Tactical Pip Hunter

This MT5 expert adviser is based on price action trading, which is a method of technical trading that relies on observing price movements and patterns. It can capture trend phases as well as be used as a scalping tool. The settings allow both options. You can also adjust the take profit and stop loss levels dynamically according to the market conditions by using the average daily range (ADR).

However, you should always do your own backtests with your data and understand that profits are not guaranteed. This expert adviser does not use any martingale or grid systems, but always sets a stop loss.

Advantages:

• It can adapt to different market conditions and trading styles
• It can exploit the price action signals without relying on lagging indicators
• It can manage the risk and reward ratio with dynamic take profit and stop loss levels
• It can run automatically on the MT5 platform without human intervention
• It can lock in profits and protect them from sudden reversals
• It can let the winners run and cut the losers short by using a trailing stop
• It can limit your daily drawdown, by closing all positions opened by the EA to pass funding challenges like FTMO. (Caution: It will not close positions of other EAs!)

To get the best performance out of the EA, we recommend using a broker that supports fast execution, low spreads and low commissions per lot. This way, you can minimize the slippage. It is also advisable to use a VPS.