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Night Watch

The Expert Advisor works during the night. It trades within a certain channel based on overbought and oversold levels of the market, precisely when the probability of rebounds from strong levels is the highest.

Unprofitable orders are recovered using position averaging. The number of orders and the position volume change ratio, as well as the distance between orders are defined in the settings.

The Ea protects the deposit using real and virtual stop loss levels, as well as In case the price exceeds the channel, all orders are immediately closed.

Monitoring - https://www.mql5.com/en/signals/author/robotstroi


Parameters

  • MaxSpread - maximum allowed spread for opening and closing orders;
  • MM - automatic lot calculation;
  • AllocatedAmount - if greater than 0, all calculations are based on the specified amount, otherwise based on the deposit. For example, the deposit size is 1000 USD, and you want to use only 100 USD for trading. Accordingly, this parameter should be set to 100. In this case, if the drawdown reached the specified amount, all orders will be force closed;
  • RiskPercent - risk percentage for calculating the lot based on deposit or on AllocatedAmount;
  • Lots - fixed lot, if automatic lot calculation is disabled;
  • MultiplierLots - lot multiplier for averaging positions;
  • MaxLots - the maximum allowable lot;
  • AutoDistance - automatic calculation of the distance between orders;
  • FixDistance - fixed distance, if automatic calculation is disabled;
  • DepthHistory - the number of bars to calculate the distance between orders;
  • SplitterDistance - divisor of the distance for a certain number of bars;
  • MaxTrades - the maximum number of open positions;
  • Slippage - acceptable slippage;
  • PeriodLevelFirst - period of the first channel indicator;
  • UpperLevelFirst, LowerLevelFirst - the upper and lower boundaries of the channel, within which the EA is allowed to trade;
  • PeriodLevelSecond - period of the second channel indicator;
  • UpperLevelSecond, LowerLevelSecond - the upper and lower boundaries of the channel that define the oversold and overbought states of the market;
  • MagicNumber - identifier of orders;
  • TakeProfit - fixed take profit;
  • UseTrailingStop - trailing stop;
  • TrailStart - trailing stop start;
  • TrailStop - trailing stop step;
  • UseOutTime - close positions in breakeven after a certain time;
  • MaxOpenHours - the maximum position holding time, after which the robot tries to close them in breakeven;
  • StopLoss - fixed stop loss based on the breakeven level for the entire series of orders;
  • VirtualStopLoss - virtual stop loss as a percentage of the deposit;
  • StopLossPercentage - percentage of the virtual stop loss;
  • PeriodIndicatorStop - period of the channel indicator for opening and early closing orders;
  • LevelIndicatorStop - width of the channel, within which the EA is allowed to trade. In case the price exceeds this channel, all orders are closed;
  • Drawdown - drawdown as a percentage of the deposit for the EA to stop trading after closing orders (they are not closed forcibly). This function is designed to catch the moment when the market starts reshaping, in order to optimize the EA. Once triggered, the function is disabled when the robot restarts. If 0, then it is not used.
  • BeginFirstSession, BeginFirstSessionMin, EndFirstSession, EndFirstSessionMin - session start and end times in hours and minutes;
  • GMTDifer - time offset.


Recommendations

  • Currency pair - any of the ones, at which the robot can be optimized (the robot is configured for EURUSD by default);
  • Chart timeframe - from М1 to М15 (the robot is configured for М15 charts by default, М1 is recommended);
  • The minimum deposit for one currency pair - 100 USD per 0.01 starting lot.
  • The robot is configured for GMT+3 time. If your broker time is different, and you use our settings, then it is necessary to shift the EA operation time using the GMTDifer parameter. To avoid confusion, refer to the information field of the robot. After the adjustments, it should print (GMT 3) on the chart.
It is faster to optimize the robot using Open prices, while obtained results are better to be checked on every tick.
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