Description:
Introducing the Stop Hunter, an innovative trading tool designed for MetaTrader 4 that operates on the "Stop Hunting with the Big Players" strategy.
This EA places BuyStop and SellStop orders at a specified distance from key price levels, effectively capitalizing on market movements.
Learn More About Stop Hunting:
For a deeper dive, check out these resources:
- Stop Hunting Definition (Investopedia)
- Stop Hunting with the Big Players (Investopedia)
Settings:
Zeroes: This refers to the number of zeroes to the right of the price.
Distance: This setting defines how far your orders should be placed from the key price targets.
The rest of the settings are pretty standard for this type of EA.
How to Use:
With the default settings, the Stop Hunter EA will hunt for stops in both directions. It can also be effectively paired with another strategy to help you decide whether to go Short or Long. Personally, I've had great success in backtesting it for both directions.
Backtest Results:
Here’s a look at some backtest results:
3-month backtest on AUDUSD M5 (Risk Percent: 10; other settings default)
1-year backtest on EURUSD M5 (Risk Percent: 40; other settings default)
Note: All testing has been conducted in a virtual environment with a spread of 0.
Best regards,
MT-Coder
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