Trend Hunter EURUSD
Trend Hunter EURUSD is a safe automated MetaTrader 4 Expert Advisor working off of the 5 Minute EURUSD chart that places a trade when a trend is identified.
The EA uses a trend-following strategy based off of Moving Averages, setting Take Profit, Stop Loss, and Trailing Stops to Optimize and Protect every trade and the Account Balance at all times. It attempts to ride out turbulent market events with low drawdown and only opens trades when a clear market direction is established. Due to this, it will only trade on average 1-2 times a week. With this strategy, the default settings showed optimal results during testing.
The EA is a simple EA, with a simple display interface and efficient code to speed up execution time. The EA is designed to be fast and efficient at trading and backtesting. The EA does not require low spreads to make good trades. This EA is recommended to be run on larger accounts, but can be run on smaller accounts as well. All tests used to design this program were done on real ticks.
Maximum average drawdown on default settings is targeted for 10%. The minimum deposit is $500 on a 1:50 leveraged account. The recommended deposit is $2000 or more.
There are 4 Trading Strategies Used by this EA:
- Trade Type 1: Selling on Large Market Dips
- Trade Type 2: Selling The Retraction After a Large Spike
- Trade Type 3: Buying on Large Market Spikes
- Trade Type 4: Buying The Retraction After a Large Dip
Input Parameters that can be set
- spreadAllowed = Max Spread at time of trade open.
- MagicNumber = Unique Number used to identify Trades made by EA.
- AllowTradeLive = True will let the EA trade Live.
- HardLotSize = Setting this to a Non-Zero Value will set a fixed Lot Size to Trade.
- LotSize = This value will be used on only the first trade when HardLotSize is 0.
- Risk = This is a value of 1-100.
- LotFollow = Range 0-1. Used to further determine the risk associated with each Trade Type.
- StopLoss = This determines in Pips the Stop Loss Associated with each Trade Type.
- TakeProfit = This determines in Pips the Take Profit Associated with each Trade Type.
- LossProfitMove = This determines when a losing position uses a new Take Profit.
- NewTakeProfit = This is a value in Pips that the TP is set to off of the Open Price when the LossProfitMove value is reached.
- TradeLossIncrease = This is a Percentage (50=50%) that the next trade is increased in size by if the previous trade resulted in a loss.
- TradeWinDecrease = This is a Percentage (20=20%) that the next trade is decreased in size by if the previous trade resulted in a win.
- TrailingStop = This determines in Pips the point at which when Profit is seen, that the Stop Loss is moved to a profitable position.
- tradeType = This is only used if you need to restart the EA, set this to 1-4 based on the currently opened trade type.
- sleepMsTPSL = This is a delay in ms between the original order and modifying of the TP and SL Values.
Recommendations on Usage
- Modify the Risk Setting and the LotSize Parameters only. The Lotsize Parameter will determine the size of the first trade that opens and the Risk Setting will determine all others.
- The Risk setting will generally give a drawdown of half of the setting based on default parameters. So a setting of 50 will give a likely max drawdown of 25%.
- If an order is opened by the EA, you can close it manually.
- Trades left open over the weekend are likely to be successful, so it is recommended to not close them.
To My Customers
Please don’t hesitate to message me about any questions that you might have, I will be happy to help.
Benjamin Patri – Programming expert in development, design, and optimization of automated trading programs with more than 7 years of Forex Experience and over 10 years of Trading Experience.