Expert Advisor “Forex Hunter” — a typical trend robot

Hello, dear Forex traders. We present to your attention profitable Forex expert advisor Forex Hunter. This is a typical “representative” of the trend of robots, which benefit from large moves, while they give a small loss from small moves. Its distinguishing feature is working with three pairs, it seeks entries in the direction of the trend for large movements “hunting”.

We all know a simple truth: Profit must be at least 2 times more than Stop. This robot demonstrates the wisdom of this simple axiom.

In this review, we’ll test the robot on the recommended currency pairs and evaluate the results.

Characteristics of the EA

Platform: Metatrader 4
EA version: 5.1
Currency pairs: EURUSD, EURJPY, GBPJPY
Timeframe: H1
Working time: round the clock
Recommended brokers: Roboforex

Installation instruction

The Advisor must be installed as usual. If you first encountered with Forex robots and you have a lot of questions, read this article.

In this EA, ex4 files were developed for each pair. Settings for each pair can be set individually.

Attention! In the activation_code parameter, you should enter any number, or the EA will not work.

EA Strategy

The EA refers to the trend robots that trade during high volatility. The method of trading: trend detection using the built-in volatility indicator. False activations are filtered with the help of retreat from boundaries of the indicator channels. The closing of orders may occur for SL and TP, or you can use a trailing order, with using a separate channel.

The adviser may use the tactic of increasing the lot when losses happen (martingale), but the size of increasing of the step and the maximum size of the increased lot are set in advance. Martingale is disabled by default.

Example of work of the EA Forex Hunter

1) Opening of the order with StopLoss:

2) Setting the Stop to breakeven:

3) Trailing of Stop:

4) Profit!

The expert is a stable robot, which is designed for long-term work in various market conditions, but it can take some time to start getting profit.

Attention! Expert Advisor “Forex Hunter” can use the strategy of increasing a lot when losses happen (martingale), however, this strategy may be switched off in settings.

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Backtests of the EA

Backtests were done for each pair separately because the platform Metatrader 4 does not allow doing multicurrency tests.

The first series of tests is done with a fixed lot. This allows you to evaluate test results without considering money management.

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Forex Hunter EURUSD 2006 - 2016 lot 0.1, AutoRisk=0

The test results are unstable

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Forex Hunter EURJPY 2006 - 2016 lot 0.1, AutoRisk=0

The test results are good

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Forex Hunter GBPJPY 2006 - 2016 lot 0.1, AutoRisk=0

The test results are good

The second series of tests is done with the proportional (dynamic) lot. This allows you to evaluate test results taking into account money management.

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Forex Hunter EURUSD 2006 - 2016, AutoRisk=3

The test results show unstable results again

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Forex Hunter EURJPY 2006 - 2016, AutoRisk=3

The test results are good

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Forex Hunter GBPJPY, 2006 - 2016, AutoRisk=3

The test results are good

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Due to this instability of the Forex Hunter on EURUSD currency pair, we exclude this pair from further consideration.

Using the program EA Analyzer, we will make a consolidated statement about tests of EURJPY and GBPJPY pairs with a fixed lot (in pips).

Now, using the same program EA Analyzer, we will make a consolidated statement about tests of EURJPY and GBPJPY pairs with the proportional lot (in money).

Conclusion: the EA Forex Hunter when you work with proportional lots on EURJPY and GBPJPY pairs shows a steady growth in profits without significant drawdowns. However, we must be prepared for the fact that the EA may be in the neutral zone sometimes.

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Real account monitoring

(the Expert Advisor trades with a fixed lot, without using martingale)

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Description of the settings

The settings of the robot are as follows:

• activation_code— activation code, in this version of the EA you need to enter any number
• Robot_Comment— order comments (optional)
• Magic— magic of the orders on this currency pair
• Max_SpreadMaxSpread— maximum allowable spread
• Max_Slippage— slippage
• NFA— includes compatibility with brokers operating under the regulation of the National Futures Association. If you are not American you don’t need it
• Lots— fixed lot size
• Auto_Risk— the dynamic lot size in % of free margin. For example, if your account free margin is 10000 and you set Auto_Risk=5, the EA will open a position with lot size = 0.5
• Aggressive_MM — activation of martingale mode, it works if Auto_Risk>0. Attention! It is not recommended to enable this mode (Aggressive_MM=true) with the parameter of Auto_Risk more than 1 % (Auto_Risk=1).
• Multiplier— Ratio of lot multiplier when placing the next order after a loss. You should trade with increased lots until you will be able to get out of drawdown.
• Max_Risk– the maximum possible risk when using

Agressive_MM=true

• Tuesday_Doubletrading with double lots on Tuesdays ( it is considered that the trends are maximum on Tuesdays)
• StopLoss— StopLoss
• TakeProfit— TakeProfit
• Volatility_Break— retreat from the boundaries of the built-in volatility indicator in pips
• Volatility_Period— the period of the built-in volatility indicator
• Volatility_Max— maximum value of the built-in volatility indicator for opening of the orders
• Fixed_Trailing— the size of the fixed trailing in pips. If it is zero, we use the trailing by volatility (see below)
• Vola_Trailing— the size of trailing by the built-in volatility indicator for trailing, it works when Fixed_Trailing=0
• Trailing_Period— the period of the built-in volatility indicator for trailing

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Recommended money management

It is recommended to use risk per trade in the size of 1% from the deposit for each pair.

The adviser calculates a trading lot automatically, you just need to specify it in the settings.

The results

The EA Forex Hunter is a stable trading trend robot, which is profitable for using in a quite long period. However, in the short term, it may not be profitable, that is connected with its focus on large and protracted trends. Also, note that the EA trades not very often.

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Important!

For the correct working of the EA, your trading terminal should be enabled from the market open on Sunday night to its closing on Friday evening. If you have no way to keep the computer in working order 24/5, it is recommended to use the service of VPS server.

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Download EA “Forex Hunter”