Snake Trading System MT4

Snake Trading System MT4 is a trend following scalping forex trading system. This forex trading strategy works best in a trending environment. Snake Trading System should be used for swing trading purpose and scalping purposes. Many signals are generated on the counter trend direction too but they should be ignored. My main purpose of this blog has always been to share the trend following strategies which actually work in the real market. I believe that only the trend following strategies can make money consistently.

Snake Trading System Overview

The picture below is how snake trading system looks like:

Snake Trading System MT4 Overview
Snake Trading System MT4 Overview
Time FrameCurrency PairsNumber of IndicatorsRatings
M15, H1, and H4Any59.8/10

 There are more than 5 indicators in this system but I’ve only mentioned the important ones. Based on back testing results, this system is rated as 9.8 out of 10.

Snake Trading Indicators

Snake Trading System Indicators
Snake Trading System Indicators
  • Moving Averages

There are two moving averages used in this trading system. One of the moving averages is named “Snake” and another is a simple moving average of period 14. Blue moving average is a shorter moving average and pink is a slower one. Crossover of these two indicators generates buying and selling signal.

  • Arrows

You will see pink and blue arrows in the main chart window. Blue arrow is a buying signal while pink arrow is a selling signal.

  • Snake in Borders

Snake in borders indicator consists of histogram which moves in positive and negative territory. Positive histogram means buying and vice versa.

  • Fisher

Fisher is also another filtering mechanism. Green histogram is an indication of bullish market and vice versa.

  • GMACD

This indicator gives the summary of the market trend over various time frame. With the help of this indicator you should make sure that you are in the right direction of the market.

Do Not Miss: Best Forex Strategy

Snake Trading System: Buying Parameters

Snake Trading System Buy Parameters
Snake Trading System Buy Parameters
  • GMACD indicator should indicate Trend/UP signal on the time frame you are watching.
  • Blue moving average should cross above the pink moving average.
  • A blue arrow should appear below the market.
  • Snake in Borders indicator should form positive histograms.
  • Fisher indicator should form positive histograms.
  • Place your buy position when above parameters are met.
  • Place your stop loss below the recent swing low.
  • Book your profit when a pink arrow appears above the market.

Snake Trading System: Selling Parameters

Snake Trading System Sell Parameters
Snake Trading System Sell Parameters
  • GMACD indicator should indicate Trend/DN signal on the time frame you are watching.
  • Blue moving average should cross below the pink moving average.
  • A Pink arrow should appear above the market.
  • Snake in Borders indicator should form negative histograms.
  • Fisher indicator should form negative histograms.
  • Place your sell position when above parameters are met.
  • Place your stop loss above the recent swing high.
  • Book your profit when a blue arrow appears below the market.
Free Download Snake Trading system
Free Download Snake Trading system
Share on:

Get E-Book Worth $100 for Free!!!
in your inbox

Thank you for subscribing. Check your mailbox

Something went wrong.

I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

Leave a Comment