Golden Hunter MT5
- Indicators
- Rodrigo Arana Garcia
- Version: 1.10
- Updated: 24 February 2023
- Activations: 10
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Golden Hunter has been developed for traders who trade manually in the markets. It is a very powerful tool consisting of 3 different indicators:
- Powerful entry strategy: Formed by an indicator that measures the volatility of the currency pair and identifies the market trend.
- LSMA: Smoothes the price data and is useful to detect the short term trend.
- Heikin Ashi: Once the indicator is attached to the chart, the Japanese candlesticks will change to Heikin Ashi candlesticks. This type of candlestick smoothes the price information, which allows solid trends to be detected.
Features
No repainting | This indicator does not change its values when new data arrives |
Trading pairs | Pairs with very low spreads and which are volatile (EURUSD, GBPUSD, BTCUSD...). It is not recommended to use range pairs |
Time period | M5 |
Trading time | It is preferable to trade during daylight hours when there is more movement in the markets and spreads are kept low |
Requirements
It is mandatory to use an ECN broker with tight spreads for scalping positions.
How to install
Attach the indicator to the preferred trading pair (Time Period M5).
Configuration
The default setting is the most effective I have found for 5 minute time frames.
You can use a setting that best suits your trading mode.
How to use it
It is very simple to use (explained in pictures): The indicator will show buy and sell signals as the price moves.
- A buy position should only be opened when the signal (arrow) is above the white line.
- A sell position should only be opened when the signal (arrow) is below the white line.
When to close the trade: Two methods can be used.
- When the candles cross the white line.
- Using an extra indicator that draws supports and resistances, closing the trade when both supports and resistances are reached. (In a future update I will try to add this functionality to the indicator).
Warnings
I only sell my EA's on MQL5.com. If someone contacts you to sell you my EA's, then they are scammers who only want your money.
Also if you buy my EA's from an external website, I assure you that they will be fake versions and will not work the same as the originals.
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