SFE Night Scalper
This system takes advantage of the stagnation of the market at the final of the New York session and the first hours after that close. It detects small deviations and enters in the contrary direction trying to close the operation in the level before that deviation happens. If the operation does not close with profit during the stagnation hours, the EA tries to exit in a favorable condition in the next hours, before the European session opens again.
The EA can work on M5, M15, M30, H1 timeframes, but the M5 timeframe is recommended.
Selection of the trading hours is the clue of this EA. Manage the 'open positions day hour' parameters to select these hours. In general, the last hour of the New York session and the first hour after New York has closed, are the profitable hours.
Disconnecting the related pairs in the days with major events is also recommended.
- FIFO compatible. Only one order at the same time is opened on each symbol. No martingale, grid, hedge techniques.
- Can be profitable with several pairs and the correlation of the results between different pairs is very low. This means that it is profitable working with more than one pair at the same time.
- Lightweight CPU consumer. The system only runs at the first tick of a new bar.
- Fixed_Order_Size. Order size in lots. Used if the parameter 'FREE_BALANCE_FOR_EVERY_001_Lots' is zero.
- Free_Balance_For_Every_001_Lots. If you set here a value > 0, for example 1000, the size of the trade will be 0.01 lots for every 1000 of free margin.
- Autolot_Balance_Percentage. Define the percentage of your account balance to assign (0-100.0).
- Max_Spread_pt. The EA will not open orders above this spread. Put this value in pips.
- Start_Trade_Hour / End_Trade_Hour. At this hour (included), begins/ends the period for opening new orders (value between 0 and 23).
- channel_period. Period used to calculate the signal channel. Values between 20 and 200 are recommended.
- channel_size. Relative size of the signal channel. Values between 0.5 and 1.5 are recommended.
- sl_multiplier / tp_multiplier. Multiplier applied to the SL/TP distance. Values between 0.5 and 2.0 are recommended.
- use_waves. Select 'yes' for using the defined 'waves'. A 'wave' represents a set of parameters.
- waves_channel_period / waves_channel_size / waves_tp_multiplier / waves_sl_multiplier. Enter the values for every wave separated by semicolon (;). The maximum number of waves is 9.
- only launch one order for every 'wave' (instead up to three)
- changes in one of the setup algorithms result in more trades than previous versions
- do not open any trades on Friday afternoon to avoid a weekend gap and bad spreads at the opening of a week.
- option to set the number of 'wave' to be able to launch several combinations of the same pair and same timeframe on different charts.
- option to set the size of the trade in relation to the free margin
- improved version of the entry and exit algorithm