Inside Bar Hunter
- Experts
-
Worapong Longwong
MQL5 developer specialising in Expert Advisors, indicators and trading utilities for MetaTrader 5, with a focus on gold (XAUUSD) and major forex pairs.
- 30+ products published on the MQL5 Market (Expert Advisors, utilities and indicators), all passing Market validation. - Version: 1.0
- Activations: 5
Price-action EA: trades the breakout of an inside-bar (mother bar) pattern in the direction of the trend EMA.
Inside Bar Hunter is a fully automated Expert Advisor for MetaTrader 5 - inside-bar breakout with trend filter. Compression, then release - trades the break of the mother bar. It is designed for XAUUSD (gold) and also runs on forex majors such as EURUSD and GBPUSD.
How it trades
- Pattern - a mother bar followed by an inside bar (lower high and higher low). The mother bar range must be between a minimum and maximum ATR size.
- Breakout - the next closed bar must close beyond the mother bar high (buy) or low (sell).
- Trend filter - buys only above the trend EMA, sells only below it (can be switched off).
- Stop-loss beyond the inside bar (or the mother bar, your choice) plus a small ATR buffer; take-profit at an R-multiple (default 2R).
- Break-even at 1R (0 = off).
Risk management (built in)
- Every trade is opened with a stop-loss. There is no martingale, no grid and no averaging down.
- Position size from risk % of equity (default 1%) or a fixed lot; lots are normalised to the broker's min / max / step and reduced if free margin is not enough.
- Daily loss limit: no new trades for the rest of the day once equity is down the set % from the day-start equity.
- Max spread filter, optional trading-hours filter, and no orders while the market is closed or trading on the symbol is disabled.
- Stop-loss / take-profit are always placed outside the broker's stops and freeze levels.
- Works on hedging and netting accounts (on netting accounts it opens only when the symbol has no other position).
- One position at a time per magic number; signals are evaluated once per closed bar (no repainting).
Inputs
| Input | Default |
|---|---|
| Signal timeframe | H1 |
| Trade only with the trend EMA | true |
| Trend EMA period | 50 |
| Minimum mother bar range (x ATR) | 0.6 |
| Maximum mother bar range (x ATR) | 3.0 |
| Stop beyond the mother bar (false = beyond the inside bar) | false |
| ATR period | 14 |
| Extra stop buffer (x ATR) | 0.1 |
| Minimum stop distance (x ATR) | 0.5 |
| Take-profit (R multiple, 0 = none) | 2.0 |
| Move stop to break-even at this R (0 = off) | 1.0 |
| Risk per trade (% of equity), used when Fixed lot = 0 | 1.0 |
| Fixed lot (0 = size from risk %) | 0.0 |
| Maximum lot per trade (0 = broker maximum) | 10.0 |
| Daily loss limit (% of day-start equity, 0 = off) | 3.0 |
| Max spread (points, 2-digit gold scale: 100 = 1.00 USD; 0 = off) | 50 |
| Max slippage (points, same scale) | 30 |
| Trade only inside the hours below | false |
| Trading start hour (server time, 0-23) | 1 |
| Trading end hour (server time, 0-23) | 22 |
| Show status panel on the chart | true |
| Magic number (change it to run several instances on one symbol) | 26102205 |
Recommended
- Symbol / timeframe: XAUUSD on the default timeframe shown above; also forex majors. Test other timeframes in the Strategy Tester first.
- Account: hedging or netting, any deposit that allows the broker's minimum lot with a sensible risk %.
- VPS: recommended for uninterrupted operation.
Important notes
- No trading system can guarantee profit. Past performance, in the tester or live, does not guarantee future results.
- Always test the EA in the MetaTrader 5 Strategy Tester and then on a demo account before using real money, with your broker's own data and spread.
- Hours are in your broker's server time.
- Start with a low risk % and use money you can afford to lose.
