The Night Hawk starts trading when it is night in europe, at Wall Steet close. The Hawk catches trading oportunities that give good results already for decades, as shown in backtests. The robot is optimized for EURUSD and GBPUSD, ready to use without adjustments. No martingale, no grid, never more than one order is opened, always with Stop Loss.
The hour when the Night Hawk starts trading is very important for the strategy - so do not forget to set UTC (GMT) correctly according to the timezone of your broker!
To increase trading frequency we recommend using the robot in both pairs, EURUSD and GBPUSD, as we do on our live trading account: https://www.mql5.com/en/signals/114496
For trading of EURUSD look for the symbol_EURUSD setting!
The Night Hawk opens trades only from 21:00 - 01:45 MEZ (time in Frankfurt p. e.)
SetTakeProfit set on 'true' you can switch off the robot at 01:45 even when a trade is open, as the trade has TakeProfit and StopLoss.
But we recommend to leave SetTakeProfit to 'false', as the Hawk sets TakeProfit often a little higher than the original setting. How much depends on market conditions. We work on improvement of this feature in future versions of the Night Hawk.
Important: Your broker should have tight spreads at night! We trade with spreads of 1.6 pip in EURUSD and 2.4 pip in GBPUSD. Some good brokers have much smaller spreads, so you might even set the TakeProfit a little higher.
Important: The Night Hawk draws lines in the chart. Don't change them! Don't change position, name or colour of a line. The robot uses them for orientation. More about it in the comments section.
- Set_UTC: (GMT) timezone of the broker must be set according to time shown in Market Watch (more info about timezones is found in MS Windows date and time settings). To be sure you have the right setting do some backtests with different Set_UTC settings. Some brokers give a better result with a different setting.
- Auto_Moneymanage: automatic money management can be used or disabled.
- MiniLots: if set to true, automatic money management works in steps of 0.01 lot.
- MaximumRisk: how much % of account free margin is set to risk for each trade.
- Lots: lot size if automatic money management is disabled.
- StopLoss: distance of Stop Loss from order open price in points for GBPUSD
- TakeProfit: distance of Take Profit from order open price in points for GBPUSD
- SetTakeProfit: normaly the robot closes orders by a hidden TakeProfit. Set SetTakeProfit to 'true' the TakeProfit is set at the server of the broker, like the StopLoss.
- symbol_EURUSD: EURUSD For trading of EURUSD the robot takes the following SL and TP setting and adjusts some inner settings. But this works only correct if the broker's symbol for EURUSD is the same as the one written here. If the brokers symbol is p. e.: eurusd_fix write that into the field here.
- StopLossEUR: distance of Stop Loss from order open price in points for EURUSD
- TakeProfitEUR: distance of Take Profit from order open price in points for EURUSD
- MAGICMA: magic number on which the robot recognizes his positions
- OrderOpenAlarm: set to 'true' a popup window and a sound alert inform that an order was opened