🤖🧠 ALGO Sniper🤖🧠

How the Script Works

The ALGO Sniper Indicator is a powerful trend-following tool designed to identify high-probability trading opportunities with precise buy and sell signals. Built on Pine Script v5, it leverages advanced trend detection and risk management features to enhance trading decisions. Below are the key mechanics of the script:

1. Advanced Trend Detection: Utilizes a smoothed range algorithm and the proprietary Algo Sniper filter to identify market trends, ensuring accurate trend direction analysis.

2. Candle-Close Signals: Generates buy and sell signals only after candle confirmation (barstate.isconfirmed), eliminating lag and ensuring reliable entries.

3. Sideways Market Filter: Includes a "No Signal in Sideways Market" option to avoid false signals during low-volatility, range-bound conditions.

4. Dynamic Stop-Loss: Offers both manual (ATR-based) and auto (20-40 pips) stop-loss options, allowing users to manage risk effectively.

5. Flexible Take-Profit: Supports manual (user-defined pips) and auto (300-800 pips) take-profit settings for customizable profit targets.

6. Visual Clarity: Plots clear buy/sell signals with "STRONG BUY" and "STRONG SELL" labels, along with dashed stop-loss and entry lines for easy trade monitoring.

7. Customizable Inputs: Provides user-friendly inputs for scan range, observation period, stop-loss offset, line colors, and thicknesses to tailor the indicator to individual preferences.

8. Alert System: Includes alert conditions for buy, sell, and take-profit events, enabling users to stay informed about market opportunities.

9. Volatility Adjustment: Adapts to market conditions using a smoothed range multiplier, ensuring robust performance across different assets and timeframes.

10. Non-Repainting Logic: Signals are generated post-candle close, preventing repainting and providing dependable trade setups.