Precision Sniper [WillyAlgoTrader]
I found this on TradingView and converted the open source Pine script code to MT4 code.
Original code with all details: https://www.tradingview.com/script/I...llyAlgoTrader/
Precision Sniper is an overlay indicator that only generates entry signals when the 10-factor confluence scoring engine reaches a configurable threshold - combining EMA alignment, RSI momentum, MACD direction, VWAP position, volume confirmation, ADX trend strength, DI directional pressure and higher time frame deviation into a single composite score (0-10). Each signal comes with automatic take-profit/stop-loss settings, using ATR-based or structure-based stops, and a progressive trailing stop system that adjusts the stop to breakeven after TP1 and to TP1 levels after TP2.
Each factor in the scoring engine measures a different market dimension:
— EMA Fast/Slow Crossover → Detect Momentum Changes on Initiating Signals (Triggers) — Exponential Moving Average Trend → Confirm Macro Direction (Structural Filtering)
— Relative Strength Index → Confirms that momentum is in non-extreme territory (avoiding overbought markets)
— MACD Histogram + MACD with Signal → Confirms that momentum is accelerating, not decelerating (2 factors)
— Volume weighted average position → Confirms price to the right of institutional fair value — Volume → Confirms market participation (not low liquidity wick)
— ADX+DI → Confirm that the market is trending and directional pressure is consistent (not volatile)
— HTF EMA Bias → Confirms that the higher time frame trend is in line with the entry direction
Latest version below: Added max bar history = 1000 inside all codes.
Original code with all details: https://www.tradingview.com/script/I...llyAlgoTrader/
Precision Sniper is an overlay indicator that only generates entry signals when the 10-factor confluence scoring engine reaches a configurable threshold - combining EMA alignment, RSI momentum, MACD direction, VWAP position, volume confirmation, ADX trend strength, DI directional pressure and higher time frame deviation into a single composite score (0-10). Each signal comes with automatic take-profit/stop-loss settings, using ATR-based or structure-based stops, and a progressive trailing stop system that adjusts the stop to breakeven after TP1 and to TP1 levels after TP2.
Each factor in the scoring engine measures a different market dimension:
— EMA Fast/Slow Crossover → Detect Momentum Changes on Initiating Signals (Triggers) — Exponential Moving Average Trend → Confirm Macro Direction (Structural Filtering)
— Relative Strength Index → Confirms that momentum is in non-extreme territory (avoiding overbought markets)
— MACD Histogram + MACD with Signal → Confirms that momentum is accelerating, not decelerating (2 factors)
— Volume weighted average position → Confirms price to the right of institutional fair value — Volume → Confirms market participation (not low liquidity wick)
— ADX+DI → Confirm that the market is trending and directional pressure is consistent (not volatile)
— HTF EMA Bias → Confirms that the higher time frame trend is in line with the entry direction
Latest version below: Added max bar history = 1000 inside all codes.
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