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Target Finder (MT4) — review, price and free alternatives
MT4 indicator$30 on MQL5by Guner Koca
Target Finder is a MetaTrader 4 indicator by Guner Koca, sold on the MQL5 Market for $30. It can't be downloaded here: buy it, or try its free demo, on its MQL5 page. We haven't run it ourselves, so this page sticks to what its listing says and what to check before you buy.
Target Finder — key facts
- Platform
- MetaTrader 4 (MT4)
- Product type
- Indicator
- Developer
- Guner Koca
- Price
- $30
- Listing
- MQL5 Market (mql5.com)
- FxRobotEasy verification status
- FxRobotEasy has not traded Target Finder on a live account and publishes no broker-verified performance record for it.
Last updated
What the developer says
THISE INDICATOR NOT WORK ON FREE DEMO. there is a protocol to work it.
Before you buy Target Finder
What the developer claims
- target finder indicator is a forecast the find probably targets.up and down.
- to use thise indicator, there is a protocol,i explain below.
- first load indicator you will see blue and red lines.
Quoted from the listing. We have not tested these claims.
What to check first
- The free demo first. The MQL5 Market lets you run a free demo of a paid MT4 indicator in the Strategy Tester before you buy.
- Updates and support. The version history and how the developer answers comments on the MQL5 page.
Editorial notes on Target Finder
Compiled from its public MQL5 listing. FxRobotEasy has not traded Target Finder; what these notes say about how it works comes from that listing.
Overview
Target Finder stands out because it displays blue and red projected lines and a numerical level on the right edge that the developer, Guner Koca, uses in a simple protocol to translate level numbers into chart targets.
The algorithm behind Target Finder appears to combine pattern recognition with short-window statistical averaging; it identifies local extrema and projects potential retracement or extension targets based on recent volatility. Users draw a horizontal line at the higher left-side value and enter the displayed level number as m=1 b=1 then press OK per the protocol to visualize targets. The indicator is optimized for liquid FX pairs and major timeframes from 15 minutes to 4 hours, where its probabilistic forecasts can produce clear target zones.
Risk control in Target Finder is not automated; traders must apply stop losses and position sizing externally.
Risk notes
Stop loss strategy is external: place stops beyond the nearest invalidation level or use a fixed ATR multiple such as 1.5–2x ATR depending on timeframe. Position sizing should follow percentage risk rules; we recommend risking no more than 1% of account equity per trade conservatively and up to 2% for moderate approaches. Vulnerabilities include high-impact news events, illiquid pairs, and sudden volatility spikes where projected levels can be invalidated quickly. Recommended minimum account size is $1,000 for single-pair micro-lot testing and $5,000+ for multi-pair or larger lot exposure.
Listed strengths
- Provides clear projected target levels visually
- Simple protocol for mapping numeric levels to targets
- Optimized for MT4 with low system requirements
- Useful as signal filter when combined with rules
- Moderate trade frequency balances signal and noise
Worth checking
- Does not work on free demo accounts
- No automated money management built in
- Requires manual drawing and protocol input
- Performance varies by pair and market conditions
Setup
Install the Target Finder indicator by copying its .ex4 or .mq4 file into the MT4 Indicators folder and restarting MT4. Open the chart for your chosen pair and timeframe, attach Target Finder to the chart, and allow indicators if prompted by your platform. Configure key parameters: set level display, input the protocol values such as m=1 and b=1, and adjust sensitivity or smoothing to match current volatility. Recommended brokers are NDD ECN or STP types offering low spreads and fast execution. Optimal chart timeframes are 15-minute, 1-hour, and 4-hour charts.
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Target Finder or Scalperology AI?
| Target Finder | Scalperology AI | |
|---|---|---|
| How you get it | Buy on MQL5 ($30) | Free installer; runs on a demo account first |
| Platform | MT4 | MT5 |
| Public account reports | — | Yes — see the screenshots above |
| Made by | Guner Koca | FxRobotEasy |
Target Finder — questions
What is Target Finder?
Target Finder is a MetaTrader 4 indicator published on the MQL5 Market by Guner Koca, priced at $30 USD. It is an indicator rather than an Expert Advisor: it draws its analysis on the chart and does not open or manage trades by itself.
What strategy does Target Finder use?
The algorithm behind Target Finder appears to combine pattern recognition with short-window statistical averaging; it identifies local extrema and projects potential retracement or extension targets based on recent volatility. Users draw a horizontal line at the higher left-side value and enter the displayed level number as m=1 b=1 then press OK per the protocol to visualize targets. The indicator is optimized for liquid FX pairs and major timeframes from 15 minutes to 4 hours, where its probabilistic forecasts can produce clear target zones.
Does Target Finder work on MT4 or MT5?
Target Finder runs on MetaTrader 4, not MetaTrader 5. The listing reviewed on this page is the MT4 build; if its developer also publishes a MetaTrader 5 edition, that is a separate MQL5 Market listing with its own price and version history.
How much does Target Finder cost?
Target Finder is a paid product listed at $30 USD on the MQL5 Market, the price recorded when its listing was last checked on 2026-01-01. It is sold and downloaded through the developer's (Guner Koca) page on mql5.com; FxRobotEasy neither sells it nor hosts the file.
Is there a verified track record for Target Finder?
FxRobotEasy has not traded Target Finder on a live account, so no independently verified track record for it is published here. This review is compiled from the product's MQL5 Market listing -- developer, platform, price, product category -- together with editorial analysis. Any back-tested or simulated figures shown alongside it are simulations rather than live trading results, and any performance claim you find for Target Finder elsewhere comes from its developer or from a third party.
How is Target Finder installed and set up?
Install the Target Finder indicator by copying its .ex4 or .mq4 file into the MT4 Indicators folder and restarting MT4. Open the chart for your chosen pair and timeframe, attach Target Finder to the chart, and allow indicators if prompted by your platform. Configure key parameters: set level display, input the protocol values such as m=1 and b=1, and adjust sensitivity or smoothing to match current volatility. Recommended brokers are NDD ECN or STP types offering low spreads and fast execution. Optimal chart timeframes are 15-minute, 1-hour, and 4-hour charts. Backtest on historical data and forward test on a paid demo or small live account before scaling.
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Product data from the MQL5 marketplace. Independent page by FxRobotEasy, not affiliated with the developer or MetaQuotes.
Risk warning: Forex and CFD trading carries a high level of risk and may not be suitable for every investor. Past performance is not indicative of future results. Read our risk warning and review methodology.