MT Hunter Strategy For MT4
Table Of Contents:
- MT Hunter Strategy For MT4
- The MT Hunter Strategy For MT4 – Long positions
- The MT Hunter Strategy For MT4 – Short positions
- Is the MT Hunter Strategy For MT4 profitable?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The MT Hunter Strategy For MT4 comes across as a rather simple trading system. There is a very good chance that you might have come across similar trading strategies that makes use of almost the same set of indicators. Therefore, if you are actually looking out for the trading system that can offer you a real edge in the markets, you should give this trading system or miss.
There are quite a few indicators that are used in this trading system. However, the most interesting part to note is that the indicators that you see are a result of a customized proprietary indicator. This means that not much information is known however you can simply replicate the trading conditions by using regular indicators such as the moving averages and a couple of oscillators.
The first indicator on the price chart is called the 100 pips momentum indicator. There is not much of customization that you can do here. The only changes allowed are basically visual changes which means that you can merely change the color and the thickness of the lines which resemble a moving average.
The MT Hunter strategy for MT4 also makes use of the intraday pivot levels. You can use the pivot levels as the potential price points for taking long or short positions. Alternately you can get rid of this indicator as it does not offer much in terms of the trading strategy itself.
In the second sub window of this trading strategy, we have a custom indicator called the BB trigger. We understand that this indicator is based off the Bollinger bands indicator. There are two lines which crossover each other. There is also the zero line across which these indicators move. Depending on how the indicators are positioned along the zero line it can depict a bullish or bearish market.
In the second sub window of the MT Hunter strategy for MT4, we have another custom indicator called the Delta trend indicator. This indicator as can be seen plots over histogram which can change color from red to green and vice versa. The basic understanding is that the Delta trend indicator can be used as a confirmation for your trades.
So far, from what we see in this trading strategy he's just a customization of some of the standard indicators that are used. Instead of using these custom trading indicators you can actually make use of the standard indicators which can offer a lot more meaning to the trading system. Having said that let's now take a look at how you can trade long and short positions using this trading system.
The MT Hunter Strategy For MT4 – Long positions
In order to take long positions using the MT Hunter strategy for MT4, we should start by looking at the two moving averages on the price chart. Bullish conditions are signaled by the market when you see the moving average is making a crossover here, we should see the blue moving average trading above the red moving average.
The next step is to look at the BB trigger indicator in the first sub window. Here we need to see these two indicators trading above the zero line. Another factor to bear in mind is that the yellow line should be trading above the red line. This will confirm that the market trend is to the upside.
Finally, the Delta trend indicator can also be used as a confirmation tool. However, this indicator lags quite a bit. Therefore, you can ignore the signal sometimes. Once the above conditions are correct, you can place a long order at market. Set your stop loss to the low that formed very close to the moving average. You can set your take profit level based on the pivot level indicators. Alternately just calculate a fixed risk to reward set up and set your take profit level accordingly.
The MT Hunter Strategy For MT4 – Short positions
In order to take short positions using the MT Hunter strategy for MT4, we should start by looking at the two moving averages on the price chart. Bearish conditions are signaled by the market when you see the moving average is making a crossover here, we should see the blue moving average trading below the red moving average.
The next step is to look at the BB trigger indicator in the first sub window. Here we need to see these two indicators trading below the zero line. Another factor to bear in mind is that the yellow line should be trading below the red line. This will confirm that the market trend is to the downside.
Finally, the Delta trend indicator can also be used as a confirmation tool. However, this indicator lags quite a bit. Therefore, you can ignore the signal sometimes.
Once the above conditions are correct, you can place a short order at market. Set your stop loss to the high that formed very close to the moving average. You can set your take profit level based on the pivot level indicators. Alternately just calculate a fixed risk to reward set up and set your take profit level accordingly.
Is the MT Hunter Strategy For MT4 profitable?
As demonstrated above, the MT strategy for MT4 is a trading system that you can definitely give a miss. there is nothing unique about this trading system and the fact that it makes use of some of the standard indicators into a customized indicator can become quite a bit annoying. This prevents traders from truly understanding how the indicators work.
Beginners to forex trading can definitely skip trading with this strategy. There is nothing unique about it and indicators are also quite obscure. Needless to say, the template that comes with this trading system is lightweight and easy to use. But in terms of further customization there is nothing much that this trading system can offer.
The trading system is ideally suited for the short term charts only this means that swing traders cannot make use of using this trading strategy on higher chart timeframes.
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