AW Midnight Scalper EA - Professional night scalper with a double filtering system, trend confirmation of signals, and supports the option of averaging positions.
AW Midnight Scalper is an automated overnight scalper designed for trading during the quietest market hours of the Asian session. The advisor combines volatility filtering, overbought and oversold zone detection, and additional trend direction filtering. Analysis utilizes a built-in volatility indicator (based on two periods), a primary signal oscillator, and a trend filter based on the AW Trend Predictor indicator. This eliminates random movements, ensuring the advisor will only open trades when volatility, entry zones, and trend direction are aligned.
Operating principle
The advisor analyzes the market in three stages:
Step 1: The Volatility Indicator determines current market activity based on two periods (primary and secondary). Trading is permitted only when current volatility is within the channel between the lower and upper boundaries. An excessively weak or, conversely, excessively sharp market movement prevents entry—this protects against trading in unfavorable conditions. This status is displayed on the dashboard as "In Channel."
Step 2: The Main Signal Indicator confirms the signal by analyzing overbought and oversold levels through dynamic support and resistance levels. The indicator compares the magnitude of the market's rise and fall. Leaving the oversold zone generates a buy signal, while leaving the overbought zone generates a sell signal.
Step 3 — The trend filter, based on AW Trend Predictor, additionally checks the trend direction before opening the first order and allows entries only in the direction of the current trend. The filter can operate on a timeframe higher than the current one, increasing accuracy and providing flexibility in configuration.
Recommendations for setting up indicators:
- Volatility Indicator
The indicator is based on two ATR periods: the main period (Period of the main Volatility indicator) and the additional period (Period of the additional Volatility indicator). The period affects the indicator's sensitivity to price movements:
- Calm pairs (EURUSD, GBPUSD during the Asian session) - period 15-20; highly volatile pairs - period 25-35.
- I recommend using an additional period that is slightly shorter than the main one - this gives a double assessment of volatility.
The Lower border (default 10) and Upper border (default 110) are the minimum and maximum volatility levels.
Volatility is measured by the ATR indicator in points—that is, "how many points does the price move on average?" Therefore, the advisor only works in a normal market, neither too quiet nor too active:
- Volatility is below the Lower border, the market is too calm, trading is not allowed, if above the Upper border, there is too active movement (news, surge), trading is not allowed.
- Volatility between Lower and Upper border, market is normal, trading is allowed (on the panel - In channel status).
By decreasing the Lower Border, trading will be more active during a calmer phase, with more trades. By increasing it, fewer trades will be made.
Increasing the Upper Border will result in additional trading in a more active market, meaning more trades. Decreasing it will cut off strong movements, resulting in fewer trades.
The narrower the corridor (Lower is higher, Upper is lower), the stricter the filtering and the fewer trades; when widened, there will be more trades, but the accuracy of entries decreases.
Important: The limits are set in points, so they need to be recalculated for each instrument. The ATR in points varies significantly across different instruments: for EURUSD, movement is measured in tens of points, while for gold and indices, it's measured in hundreds and thousands. If you leave the base values of 10–110 when trading gold, the ATR will almost always be above 110, the "In Channel" status won't appear, and the EA won't open trades. Therefore, for gold and indices, both limits are raised several times.
Volatility Boundary Guidelines (M5 timeframe, overnight/Asian session). Format: Lower Border - Upper Border.
- EURUSD (price with 5 digits): 10 - 110.
- GBPUSD (5 digits): 15 - 150.
- USDJPY (3 digits): 10 - 130.
- Gold, 2-digit quote (e.g. 2350.55): 40 - 400.
- Gold, 3-digit quote (e.g. 2350.505): 400 - 4000.
- US30 / Dow (example with 2 digits): 2000 - 15000.
- NAS100 (example with 1 character): 200 - 1500.
Practical translation: take the ATR value in the price and move the decimal point to the right by as many places as there are after the decimal point in the instrument's quote.
The values for gold and indices are only a guide: they depend on the number of digits in your broker's quote and the working timeframe (on M15/M30, ATR is 2–3 times higher than on M5).
The boundaries are set in points, so for gold and indices they are always recalculated for a specific instrument.
- Main Signal Indicator
Period of the main signal indicator - a period from 0 to 100. The shorter the period, the more sensitive the oscillator and the more frequent the signals:
Examples of value ranges:
- Overnight scalping, calm market: 3-10
- Average activity: 15
- Conservative trade: from 20
Main Signal K1 / Main Signal K2 - how deep into the overbought/oversold zone the price should go and how sharp the reversal should be. A higher K value means a stricter selection and fewer trades (only strong reversals); a lower K value means more signals. The working range is 3–8.
The lower boundary of the Buy zone and the upper boundary of the Sell zone are the two levels of the oscillator's entry zones. Keep the upper level around 70-90, and the lower level around 10-30 (without swapping them). The further the levels are from the center of the scale (85 and 15), the less frequent and reliable the signals; the closer to the center (72 and 28), the more frequent the entries.
- Trend Filter (AW Trend Predictor)
Trend indicator period – the period of the trend filter. A longer period means a smoother and more reliable trend, but with a lag; a shorter period means a faster response, but more frequent changes in direction.
Timeframe for trend filtering – the timeframe on which the trend is assessed. We recommend using the current timeframe or higher: a higher timeframe provides a more stable direction for the first order and eliminates entries against the main trend.
Technical requirements
• Platform: MetaTrader 5
• Timeframe: M5 – M30
• Instruments: any currency pairs, metals, indices (indicator settings are selected for a specific instrument)
• The recommended deposit size depends on the selected trading instrument, lot size, and money management settings. For a starting lot of 0.01, a deposit of 1,000 deposit units or more is recommended.
• Account type: hedging account, ECN / Raw Spread with low spread
• Operating mode: VPS recommended
Advisor input settings
MAIN SETTINGS
Size of the order - lot size.
Enable AutoLot size calculation — automatic lot calculation based on the deposit size.
Volume of deposit for one lot — the deposit volume for one lot when AutoLot is enabled.
Orders Magic number is a unique identifier of the advisor's orders.
Comments of the EA's orders - a comment left by the advisor when opening orders.
Allow to open OP_BUY / OP_SELL orders — allow opening orders in the corresponding direction.
Allow to open new orders after close — allow opening new orders after closing previous ones.
Virtual TakeProfit in points — virtual TakeProfit, not transmitted to the broker's server.
StopLoss in points (0 - not used) — a virtual StopLoss (based on the basket's breakeven price); managed by the Expert Advisor and not transmitted to the server. 0 — not used.
Protection Settings
Maximum slippage in points — the maximum allowable slippage when opening an order.
Maximum spread in points — the maximum allowed spread. If this value is exceeded, the Expert Advisor will not open any trades.
Maximum size of orders — the maximum size of one order.
Maximum number of orders — the maximum number of simultaneously open orders.
Enable One_order_per_bar filter — a filter that prevents opening more than one order on a single bar. Reduces risk during sharp price movements.
GRID SETTINGS
Use grids — enable averaging mode.
Multiplier for size of orders — the multiplier for the size of each subsequent order in the basket.
Step for grids — the distance between orders in points.
Notifications Settings
Send push notifications when closing orders — push notification when an order is closed.
Send mails when closing orders — email notification when an order is closed.
Send alerts when closing orders — alert notification when an order is closed.
Working Time Settings
Enable work with TimeOuts — limit the advisor's work by time.
Beginning of time for work — the beginning of working hours.
End of time for work — the end of working hours.
All times are based on your broker's time zone. It's recommended to check your broker's GMT offset before launching.
GRAPHICS SETTINGS
Color scheme of panels — color scheme of the information panel on the chart.
Show panel of advisor — display the advisor panel on the chart.
Font size in panels — panel font size
TREND FILTER SETTINGS
Use Trend filtering for first order — enable trend filtering for the first order.
Period for trend indicator — period of the AW Trend Predictor indicator.
Timeframe for trend filtering — the timeframe on which the trend filter operates. You can select a timeframe higher than the working one for more precise filtering.
VOLATILITY INDICATOR SETTINGS
Period of the main Volatility indicator — period of the main volatility oscillator.
Period of the additional Volatility indicator — period of the additional volatility oscillator.
Lower border — the lower boundary of the volatility channel.
Upper border — the upper boundary of the volatility channel.
MAIN SIGNAL INDICATOR SETTINGS
Period of the main signal indicator — period of the signal oscillator.
Main Signal K1 / K2 — signal sensitivity coefficients (zone width when exiting overbought/oversold conditions).
Lower boundary of the Buy zone (default 80) is one of two signal oscillator levels that define entry zones. The recommended range is 70–90.
Upper border of the Sell zone (default 20) is the second level of the signal oscillator. The recommended range is 10–30. The border parameters determine the width of the entry zones: wider zones mean less frequent and more reliable signals; closer to the center means more frequent signals, but less accurate ones.
Examples of presets by aggressiveness level.
Indicator settings (for adjusting the frequency and severity of entries). Volatility limits are specified for instruments with 5-digit quotes (EURUSD, GBPUSD); for gold and indices, they are recalculated for the specific instrument.
1. CONSERVATIVE - less frequent, but better quality (only strong reversals)
Period of the main signal indicator: 20
Main Signal K1: 7
Main Signal K2: 7
Lower border of the Buy zone: 88
Upper border of the Sell zone: 12
Trend indicator period: 6
Timeframe for trend filtering: one step higher than the working one (for example, H1)
Period of the main Volatility indicator: 25
Period of the additional Volatility indicator: 20
Lower limit: 20
Upper limit: 90
2. BALANCED - basic mode (recommended for starting)
Period of the main signal indicator: 12
Main Signal K1: 5
Main Signal K2: 5
Lower border of the Buy zone: 80
Upper border of the Sell zone: 20
Trend indicator period: 4
Timeframe for trend filtering: working timeframe or one step higher
Period of the main Volatility indicator: 20
Period of the additional Volatility indicator: 15
Lower border: 10
Upper limit: 110
3. AGGRESSIVE - more frequent entries, more trades (higher risk)
Period of the main signal indicator: 4
Main Signal K1: 3
Main Signal K2: 3
Lower border of the Buy zone: 74
Upper border of the Sell zone: 26
Trend indicator period: 3
Timeframe for trend filtering: working timeframe
Period of the main Volatility indicator: 15
Period of the additional Volatility indicator: 12
Lower border: 8
Upper limit: 140
Important: Any preset is a starting point and only an example. Before trading live, test it on a tester and demo platform for your instrument and broker. Volatility limits should be adjusted to the instrument's actual ATR.
