a Sell signal:
- 90-95 - Extreme (best for reversals)
- 80-90 - Standard
- 70-80 - Relaxed
Part 7: CCI Settings
CCI (Commodity Channel Index) identifies cyclical patterns and extreme deviations from average price.
Use CCI
input bool InpUseCCI = true; // Use CCI
Enable or disable CCI analysis.
CCI Period
input int InpCCIPeriod = 14; // CCI Period
Standard period for CCI calculation. 14 is the classic setting.
CCI Extreme Level
input int InpCCIExtreme = 200; // CCI Extreme Level (+/-)
CCI must exceed +200 (overbought) or drop below -200 (oversold) to trigger signals:
- 150-200 - Moderate extremes (more signals)
- 200-250 - Standard extremes (balanced)
- 250-300 - Very extreme (fewer but stronger signals)
Part 8: ATR Spike Detection Settings
ATR (Average True Range) Spike Detection identifies unusually large price bars that may signal exhaustion and potential reversal.
Use ATR Spike Detection
input bool InpUseATRSpike = true; // Use ATR Spike Detection
Enable or disable ATR spike analysis.
ATR Spike Multiplier
input double InpATRSpikeMulti = 1.5; // ATR Spike Multiplier
A bar is considered a "spike" when its range exceeds the average ATR by this multiplier:
- 1.2-1.5 - Sensitive, catches moderate spikes
- 1.5-2.0 - Balanced (recommended)
- 2.0-3.0 - Strict, only extreme volatility bars
The indicator also checks bar direction: a large bearish bar suggests oversold (Buy signal), a large bullish bar suggests overbought (Sell signal).
ATR Period
input int InpATRPeriod = 14; // ATR Period
Period for calculating the Average True Range. Standard is 14.
Part 9: TP Zone Detection
The indicator can automatically detect potential take-profit zones where the confluence strength decreases, suggesting the extreme condition is fading.
Show TP Zones
input bool InpShowTPZones = true; // Show TP Zones
Enable or disable automatic TP zone detection and display.
Min Confluence Drop for TP
input int InpTPMinConfReturn = 1; // Min Confluence Drop for TP
How much the confluence count must drop from the signal bar to trigger a TP zone marker:
- 1 - Sensitive, shows TP zones early
- 2 - Moderate
- 3+ - Strict, waits for significant confluence reduction
Example: If a Buy signal triggered with 4/6 confluence, and you set this to 1, a TP zone will appear when confluence drops to 3/6 or lower.
Part 10: Calculation Settings
Max Bars to Calculate
input int InpMaxBarsBack = 5000; // Max Bars to Calculate (0=unlimited)
Limits how far back the indicator calculates. This helps with performance on lower-spec computers:
- 0 - Calculate entire chart history (may be slow on long charts)
- 1000-3000 - Recent bars only (fast, suitable for scalping)
- 5000+ - Extended history (balanced, recommended)
Part 11: Visual Settings
Customize how signals appear on your chart.
Confirmed Arrow Size (1-5)
input int InpArrowSize = 3; // Confirmed Arrow Size
Size of the confirmed signal arrows. 3 is recommended for visibility.
Potential Arrow Size (1-5)
input int InpPotentialSize = 2; // Potential Arrow Size
Size of the potential signal arrows. Slightly smaller than confirmed signals to differentiate.
Color Settings
You can customize all signal colors:
input color InpBuyColor = clrLime; // Confirmed Buy Color input color InpSellColor = clrRed; // Confirmed Sell Color input color InpPotBuyColor = clrYellow; // Potential Buy Color input color InpPotSellColor = clrOrange; // Potential Sell Color input color InpTPBuyColor = clrAqua; // TP Zone Buy Color input color InpTPSellColor = clrMagenta; // TP Zone Sell Color
Part 12: Dashboard Panel Settings
The indicator includes a professional on-chart dashboard showing real-time analysis and statistics.
Show Dashboard Panel
input bool InpShowPanel = true; // Show Dashboard Panel
Enable or disable the entire dashboard. Useful if you prefer a clean chart.
Panel Position
input int InpPanelX = 20; // Panel X Position input int InpPanelY = 50; // Panel Y Position
Adjust the dashboard location on your chart. X = pixels from left, Y = pixels from top.
Dashboard Features
The panel displays:
- Potential Signal - Real-time signal on the forming bar (Bar 0)
- Confirmed Signal - Last confirmed signal on the closed bar (Bar 1)
- Buy/Sell Confluence - Current confluence counts (e.g., "BUY: 4/6" means 4 indicators support Buy)
- Individual Indicators - Status of each technical indicator (Z-Score, BB, RSI, Stochastic, CCI, ATR)
- Statistics - Total signals generated and win rate tracking
Part 13: Alert Settings
Configure how and when you receive notifications.
Alert Types
input bool InpAlertOnConfirmed = true; // Alert on Confirmed Signals input bool InpAlertOnPotential = false; // Alert on Potential Signals input bool InpAlertOnTP = false; // Alert on TP Zones
Choose which signal types trigger alerts:
- Confirmed Alerts - Recommended for most traders (no repainting)
- Potential Alerts - Early warnings (may change before bar closes)
- TP Alerts - Notifications when take-profit zones appear
Alert Methods
input bool InpAlertPopup = true; // Show Popup Alerts input bool InpAlertSound = true; // Play Sound Alerts input bool InpAlertEmail = false; // Send Email Alerts input bool InpAlertPush = false; // Send Push Notifications
Enable your preferred notification methods. Push notifications require MT5 mobile app setup.
Custom Alert Sound
input string InpAlertSoundFile = "alert.wav"; // Alert Sound File
Specify a custom sound file from your MT5 Sounds folder.
Part 14: Configuration Examples
Example 1: Conservative Gold (XAUUSD) Trading
InpMinConfluence = 4 InpZScoreThreshold = 2.5 InpRSIOversold = 15 InpRSIOverbought = 85 InpStochOversold = 10 InpStochOverbought = 90 InpCCIExtreme = 250 InpAlertOnConfirmed = true InpAlertOnPotential = false
This setup prioritizes quality over quantity, perfect for volatile Gold markets where false signals can be costly.
Example 2: Aggressive Scalping (EURUSD M5)
InpMinConfluence = 2 InpZScoreThreshold = 2.0 InpRSIPeriod = 5 InpRSIOversold = 20 InpRSIOverbought = 80 InpStochOversold = 15 InpStochOverbought = 85 InpAlertOnPotential = true
Lower confluence and relaxed thresholds generate more signals for active scalping strategies.
Example 3: Swing Trading Indices (NASDAQ H1-H4)
InpMinConfluence = 3 InpZScoreThreshold = 2.3 InpZScorePeriod = 30 InpBBPeriod = 20 InpRSIPeriod = 14 InpCCIExtreme = 200 InpShowTPZones = true InpTPMinConfReturn = 2
Balanced settings with TP zones enabled for swing trading on higher timeframes.
Example 4: Crypto (BTCUSD) - High Volatility
InpMinConfluence = 5 InpZScoreThreshold = 3.0 InpBBExtremeLow = 0.00 InpBBExtremeHigh = 1.00 InpRSIOversold = 10 InpRSIOverbought = 90 InpCCIExtreme = 300 InpATRSpikeMulti = 2.0
Very strict settings to filter out noise in extremely volatile cryptocurrency markets.
Part 15: Understanding Signal Quality
High-Quality Signals (Ideal Conditions)
- Confluence of 4-6 indicators
- Z-Score exceeding ±2.5
- Bollinger %B at 0% or 100%
- RSI below 15 or above 85
- Stochastic below 10 or above 90
- CCI below -200 or above +200
- ATR spike confirming exhaustion
Medium-Quality Signals
- Confluence of 3 indicators
- Some indicators near thresholds but not extreme
- Mixed timeframe picture
Signals to Question
- Confluence of only 1-2 indicators (if min is set low)
- Conflicting higher timeframe trend
- Low volume context (if using volume analysis separately)
Part 16: Best Practices & Tips
Timeframe Selection
- M1-M5: Use lower confluence (2-3) and faster indicator periods for scalping
- M15-H1: Balanced settings (3-4 confluence), standard periods
- H4-D1: Higher confluence (4-5), longer indicator periods for swing trading
Risk Management
- Always use stop-loss orders, even with high-confluence signals
- Position size according to account risk tolerance (1-2% per trade)
- TP zones are suggestions, not guarantees - monitor price action
- Avoid trading during major news events regardless of signals
Combining with Other Analysis
- Check higher timeframe trend before taking signals
- Look for support/resistance confluence at signal areas
- Consider volume patterns (if available on your instrument)
- Use chart patterns to confirm reversal probability
Performance Optimization
- On slower computers, set InpMaxBarsBack to 2000-3000
- Disable unused indicators (set InpUseXXX to false) to speed up calculations
- Hide dashboard panel when recording videos or taking screenshots
Testing New Settings
- Use Strategy Tester to backtest configuration changes
- Test on demo account before applying to live trading
- Keep a trading journal to track which confluence levels work best for you
- Monitor the win rate display on the dashboard to gauge effectiveness
Conclusion
Reversal Sniper Pro is a comprehensive reversal detection system that combines six proven technical analysis methods into a single, easy-to-use indicator. By requiring multiple indicators to agree before generating signals, it helps traders focus on high-probability setups while filtering out market noise.
The key to success with this indicator is proper configuration for your specific market and trading style. Use the examples and guidelines in this guide as starting points, then fine-tune based on your backtesting results and live trading experience.
Remember that no indicator guarantees profits. Always combine technical signals with proper risk management, fundamental analysis, and your own market judgment.
Key Takeaways:
- Higher confluence = fewer but higher-quality signals
- Adjust thresholds based on market volatility
- Use confirmed signals for non-repainting reliability
- Potential signals offer early warnings but may change
- TP zones help identify exit opportunities
- Dashboard provides real-time analysis and performance tracking
- Always backtest configuration changes before live trading
Need Help?
Join our community group for:
- Configuration assistance
- Trading strategy discussions
- Updates and new feature announcements
- Sharing your results and learning from others
Community Group: Click here to join
More Products: Explore my other indicators and tools
Direct Support: Contact via MQL5 messaging
Disclaimer
Trading in financial markets involves substantial risk of loss. Past performance is not indicative of future results. This indicator is a tool to assist in trading decisions and does not guarantee profits. Always use proper risk management and never risk more than you can afford to lose. The examples and settings in this guide are for educational purposes only and should not be considered as financial advice.
Author: Kaan Çalışkan
Version: 2.00
Last Updated: February 2025
