TTE Excess EA
The ExcessEA is perfectly tailored for trading StopHunts in combination with the entry method of fair value and excess areas.
You can read more about the method of fair value here: https://the-tradersedge.com/stophunts/
The StopHunts indicator marks an area ahead of price with a rectangle. Within these rectangles pending orders should be placed as it is most likely that within these areas, the smart money/market makers will go for stop hunting or lure the herd in the current trend direction just to reverse price. The EA works as follows.
Once you marked your fair value, excess areas and got a high probability setup signaled by the StopHunts indicator, you simply attach the EA to your chart. And in the example below name the lower trendline “BUY” in the properties. The EA will automatically create additional trendlines that are actually pending buy orders once triggered by price.
Once the pending orders are triggered, you can add horizontal lines that act as your Take Profit or Stop Loss. Simply name your horizontal line “TPbuy” and the TP will be set. Easily adjustable by dragging the horizontal lines up and down.
All settings like lotsize, number of pending orders, naming etc. are easily customizable.
(NOTE: When you use it in the Strategy Tester be aware that, when the TP gets hit, the simulation stops. Because when you run the EA on
your actual account, it will be detached when the TP got hit in order not to trigger orders twice.)