Shadow Hunter ATR Breakout

Shadow Hunter ATR Breakout

Shadow Hunter is a professional Expert Advisor designed to capture breakout movements by analyzing price action and market volatility . The algorithm identifies specific "uncertainty" candles—characterized by long shadows relative to the body—to strategically place pending orders above market highs and below market lows .

• Shadow Ratio Logic: The EA meticulously analyzes the ratio between total candle shadows and the candle body . When shadows exceed the user-defined threshold ( InpShadowRatio), the system identifies a potential price explosion zone .

• ATR Volatility Filter: To minimize false signals during sideways or low-volatility markets, the EA integrates a filter based on the Average True Range (ATR) . A signal is only validated if the candle's range is proportional to recent volatility, adjusted by a customizable multiplier ( InpATRMultiplier) .

• Straddle Strategy: Upon identifying a valid signal, the EA simultaneously places Buy Stop and Sell Stop orders with automatic time expiration, ensuring you are positioned to ride the breakout regardless of its direction .Advanced Risk Management: The software includes flexible volume settings, allowing for fixed lot sizes or automatic position sizing based on a percentage of the account equity .

Shadow Hunter features a comprehensive on-chart information panel for real-time monitoring :

• Profit Status: Clear visualization of the current net profit .

• Real-Time Drawdown: Constant monitoring of the current equity drawdown percentage for responsible capital management .

• Volatility Analysis: Immediate display of current ATR volatility measured in points .

Input Parameters

• Money Management: Toggle between fixed lot sizes or balance-based percentage risk .

• Protection: Fully adjustable Stop Loss, Trailing Stop, and Trailing Step to secure profits during active trends .

• Strategy Logic: Fine-tune the shadow-to-body ratio and the entry buffer distance from highs and lows .

• ATR Filter: Enable and configure the dynamic volatility filter settings .

Usage Recommendations

• Recommended Asset: XAUUSD (Gold) .

• Timeframe: Optimized for the M15 chart, though it is adaptable for H4 .