The trade signal of EA Night Scalp is generated in the night at 0-8 hours GMT 00. EMA and RSI indicators settings are used for handling the orders. Time filter is used for choosing appropriate EA working time.
Either hard stop loss, take profit and trailing stop values can be used or volatility defined ones based on ATR indicator. In latter case multipliers for ATR values and the ATR period value must be entered.
Sizing option is available. If it is checked, the lot size is automatically calculated depending on a chosen risk and a stop loss value.
EA was tested on EURUSD pair on M5 and M15 time frames. Every tick data with variable spread and modeling quality of 99.9 percent were used for testing.
The best input values for each pair and time frame will be uploaded in comments. Also, you can see some results in the screenshots below.
Trading rules variables
- EMA period - period of exponential moving average
- Shift bar for EMA - shift bar used for EMA indicator (usually 0 or 1)
- RSI period - period of RSI indicator
- RSI limit buy open - low limit of RSI indicator for buy signal to open
- RSI limit buy close - high limit of RSI indicator for buy signal to close
- RSI limit sell open - high limit of RSI indicator for sell signal to open
- RSI limit sell close - low limit of RSI indicator for sell signal to close
Position sizing settings
- Lots - enter fixed lot size, but if trigger Is Sizing true, Lots variable will be ignored
- Is sizing on? - if true, lot size is received automatically depending on chosen risk and stop loss value
- Risk percent per trade - risk per trade (in percentage)
- Lot limit factor - determines the max amount of lots for trade depending on account balance (1.0 means 0.1 lots if account balance is equal 1000)
- Max orders - maximum orders allowed per one night on one chart
- Max positions allowed - maximum positions allowed to be generated on the platform from different charts. So, total theoretical risk can be calculated: (Risk percent per trade) * (Max positions allowed)
TP, SL and TS settings
- Min profit level (pips) - minimal value in pips to take profit
- Drop to profit level min (pips) - minimal value in pips to take profit when certain time (Hour drop to profit level min) comes
- Stop loss (pips) - enter static stop loss value in pips if you do not use ATR settings
- Take profit (pips) - enter static take profit value in pips if you do not use ATR settings
- Trailing stop (pips)- enter static trailing stop value in pips if you do not use ATR settings
- Use ATR settings? - if true, the robot uses ATR settings, if false, it uses static stop loss, take profit and trailing stop values
- ATR period - ATR period
- K for stop loss - multiplier for stop loss value (1 unit is 1 ATR value)
- K for take profit - multiplier for take profit value (1 unit is 1 ATR value)
- K for trailing stop - multiplier for trailing stop value (1 unit is 1 ATR value)
- Min stop loss (pips) - minimal stop loss value in pips when using ATR indicator
- Max stop loss (pips) - maximal stop loss value in pips when using ATR indicator
EA general settings
- Magic number - use different number for each pair and TF if you are working on one trade platform
- Max spread (points) - maximal spread value in points. It is better below 20 points
- Slippage (points) - slippage value in points. Use 2-3 points for Forex pairs
- Write journal? - if true, places EA comments in the Journal tab
- Start hour - starting hour for EA to generate signals
- Start minute - starting minute for EA to generate signals
- End hour - last hour for generating signals
- End minute - last minute for generating signals
- Hour drop to profit level min - hour to change the profit level (usually before European session)
- Close hour on friday - the hour on Friday to close all the orders
- Non-trading weekday - weekday on which trades are not allowed
Important! By default time zone used for testing is GMT+2 (summer time GMT+3). You should adjust your time settings according your server time.