Polar Star EA
- Experts
-
Wei Tu
With a deep understanding of the foreign market, extensive experience in trading and developing quantitative trading systems, and a thorough understanding of financial markets, I am able to develop effective automated trading solutions by analyzing market data and continuously optimizing and - Version: 1.54
- Activations: 10
Polar Star is a multi-symbol nighttime trading EA for MT5. It seeks mean-reversion opportunities following short-term price deviations during a defined trading session, enters through pending orders, and automatically manages stop loss, take profit, and additional entries.
Run multiple currency pairs from a single chart. The default pairs are GBPUSD, USDCAD, AUDUSD, EURCHF, and EURUSD. You can also customize the symbol list in the settings.
How does the strategy work?
The EA uses a moving average and standard deviation to calculate pending order prices, applies a volatility filter to assess entry opportunities, and places pending orders when the trading conditions are met. When the price moves against an open position, the EA can add counter-trend grid positions at the specified intervals and adjust the take-profit target based on the volume-weighted average entry price of positions in the same symbol and direction. Both the grid spacing and the maximum number of additional positions are adjustable. Setting the maximum number of additional positions to 0 disables grid additions.
The default entry window is 2 hours. The window length and server GMT settings can be adjusted. The EA determines the trading session based on server time and the GMT settings. After the window closes, the EA cancels the relevant unfilled pending orders and continues to manage existing positions. It may also continue adding positions if the conditions are met. The EA must remain running while positions are being managed.
The parameters include dynamic take profit, closing profitable positions after the entry window ends, and holding-time exit settings. Once the specified holding time has been reached and the other strategy conditions are also met, the EA executes the corresponding closing operation.
Features
- Trade multiple currency pairs from a single chart, with an adjustable symbol list
- Automatic position management, including dynamic take profit and conditional exits
- Automatic GMT detection and trading time adjustment
- Comprehensive risk management system
Account Requirements
- Account type: Hedging account
- Minimum account balance: USD 50
Before You Start
- Enter the full symbol names provided by your broker, including any prefixes or suffixes, and confirm that these symbols are available for trading.
- Check your broker's server time zone. When backtesting, configure the manual GMT parameter.
- Set the lot size, the number of symbols with concurrent positions, and the maximum number of grid additions according to your account balance. Holding positions in multiple symbols and adding successive positions both increase capital requirements.
- Complete backtesting and demo account testing in your own broker's trading environment. Keep the terminal connected to the internet and algorithmic trading enabled while the EA is running. The chart panel displays account, position, and trading status information.
Risk Disclosure
Nighttime spreads, slippage, commissions, swap charges, and actual execution conditions all affect trading results. Polar Star includes counter-trend grid additions, which may result in substantial losses during sustained one-directional market moves.
