This a deep description of the Midnight Rollover settings. Be aware, this strategy has different results depend on the combination and the broker condition. There are times where one account with one broker takes profit on pair, and the account. This EA is super flexible. You can send me a message for recommended setting for each pair. But, you can choose what works better for you.
Setting
Trade Setting
- Magic Number: This is internal for MetaTrader. USE DIFFERENT NUMBER for each PAIR TO do not confuse the terminal.
- Take Profit: Take profit is in points. Example 5 pips is 50 points. If you desire 5 pips, you should put 50.
- Stop Loss: Stop Loss is in points. Example 5 pips is 50 points. If you desire 5 pips, you should put 50.
- Comment: The name of the EA is displayed. Please delete if you use a prop firm.
Zone Setting
- Total orders per session: With this parameter, you can choose how many trades will be executed per session.
- Time Begin Zone Scan: It is the time that the EA will start to look for entry and exits points.
- Time to end zone scan: It is the time that the EA will stop to look for entry and exits points.
- Include open order per session: This parameter carries on the open position through the rollover. It MUST be true.
Money Management
- Money Management: There are 5 predefine dynamic risks:
-Extreme Risk (20% risk per trade)
-Super High Risk (10% risk per trade)
-High Risk (5% risk per trade)
-Mid Risk (2.5% risk per trade)
-Low Risk (1% risk per trade)
*** You can choose fixed lo sizes, max lot size, and custom dynamic risk***
Support and Resistance
This feature allows drawing the entry point and exit point. You can choose the colors that fit better your style.
Avoid Trading Setting
This algorithm uses pending orders. This parameter allows you to delete orders at a specific time. It is true by default.
- Hours to Delete pending orders: By default, is 23.
- Minute to delete pending order: By default, is 30.
Close order settings
This is a parameter that closes all the open orders at a certain time.
- Hour to close open orders: By default, is 4.
- Minute to close open orders: By default, is 0.
Stop Trading on Friday
This parameter does not allow the EA trade on Friday. Use based on your own judgment, but the gaps after the weekend are something very risky.
Hours to Remove Stop Loss
This option permits the removal of the stop loss before Rollover and putting it back. It has the option to choose when to start to remove it and when to put it back. Also, It has the option to active swap option. With this option, you can personalize the removal of the stop loss by days.
Max Losing Order
This feature will to stop trading after x losses. This parameter is useful if you choose different tries with a small stop loss.
