Forex Hunter Expert Advisor - a Typical Trend Robot

Hello, dear forex traders. We present to your attention the profitable forex expert advisor Forex Hunter. This is a typical "representative of the species" of trend robots that profit from large moves, and take small losses on minor ones. Its distinguishing feature is work on three pairs, the advisor looks for entries in the direction of the trend to "hunt" for large moves.

We all know a simple truth: profit should be at least 2 times larger than the stop. This robot clearly demonstrates to us the wisdom of this simple axiom.

In the review we will test it on the recommended currency pairs and evaluate the results obtained.

Platform: Metatrader 4
Expert advisor version: 5.3
Currency pairs: EURUSD, EURJPY, GBPJPY, USDCAD, USDJPY
Timeframe: H1
Working time: around the clock
Recommended brokers: Alpari, Roboforex

We install the advisor as usual. If this is your first time dealing with robots on Forex and you have a lot of questions, download and watch the Forex on Autopilot course.

In this advisor, separate ex4 files are made for each pair used. The settings for each pair can be set individually.

Attention! In the activation_code parameter you must enter any number, otherwise the advisor will not work.

The advisor belongs to trend robots that trade during increased volatility. Trading method: trend determination with the help of a built-in volatility indicator. False triggers are filtered by an offset from the channel boundaries of the indicator. Order closing can occur by the set stop-loss and take-profit, or trailing of orders can be used, with the use of a separate indicator.

The advisor can use the tactic of increasing the lot after losses (martingale), but the size of the increase step and the maximum size of the increased lot are set in advance. Martingale is turned off by default.

An example of the work of the Forex Hunter advisor

1) Opening an order with a stop-loss:

2) Moving the stop to breakeven:

3) Trailing the stop:

4) Profit!

The expert is a stable robot that is designed for long-term operation in various market conditions, however it may take some time to reach profit.

Attention! The "Forex Hunter" expert advisor may use a strategy of increasing the lot after losses (martingale), however, this strategy can be disabled in the settings.

The backtests were done for each pair separately, since the Metatrader 4 platform does not allow multicurrency tests.

The first series of tests is carried out with a fixed lot. This makes it possible to evaluate the testing results without taking money management into account.

Forex Hunter EURUSD 2005 2015 lot 0.1

The test results are unstable

Forex Hunter EURJPY 2005 2015 lot 0.1

The test results are good

Forex Hunter GBPJPY 2005 2015 lot 0.1

The test results are good

The second series of tests is carried out with a dynamic proportional lot. This makes it possible to evaluate the testing results taking money management into account.

Forex Hunter EURUSD 2005 2015 lot MM

The test results again show unstable results

Forex Hunter EURJPY 2005 2015 lot MM

The test results are good

Forex Hunter GBPJPY 2005 2015 lot MM

The test results are good

Due to the unstable performance of the Forex Hunter expert advisor on the EURUSD pair, we exclude this pair from further consideration.

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

And now, using the same EA Analyzer program, let us make a summary statement for tests of the EURJPY and GBPJPY pairs with a proportional lot (in money).

Conclusion: The Forex Hunter expert advisor, when working with a proportional lot on the EURJPY and GBPJPY pairs, shows steady profit growth without significant drawdowns. However, you need to be prepared for the fact that for some time the expert advisor may remain in a neutral zone.

⇒Links to all the backtests used in the article (for independent analysis) can be found in the thread on our forum: Forex Hunter .

(the expert advisor trades with a fixed lot, without using martingale)

The robot settings look as follows:

A risk per trade of 1 percent of the deposit for each pair is recommended.

The expert advisor calculates the trading lot automatically; you only need to set it in the settings.

The Forex Hunter expert advisor is a stable trend-following trading robot, the use of which is profitable over a sufficiently long period. However, in the short term it may not generate profit, which is related to its focus on large and prolonged trends. Also note that the expert advisor does not trade often.

Update:

Over 5 years of monitoring on a live account, we saw that only the EURUSD and EURJPY pairs are profitable. It is not recommended to use the expert advisor on the other pairs.

For the expert advisor to work correctly, the trading terminal must be turned on from the market opening on Sunday evening until its closing on Friday evening. If you do not have the ability to keep the computer running 24/5, then it is recommended to use a VPS server service.

Forum thread

Best regards, Alexey aka Merlin Tlap.io