Price hunter EA MT4

Key Features & Trading Strategy

Here are the features as described in the listing: 

1. Core Trading Logic

   • Uses a filtered breakout strategy. 

   • Two complementary indicators are used:

     • Bollinger Bands (BB) → detects overbought/oversold zones; crossing lower band triggers potential buys, crossing upper band triggers potential sells.

     • Relative Strength Index (RSI) → confirms trade direction. For example, RSI < 50 confirms buy signals, RSI > 50 confirms sell signals.

2. Order Execution

   • Uses pending orders: Buy Stop and Sell Stop orders (rather than market orders).

   • Stop-loss is dynamically calculated using recent volatility and/or user settings. 

3. Risk & Trade Management

   • Dynamic lot sizing: Lots are calculated based on account balance (there is a parameter “LotsPer1000”); also option to set fixed lot size. 

   • Lot size constraints: minimum/maximum lot sizes, lot step size validation. 

   • Spread & liquidity controls: Trades only placed if current spread is below a threshold (def_MaxSpread), uses average recent spreads to avoid entering under unfavorable conditions. 

   • Stop Loss & Take Profit are adaptive. Also pending orders may get adjusted to protect open trades. 

4. Safety Filters / Operational Conditions

   • Use of magic number to distinguish this EA’s trades. 

   • Time filters: trades only between certain hours (StartHour / EndHour) to avoid undesirable market periods.

   • Margin checks: ensures there’s enough free margin before placing orders. 

5. Visualization / Monitoring

   • The EA provides graphical feedback: dashboard that shows current spread, time remaining in candle/bar, volatility zones, key support/resistance levels.

6. Compatibility

   • Works across all symbols and all timeframes. 

What the EA Does Not Appear to Include (or Unclear Items)

• It’s version 1.0 — likely fairly new, so possibly fewer user reviews or less field testing. 

• Unclear whether there are features such as hedging, grids, martingale. It seems focused on breakout + confirmation strategy, so likely no heavy risk-techniques.

• It doesn’t explicitly say whether stop-loss/take-profit are fixed or trailing; though some adaptive behavior is mentioned. 

• No mention of how it handles news events, high volatility spikes, slippage, etc.

• No performance history (backtest/live account) is linked in the description (at least from what is in the listing).

Strengths, Potential Advantages

• Use of two filters (Bollinger + RSI) should reduce false signals compared to just one indicator.

• Dynamic risk management (lots per balance, spread checks, etc.) helps to adapt to account size and broker conditions.

• Pending orders (Buy Stop / Sell Stop) allow the EA to enter breakouts rather than chasing moves after they begin.

• Time filters and spread filters help avoid poor trading conditions.

• Visualization dashboard helps trader monitor what the EA is doing (which may give more trust/control).

Possible Risks / Limitations

• As always, breakouts are tricky: price can “fake” breakouts or get whipsawed. Without strong filters, this can lead to many small losses.

• Pending orders may be affected by slippage, slippage at breakout, or gaps.

• If sensitivity setting of volatility filter / spread filter not well tuned, may miss good trades or take too many bad ones.

• If used on illiquid pairs or during news, spread widening could kill profits or trigger loss orders early.