Golden Hunter MT5

Type: Indicators

Seller: Rodrigo Arana Garcia

Published: 13 January 2023

Updated: 24 February 2023

Version: 1.10

Downloads: 8600

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Golden Hunter has been developed for traders who trade manually in the markets. It is a very powerful tool consisting of 3 different indicators:

Powerful entry strategy: Formed by an indicator that measures the volatility of the currency pair and identifies the market trend.
LSMA: Smoothes the price data and is useful to detect the short term trend.
Heikin Ashi: Once the indicator is attached to the chart, the Japanese candlesticks will change to Heikin Ashi candlesticks. This type of candlestick smoothes the price information, which allows solid trends to be detected.

No repainting	This indicator does not change its values when new data arrives
Trading pairs	Pairs with very low spreads and which are volatile (EURUSD, GBPUSD, BTCUSD...). It is not recommended to use range pairs
Time period	M5
Trading time	It is preferable to trade during daylight hours when there is more movement in the markets and spreads are kept low

It is mandatory to use an ECN broker with tight spreads for scalping positions.

Attach the indicator to the preferred trading pair (Time Period M5).

The default setting is the most effective I have found for 5 minute time frames.

You can use a setting that best suits your trading mode.

It is very simple to use (explained in pictures): The indicator will show buy and sell signals as the price moves.

A buy position should only be opened when the signal (arrow) is above the white line.
A sell position should only be opened when the signal (arrow) is below the white line.

When to close the trade: Two methods can be used.

When the candles cross the white line.
Using an extra indicator that draws supports and resistances, closing the trade when both supports and resistances are reached. (In a future update I will try to add this functionality to the indicator).