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(Demo works only on AUDCAD pair)

Free ArrowHunterEa DEMO

If you need any help I will customize EA and integrate any indicator for you for just €40. Just contact me HERE so we can discuss the details.

User Manual of Arrow Hunter EA (F.A.Q)

    1. Installation and activation
    2. Overview of EA parameters
    3. Common issues / F.A.Q
    4. EA Customization
    5. Last words

    1.Installation and activation

    1a) Make sure the EA is installed in your local MQL/Experts directories. Depending on your system configuration this will be one of the following directories:
    Instalation step 2a

    Make sure the Auto trading and DLL imports are enabled:

    Instalation step 2b

    Activate your EA:

    DEMO version: If you are running demo version make sure the LicenseKey EA parameter is set to ‘DEMO’ and you have entered valid email address in EmailAddr field. After that go to your mailbox and activate this product by clicking on the provided link in the welcome email.

    FULL version: If you have purchased this product you should have received a welcome email together with a valid LicenseKey code. Enter this code into EA LicenseKey parameter and then just run the EA.

    Note: If you did not get any email, check your spam folder as well.

    2.Overview of EA parameters

    Bellow an overview of the EA parameters and functions:

    2a) ReverseOnOppositeSignal:
    This parameter enables and disables the automatic trade reversal mode. For example if EA is trading ‘long’ and an external indicator displays new ‘short’ entry signal on chart (e.g.: a down-arrow), then the current BUY order is closed and a new SELL is opened immediately.
    ReverseOnOppositeSignal is set to ‘true’ the TakeProfit and Stoploss EA settings need to be configured in such way that they do not interfere with the reversal signals (e.g.: by setting SL and TP to very high values: 200pips)

    2b) AnalyzeEveryTick:
    This parameter enables and disables the Tick logic execution. When set to ‘true’ all logic is analyzed at each market tick, when set to ‘false’ the logic is analyzed only on new candle. Note that setting this flag to ‘true’ can dramatically slow down backtesting speed. However some indicators provide new signals within last candle and so require fast signal execution.

    2c) EmaEntryFilterPeriod:
    This parameter enables an additional EMA based entry signal filtering mechanism. The following figure explains its operation:
    EMA filtering example

    2d) SignalEntryMode:
    This parameter has two options: ‘FromChart‘ and ‘FromIndicatorBuffer‘. Those options tell the ArrowHunterEA where it must look for its entry signals.

    FromChart mode: In this mode the EA will look for entry signals by analyzing the objects that are displayed on chart by any external indicator. IMPORTANT NOTE: in order to make it work the displayed objects like : arrows, dots, thumbs up/down etc..must be real chart objects, and must be ‘clickable’. You can easily check if the object on chart is clickable by clicking on it and displaying its object parameters (right mouse click). See parameters in point 5.

    FromIndicatorBuffer mode: This is an advanced of operation. In this mode the EA will access and use the internal buffers of an external indicator with a given name. The indicator buffers and their values can be displayed by pressing ‘CTRL+D’ on chart where a selected indicator is attached. This operation mode is required in case when the attached indicator does not display ‘clickable’ chart objects, but only shows the internal buffer data. Read more at point 3h) and the following.

    2e) CheckPreviousCandles: (When SignalEntryMode=FromChart)
    This parameter indicates how many previous candles need to be checked for potential entry signals. In most cases we only need to check up to 6 previous bars and look if there are any signals on chart. Note that this parameter becomes handy in case when you need to deal with delaying indicator, that displays delayed signals.

    2f) LongArrowCommonString and ShorArrowCommonString: (When SignalEntryMode=FromChart)
    This setting tells the ArrowHunterEa, what object names it should analyze while looking for valid entry signals. Note that each ‘clickable’ object has its own name and in most cases the signals share a common string like: “BUY/SELL” or “long/short”. This setting will help EA to filter out only objects that need to be used as entry signals. See figure below, where an object contains a “BUY” string as common signal name:

    Convert Indicator To EA

    In this case we would set LongArrowCommonString=BUY and ShorArrowCommonString=SELL.

    2g) LongArrowCode and ShorArrowCode: (When SignalEntryMode=FromChart)
    This setting is very similar to the ‘Long/ShortArrowCommonString‘ parameter, however in this case the EA will look for chart objects with a specific code. Example:

    Indicator To EA converter

    In this case we would set LongArrowCode =233 and ShorArrowCode=234.

    2h) IndicatorName: (When SignalEntryMode=FromIndicatorBuffer)
    This parameter defines the name of selected external indicator, like: “Scapler V2.0″ or “traderdream” etc..This name will be used to call the internal indicator buffers from the EA code. This is an advanced option ans should be used only by experienced users who know how to deal with indicator buffers.

    2i) NumberOfBuffer1/2: (When SignalEntryMode=FromIndicatorBuffer)
    Those parameters define the internal buffer numbers of the selected indicator. To display the indicator buffers you need to attach the selected indicator on chart and hit ‘CTRL+D’. Below an example of internal indicator buffers:Indicator buffers example

    The figure above shows a typical setup of the internal indicator buffers. In this case we would like to work with Buffer1 (NumberOfBuffer1=0) indicating BUY condition and Buffer2 (NumberOfBuffer2=1) indicating a SELL condition. See next point.

    2j) Buffer1/2ValueGreaterThan,Buffer1/2ValueSmallerThan: (When SignalEntryMode=FromIndicatorBuffer)
    After that internal buffer access is defined (see previous point), this set of 4 parameters can be used to define desired entry condition. In this example we can see that the indicator changes the value of Buffer1 from 0 to actual bid price during a ‘long’ entry condition, and Buffer2 value is changed from 0 to actual ask price during a ‘short’ entry period. We need to tell the ArrowHunterEA when to execute BUY and SELL trades. For this special example we will set the following:

    Open BUY order when:
    Buffer1ValueGreaterThan=0 AND Buffer1ValueSmallerThan=10000

    Open SELL order when:
    Buffer1ValueGreaterThan=0 AND Buffer1ValueSmallerThan=10000

    This settings will tell EA when to open BUY and SELL without looking on chart objects.

    2k) BarShift (When SignalEntryMode=FromIndicatorBuffer)
    This setting tell the EA how many of previous candles need to be analyzed while looking for a valid entry condition. (Similar to ‘CheckPreviousCandles’ setting when SignalEntryMode=FromChart).

    2l) EA locking settings:
    Some times it is desired to lock the EA during selected marked hours or close all orders at specified date. This is possible using these settings:

    AllowedTradingHours: Defines the allowed trading hours separated by comma: 12,13,14,15,16,20,22,
    AllowLongTrading: Disables and enables trades in ‘long’ direction
    AllowShortTrading: Disables and enables trades in ‘short’ direction
    MaxSpreadPoints: Defines the maximum allowed spread in points when opening new trades
    TimeToCloseOrders: Defines date and time when all open trades need to be closed

    2m) Common EA settings:
    Those are the common EA settings, and are in most cases self-explanatory. Below the list of common EA settings:

    MagicNr: Defines your selected magic number 
    LotSize: Defines selected Lot size for all orders            
    MmRiskPerc: When different than 0, the EA will calculate the LotSize automatically using the percentage of accounts balance and defined StopLoss. E.g.: set it to 2 to risk only 2% of your account balance with selected StopLoss level.         
    TakeProfitPips: Take profit level in pips
    StopLossPips:  Stop loss level in pips       
    TrailingStopLossPips: Trailing stop loss step in pips, when set to 0 trailing is disabled
    BreakEvenPips: break even level in pips from entry price, 
    when set to 0 break even is disabled       
    SlippagePoints: slippage level in points

    3.Common issues / F.A.Q

    3a) ‘I can not download my DEMO EA, and my browser displays strange code':
    This ‘page of code’ is the actual ArrowHunterEA in ex4 format. This means your browser does not recognize this binary ex4 format, in that case you need to safe this page of code as ‘CoensioArrowHunterEaV03.ex4′. Please do not change the name of this file it will not work under a different name.

    3b) ‘I enter my email address in EmailAddr filed but do not received any email':
    Please make sure you enter a valid email address! I see a lot of people entering fake email addresses with hope that EA will activate itself. Check also your spam folder for any messages from: coensio.com.

    3c) ‘I got an activation link in email, but the link does not work saying ‘Undefined offset’‘:
    This is probably ‘link formatting issue’
    “Undefined offset: 1 in /public/sites/www.coensio.com/ea/FreebieDB3ArrowHunter/FreebieDB3ArrowHunter.php on line 71.”
    In order to fix this please copy the whole activation link from email and paste it to any text editor, remove all “white spaces and ‘%20′ codes”, examples:



    Solution1: As you can see this is not a valid link, copy it and paste manually to your browser and remove ‘%20′ characters from link:

    3d) ‘How can I see that my EA is initialized properly?’‘:
    You can see it by displaying the ‘Experts’ tab on your MT4 platform, if everything is ok you should see the following:

    4.EA Customization

    In case this EA somehow will not be 100% compatible with your indicator of you would require additional features just let me know. Here on my blog I provide a high quality programming/coding service and I can implement your craziest ideas for very reasonable hourly rate of €20/h. More information at:


    5.Last words

    Please note that this project is not an easy EA to work with and it requires some patient and practice. If you will find any bugs or errors please let me know and I will fix it for you. And finally:

    If you will find a profitable setting + indicator please
    share it here with our great community!

    Chris & Coensio Team

    P.S.: and do not forget to like this page ;)

    60 Responses to Indicator to EA converter

    • HI

      Its seems that your indicator is not available to download

      best regard

    • Good day, Thank you for your offer. On download I receive a page of code ?
      Please advise how to handle this.
      Thanks, William

      • This ‘page of code’ is the actual ArrowHunterEA in ex4 format. This means your browser does not recognize this binary ex4 format, in that case you need to safe this page of code as ‘CoensioArrowHunterEaV03.ex4′. Please do not change the name of this file it will not work under a different name.

    • Is it possible to add more than one indicator for better trade signals?

    • He Coensio,
      I recently purchased the Arrow Hunter EA. It appears to pull the default settings of an indicator if “From Indicator Buffer” is selected. Is this true? If so, how can I get the EA to pull only the settings that I entered into the indicator? I do not have the mq4 file for the indicator but would like to change its default settings so Arrow Hunter can make the right calls/puts.

      • Hi,

        Please contact me directly on my email. Customization of ArrowhunterEA is always possible.


    • So that is 20Euro for the ea than for customization is 40Euro = 60? Or is it 40euro for ea+customisation?

    • Excellent work Chris.
      Been through several of your blogs. Also good to see that we may have a mutual friend, Rimantas : )

      Trying out some of your EAs and will certainly be getting them including this Indicator to EA converter, after testing.

      Best regards

      • Thanks Kaz ;)

        • Hi Chris,

          Is the paid version only for a single license valid for 1 Live account? I was hoping it would be at least a license for 1 computer where it could be used with a VPS running a few MT4s with different indicator strategies.


    • Hi Chris, can this EA catch arrows drawn on the indicator window instead of the main chart? Cause I’m trying but I can’t get it to work…

    • Can you convert custom indicators to ea?

    • Great EA!

      Just there are a few signals that use text/font as arrows so there’s no arrow code. May we know how to use it? could you plz customize the EA for me? thanks a lot!!

    • hi,
      Again, great EA.
      i have tried using EMA filter but the line is not shown after i input 50, or 62 into the EmaEntryFilterPeriod. Anything i missed?

      • The EA uses only the internal EMA buffer, you need to add the EMA manually with the same settings in order to see the EMA line.

    • Wow am amazed by this EA. Cant wait to to take it for a spin.

    • Dear Coensio, i found your ea converter excellent!! I would like to ask you about correlation indicator! How this can be expert advisor?

    • The correlation indicator is only for one pair and is consisted of ma 200, inverse, etc.

    • Respected Chris,
      I have posted your above links in 4 places as instructed, Now waiting for full KEY, Please send me,

    • Mr. Chris, It is good to have such indicator, would be great if you could prepare a tutorial/user guide that how to use this indicator, Yes I know you have mentioned enough settings above but how to make this EA in action? Youtube video or other step by step guide will help the client to use it effectively. Many Thanks in advance

      • If I only had time for this ;) Maybe one of the users could make a nice video? I will give 10 free license keys for this job ;)


    • It will not load on AUDCAD any timeframe.

      error : Demo version only works at AUDCAD pair

    • Dear Chris,
      Does this arrow hunter EA handle multiple indicators at once? I mean I have 3 different indicators on a chart with the different condition. I wish when all 3 conditions are met, this arrow hunter should open position based on those conditions. is it possible? if yes how it could be, Many Thanks

      • Hi,

        I can always customize it for you. Contact me on my email so I can send you an offer for this.


    • Hi Chris,

      I bought just now, installed your EA converter from this email, but it can’t open as MT4 keeps asking me to activate the email link. I clicked on every email link available here but still nothing is activated. What shoul I do?

    • Hi Chris

      I have installed the ArrowHunter EA demo but it’s not activating.Firstly I am not receiving confirmation link email even under spam,secondly the EA just disappears 5 seconds after attaching it to the chart,please assist.i’ve sent you loads of emails its almost a week now but there’s no response,who else can we talk to since we can’t get hold of you?

    • hi,

      im using https://www.pointzero-trading.com/Products/view/PZShoulderHeadShoulder indicator that has arrow, im using micro account, it has EURUSDmicro as name. your EA unable to detect
      currency when i placed demo on AUDCADmicro. I do not have AUDCAD big account to test your EA.

      2nd question does your free EA still available if i paste your link to 4 location on facebook?

    • Is the How to get it for free option still available?

    • Will it work with a dashboard scanner? I am using pz divergence scanner that alerts on multiple pairs. The scanner is loaded in a single chart. Is it possible to get your ea to trade the multi pair signals from Ron the scanner?

      • No it will not work like that, you need to have one indicator on one chart.


    • Hi, This EA is very nice, I am considering purchasing, but I have a few questions below.

      -Is the license of this program linked to the first MT4 account number?
      (If so, is it possible to change account later?)

      -Are there plans for upgrading in the future?
      (Now EA comment is a “price”, but I want to add it arbitrarily at the beginning of the sentence.)

      • Hi,

        Each purchased license key = activation on 1 MT4 account. Unlimited switching from accounts is possible, just send me an email if your account number changes.
        Yes I will upgrade this tool in the near future, customization is also possible, just contact me on email.

    • Hi,

      do you plan a version to MT5?

      • Hi,

        Yes I plan to code one but at this moment I can only provide custom made MT5 EA’s.


    • Respected Chris,
      I have already a licence key that work fine on my real account, But I want to try your this valuable indicator on my Demo account so I can use it on my really account after a success. on demo account it does no work, nor even it work on AUDCAD pair, Please help me. Many thanks for your tremendous work

    • Does it work on offline charts? I want to use it on renko charts, which can only be displayed on an offline chart. I read on some forums of people complaining that their EAs don’t work on offline charts. That’s why I’m asking.

      • Hi,

        No you need to have a live-version of renko charts, there are plugins for that. Off-line charts will not send any ticks to the EA.


    • I have two accounts with my broker. After buying the EA, I decided to test it out. When I ran the EA, I realized it was the wrong account I logged into on MT4. When I logged into the right account and tried the EA, I got an error message. Is the licence key tied to one MT4 account? If so, can I get another license key please? or is there another workaround?

      • Hi,

        “Is the licence key tied to one MT4 account?”
        Yes. If you want to change account number please contact me on my email.


    • Update: The offline chart isn’t the problem. I ran it on an online chart and still got the same error. I found the log filein mt4 folder. This is the log of the error in the log file “0 01:02:45.845 CoensioArrowHunterEaV03 EURUSD,M15: Alert: @Coensio #Buy Error: 130 EURUSD Slippage: 200″

    • Hi,

      Error 130 = invalid stop loss level. You are trying to set SL at the level which can not be accepted by the broker.



    • I chaged the stop loss, but I still got another error related to the slippage, like the Error 130 before. The log for this new error reads “13:06:59.113 CoensioArrowHunterEaV03 GBPUSD,M1: Alert: @Coensio #Sell Error: 4109 GBPUSD Slippage: 200″. I feel the problem is with the slippage parameter. Please, is it possible to have the slippage parameter remove and then send the EA to my email, or is there any other solution?

    • Is it so hard to read few lines of text from the link I’ve sent you?

      Error: 4109 = Trade is not allowed !

      This is broker blocking your trades or autotrading button disabled.

      NOTE: This is not the place for support related discussions!


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