"The Patient Hunter" – Expert Advisor (EA) for MetaTrader 4

"Patience is the key to success in trading – wait for the right moment and strike with precision!"

📌 Overview

"The Patient Hunter" is a sophisticated MetaTrader 4 (MT4) Expert Advisor designed for automated trading using a Fibonacci-based grid strategy. It combines pending orders, risk management, and news filtering to optimize trade execution while minimizing risks.

This EA is ideal for traders who prefer a patient, disciplined approach, waiting for high-probability setups before entering the market.

🔧 Key Features

✅ Multiple Trading Modes (Pending Limit/Stop with Follow/Reverse logic)

✅ Smart Money Management (Fixed Lots, Risk-Based, or Compounding)

✅ Advanced News Filter (Avoids high-impact economic events)

✅ Virtual Trailing Stop & Take Profit (Locks profits without modifying orders)

✅ Fibonacci-Based Entry & Exit Zones (Accurate support/resistance levels)

✅ RSI & Moving Average Filters (Avoids overbought/oversold conditions)

✅ Auto-Closing at Profit/Loss Targets (Secures gains & limits risk)

⚙️ How It Works

1️⃣ Trading Logic

Uses Fibonacci retracement levels to identify key entry zones.

Places pending orders (BuyLimit, SellLimit, BuyStop, SellStop) based on trend direction.

Adjusts order distances dynamically using PipStep & exponent-based lot sizing.

Monitors RSI & Moving Averages to avoid false signals.

2️⃣ Risk Management

Auto Lot Sizing (Fixed or Risk-Based % of balance)

Take Profit & Stop Loss (Adjustable, with virtual options)

Trailing Stop (Secures profits as the trade moves favorably)

News Filter (Avoids trading during high-impact economic events)

3️⃣ Trade Exit Conditions

Take Profit All (Closes all trades at a collective profit level)

Stop Loss All (Closes all trades if losses exceed a threshold)

Virtual Trailing (Locks profits without broker restrictions)

🛠️ Setup & Configuration

🔹 Input Parameters

Trading Settings

Trading Mode – Choose between:

PendingLimitFollow (Trend-following limit orders)

PendingLimitReverse (Counter-trend limit orders)

PendingStopFollow (Trend-following stop orders)

PendingStopReverse (Counter-trend stop orders)

Money Management – Fixed Lots or Risk-Based (% per trade)

Take Profit / Stop Loss – Set in pips or use virtual options.

Trailing Stop – Activates after a certain profit level.

Technical Filters

RSI Period – Default 14 (Avoids overbought/oversold trades).

Moving Average (MA) Period – Default 60 (Trend confirmation).

Candlestick High/Low Filter – Avoids volatile spikes.

News Filter

Disable Before News – Stops trading X minutes before high-impact news.

Enable After News – Resumes trading X minutes after news.

Impact Level – Low/Medium/High (Filters economic events).

📊 Performance Tips

✔ Best Timeframe: Works well on H1 & H4 charts.

✔ Recommended Pairs: Major currency pairs (EURUSD, GBPUSD, USDJPY).

✔ Risk Management: Start with 0.5-1% risk per trade.

✔ News Sensitivity: Enable news filter during high-volatility sessions.

📜 Developer & Source

Developer: R.KH 1001

Official Website: https://www.robomql.com

🚀 Final Words

"The Patient Hunter" is a powerful, disciplined EA that thrives in trending markets while avoiding unnecessary risks. By combining Fibonacci levels, smart money management, and news filtering, it ensures high-probability trades with controlled risk.

Happy Hunting, and may the markets be in your favor! 🎯