Zone Hunter Signal - Price Action Based MT4 Indicator

Zone Hunter Signal - Price Action Based MT4 Indicator

Zone Hunter is a smart price action indicator that identifies breakout signals and potential re-entry opportunities based on adaptive price range zones. It helps traders spot moments when price pushes beyond dynamically calculated support or resistance levels and then pulls back to offer additional entry chances.

Core Concept Includes:

• Calculation of dynamic support and resistance zones using recent highs and lows
• Buy and sell breakout signals when price crosses outside the zone with momentum
• Re-entry signals if price pulls back into the zone while the trend remains valid
• Real-time alerts and arrows to notify traders of breakout and re-entry events

Zone Hunter is ideal for scalpers and intraday traders who capitalize on momentum-based entries and price continuation setups.

How It Works

Signal logic is based on:

• Dynamic Range Zone: Based on the highest high and lowest low over a configurable period (Length), the indicator defines a zone of equilibrium.
• Risk Adjustment: The width of the zone is modulated by the Risk parameter to control signal sensitivity.
• Breakout Signals: A breakout is detected when price closes above the upper range (buy signal, blue arrow) or below the lower range (sell signal, red arrow).
• Re-Entry Logic: After a breakout, if price pulls back into the breakout zone, a second-chance entry arrow is shown in the direction of the previous signal (blue for buy, red for sell).
• Closed Candle Check: All signals are based on closed candles for reliable and non-repainting signals.

All detection is performed using closed candles, ensuring robust signals and clean charts.

Arrows and Alerts

The indicator shows visual and audio cues to help traders act decisively:

• Blue Arrows: Indicate bullish breakout and re-entry signals (buy).
• Red Arrows: Indicate bearish breakout and re-entry signals (sell).
  
  
  
  

Parameters Overview

• Length: Number of bars used to calculate the highest high and lowest low for the range zone.
• Applied_Price: Defines which price (close, open, etc.) is used for the breakout comparison.
• Risk: Modifies the sensitivity of the dynamic range. A higher value tightens the zone and increases signal frequency.
• UseReEntry: Enables (1) or disables (0) the re-entry signal logic.
• AlertMode: Enables (1) or disables (0) alert messages when a breakout or re-entry occurs.
• WarningMode: Enables (1) or disables (0) sound alerts.
• WarningSound: Filename of the .wav file to play when a signal is generated.

All parameters are fully customizable to match scalping or intraday breakout strategies.

Best Use Practices

• Recommended Markets: Excellent on Forex majors, indices, and crypto.
• Best Timeframes: M1 to M30 for scalping and fast intraday setups.
• Sessions: Optimal during London and New York sessions when volatility supports breakouts.