Gold Hunters Scope
- Indicatori
- Vishnu Bajpai
- Versione: 1.1
Gold Hunter’s Scope: Advanced Volatility Expansion and Trend Strength Signal Indicator for MetaTrader 5
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Overview
Hunter’s Scope is a professionally engineered MetaTrader 5 indicator developed to detect high-momentum price expansion using a structured combination of ADX trend strength confirmation and ATR-based volatility filtering.
The indicator identifies impulse candles that exceed normal market noise while confirming underlying directional strength. The result is a disciplined Buy and Sell signal system designed for traders who focus on volatility expansion rather than lagging crossover signals.
Although optimized for XAUUSD, Hunter’s Scope can be applied to any symbol or timeframe where volatility-driven strategies are used.
Signals are plotted directly in the main chart window, allowing traders to identify momentum-based opportunities clearly and efficiently.
Core Logic
Hunter’s Scope operates using a dual-layer confirmation model.
Trend Strength Filter (ADX)
The indicator measures directional strength using the Average Directional Index. Signals are generated only when the ADX value exceeds the user-defined minimum threshold, reducing exposure during flat or ranging market conditions.
Volatility Expansion Filter (ATR)
Using the Average True Range, the indicator evaluates whether the candle body exceeds normal volatility levels. Only candles that expand beyond a dynamic ATR multiplier qualify as valid impulse signals.
Impulse Confirmation
• Bullish impulse candle – Buy signal plotted below price
• Bearish impulse candle – Sell signal plotted above price
This structured filtering ensures that signals appear only during measurable expansion phases.
Key Characteristics
Hunter’s Scope is built around structural price expansion rather than reactive indicator crossovers.
• No repainting
• No lagging moving average cross logic
• No smoothing or averaging techniques
• Signals based on completed candle data
• Designed to filter low-volatility market conditions
The indicator highlights moments when volatility and directional strength align, creating conditions often associated with breakout continuation.
Visual Design
The indicator plots:
• Blue arrow below candle for Buy signals
• Red arrow above candle for Sell signals
Arrows are clearly offset for optimal readability, particularly on high-volatility instruments such as gold.
All signals are drawn directly in the main chart window without additional subwindows or unnecessary visual clutter.
Integrated Diagnostic Display
Hunter’s Scope includes a real-time on-chart information panel displaying:
• Current ADX value
• Minimum ADX threshold
• Current impulse candle size in points
• ATR-based volatility threshold
This transparency allows traders to understand the logic behind each signal and monitor market conditions in real time.
Applications
Hunter’s Scope is suitable for:
• Gold (XAUUSD) momentum traders
• Breakout strategy development
• Scalping systems focused on impulse detection
• Swing traders filtering strong expansion candles
• EA developers seeking volatility confirmation tools
The indicator can function as:
• A standalone signal generator
• A confirmation layer for automated systems
• A volatility timing filter
• A manual breakout trading assistant
Adjustable Parameters
The indicator allows full customization of:
• ADX Period
• Minimum ADX Threshold
• ATR Period
• ATR Multiplier
These inputs enable traders to adjust signal sensitivity according to market conditions and instrument volatility.
Performance and Efficiency
Hunter’s Scope is designed for stable real-time operation.
• Lightweight calculation structure
• Optimized bar recalculation logic
• Suitable for live trading environments
• Compatible with all MT5 broker types
Buffer-based plotting ensures smooth platform performance without excessive resource usage.
Intended Users
Hunter’s Scope is developed for traders who understand that sustained price movement is driven by volatility expansion combined with directional strength.
This is not a predictive indicator.
It identifies real-time expansion events based on measurable market conditions.
The indicator is designed for disciplined traders who prefer structured impulse detection over reactive signal systems.
