Details of settings for the Black Night EA for advanced users.

Black Night works with as basic strategy that is filtered.

The filter settings are explained first, then at the end of this article the strategy is explained.

If you don't like experiments ignore the following.

 

One of the Live trading accounts that show Black Night EA trading works without filters.

Users can configurate several levels between the the use of all filters or none.

There are 3 kinds of filters. First a look at these two filter types:

Type 1 suppress the opening of a limit order and if already placed delete it.

Type 2 only suppress the opening of a limit order.

There‘s dozens of filters in the code, some work only for few pairs, others for most of the pairs.

So de/activating a filter type in one currency pair may have much effect, in other few.

 

Filters type1 + type2 can be de/activated  separately for buys and sells

If set  FilterLevelB=1  filters of type1 are active for buys

If set  FilterLevelB=2  filters of type2 are active  

If set  FilterLevelB=3  filters of  type1 and type2 are active

 

The same applies for sells by FilterLevelS.

No filter is active if set 0 or >3

 

As Black Night is set up on a chart  for each currency pair there‘s already a lot of individual configuration possible with these 2 settings.

   

Filters type 3 delete limit orders of correlating pairs if a limit order is activated and a buy or sell opened.

CorrFilterB and CorrFilterS allow to configurate this filter separately for buys and sells.

Both have the setting: audx eurx gbpx xchf xcad

That means if e.g. the EA is attached to AUDCHF it deletes the limit order if one of the other optimized AUDxxx pairs activates a limit order.

A buy deletes a buy limit, a sell deletes a correlating sell, if set so.

If a user thinks AUDCHF sells work very well, I don‘t wont it to be deleted for another pair, he removes audx in the setting CorrFilterS.

 

How positive or not the effect of Filters type 3 are cannot be tested in mt4 but in mt5.

The mt5 version of Black Night should be ready before New Year.

The Black Night Strategy

 

To get the best out of a trading system, the user should understand the strategy.

Black Night uses like many night scalpers the Bollinger Bands indicator.

Setting ShowLines=true the EA shows after a backtest the indicator and more in the chart.

 

3 SeaGreen lines show the Bollinger Bands. At the red arrow a sell was triggered,

below the blue arrows show how the EA followed the indicator line with a buy limit order.

The basic strategy is simple: Black Night sets from a certain hour on limit orders at the external Bollinger Bands.

If a order is triggered the line in the middle triggers the take profit, like above where the sell was closed when the Ask price reached the line.

 

If both settings FilterLevel are set=0 Black Night trades the pure strategy. Filters that avoid loss trades are deactivated.

A backtest shows, that Black Night even is profitable without the filters - in the most currency pairs.

 

Night scalpers use the quiet night hours, when trends are rare and prices move just sidewards.

In 2021 night scalpers users were lucky, markets were mostly quiet at night.

But there‘s no guarantee that it stays like that. Right when Black Night started trading on the demo account,

in the last week of Nov. 2021, there was some movement in the market and many night scalpers had huge losses.

There it  showed how important the filters are.