Sniper Layout
Sniper Scan Patterns
The Sniper family of scan patterns are five precision scan patterns named as - Catfish, Fence Sitter, Fireworks, Godzilla and Humpty Dumpty. These patterns use location of price on three different time frames and volatility in the short term time frame determine which of the five standard sniper setups are active for the symbol.
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The five standard Sniper setups are
​Fireworks: Symbols in this setup are explosive like firecrackers. They are at the upper end of their price location on the long and mid term. We don't care about their short term location, nor their volatility. Most will always be highly volatile.
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Humpty Dumpty: Symbols that find themselves after a great fall. They were on a long term basis flying high, but their mid-term price location has collapsed. After this great fall, they are unusually quiet. Look for a reversal or a resumption of their downfall.
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Fence Sitter: As the name implies, this symbol is smack bang in the middle of possibilities. It could jump up or jump down.
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Godzilla: A pre-historic monster has emerged from the deep. It is enraged and ready to do some damage. Symbols that are in the bottom of their long term and mid term price locations, but highly volatile fit the criteria.
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Catfish: While similar to Godzilla, in that it is at the bottom of their long and mid term price location, but unlike the beast Godzilla, it is quiet. We expect this to be a stealth trade.
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Charts​
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We have two indicators, SniperLocation and SniperVolatility, on three different timeframes to help you learn and internalize these patterns. When trading, you are not expected to make decisions from three charts. We provide scans for you that will do the filtering. Once filtered, you can should use your 'standard trading chart template' to trade symbols identified by the scans.
Layouts​
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We have two layouts, one suitable for intraday selection and the other for end of day. Each layout includes the five standard setup scans, column indicators and chart indicators on three timeframe to help you develop the intuition for the patterns. Finally we have these two layouts with identical functionality but in the two color modes, LM for light mode and DM for dark mode.​
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Daily versus Intraday.
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Since the sniper patterns look across three time frames, we have two kinds of Sniper patterns. One for the end-of-day trader which we call SniperDaily. It uses weekly, daily and 30 min time frames for the long, mid and short term time frame respectively. Volatility is calculated using the short term time frame bars.
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For the intraday trader, we have SniperITD (ITD means Intraday) which uses Daily, 30 min and 3 min for the long term, mid term and short term timeframes respectively. Volatility is calculated using the short term time frame bars.
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Let's take a look at the SniperITD.LM layout below. The five setup scans are on the left hand side. There are three charts on the Daily, 30 min and 3min corresponding to the long term, mid term and short term time frame for intraday.
Let's take a look at the Fireworks scan columns. It has identified symbols that fit the criteria.
The remaining scans are similar, but of course, with the appropriate scan formulae.
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Note that in Catfish, Humpty Dumpty and Fireworks the short term location column does not matter and is thus hidden to avoid cognitive overload. Fireworks pattern also doesn't care about volatility so that column is hidden.