Forex Euro Hunter Robot review:
Forex Euro Hunter Robot uses RSI 2-Period strategy to open a position. After opening a position it follows the price with trailing stop loss.
Euro Hunter is a fully automated Expert Advisor. It is designed for market conditions after 2017. All screenshots belong to backtests with EURUSD H1 timeframe since 01 January 2018.
Hunter is based on three main steps: Open a new order, follow the price and if needed update stoploss level.
This MQL4 Expert Advisor is an adaption of the trading strategy made famous by trading legend Larry Conners.
The EA essentially buys on the dips and sells on the rises.
Buy Signal: Current candle is above the 55 EMA RSI 2 period is below 10
Sell Signal: Current candle is below the 55 EMA RSI 2 period is above 90
ECN brokers are highly recommended for users to maximize the profit.
EA Settings: Use the default parameters.
Symbol: EURUSD is suggested.
Timeframe: H1 is suggested.
Brokers: ECN brokers, low spread/commission, non-FIFO or FIFO.
Trading Condition: Ranging.
Minimum Deposit: $100.
!!! Important Note: Before back test, be sure the history data downloaded fully and correctly !!!
Lots – Initial volume to open positions.
MaximumSpread – Limits to open new positions with high spread symbols.
MaximumLongPositions – Limits to open new long positions. For each bar a new position can be opened until the number of the positions reaches the defined limit.
MaximumShortPositions- Limits to open new short positions. For each bar a new position can be opened until the number of the positions reaches the defined limit.
StopLoss: This parameter defines the initial stoploss level.
TrailingStop: For each pips of defined TrailingStop move, Hunter updates the stop loss level.
TrailingStep: For each stop loss update, Hunter updates the stop loss level with the pips of defined TrailingStep behind.
Comments: Defines the comment for each position opened by Euro Hunter.
MagicNumber: Defines the magic number for each position opened by Euro Hunter.