Night Trader EURUSD
No grid! No martingale! No manual configuration or adjustment needed! Every trade is protected by stop loss.
This Expert Advisor only trades for a short time frame at night, during the ending of the New York session.
It uses low volatility moments in EURUSD and enters trades based on indicators. It then manages those trades with dynamic stop losses and take profits also based on indicators. A safety mode further reduces possible losses based on Bollinger Bands.
Please find a signal for this expert here: https://www.mql5.com/en/users/ugur-edin/seller
- Custom Magic - magic number, unique number to identify Expert and Currency pair
- Custom Comment - trade comment
- Maximum allowed spread - limit the maximum allowed spread based on your broker conditions
- Maximum allowed slipage - limit the maximum allowed slippage
- Use dynamic Money Management – enable automatic determination of lot sizes
- Risk - determine a risk for each trade in percent of equity divided by 10 if the above parameter is enabled.
- Max Lot-Size - maximum lot size to be opened per trad
- Use only fixed Lot-Size - when dynamic money management is disabled, all trades are opened with this fixed lot size
- Safety-Mode - if enabled, Bollinger Bands are used to further reduce possible losses
- Is New York in DST - set to true if New York uses Daylight saving time (Spring). Set to false if New York does not use Daylight saving time (Winter)
- GMT Offset in Hours in Hours - for backtesting, auto-calculation of GMT is not possible, so you still have to set this GMT offset of your broker manually if you want to get the best results from backtesting
- News source - do not change unless instructed - in order to use the news filter, you will have to allow MetaTrader the parsing of the following URL: http://www.forexfactory.com/ffcal_week_this.xml (can also be copied from settings)
- Optimization Values - set of values that optimize the general trading behavior of this EA. When market conditions change over time, we may publish new values. Unless we do, please do not alter these values.
ECN and 5-digit broker recommended, but not required.
Magic number is now customizable, in case you want to use it with different currency pairs.
#MAX ALLOWED SPREAD CUSTOM
You can now limit the maximum allowed spread based on your broker conditions.
You no longer have to set a GMT value manually. The expert will now autocalculate the correct GMT-offset. However, DST must still be set manually. When New York changes DST, please adjust accordingly. Next settings change will be in Spring 2017.
To verify that this feature works correctly, we display three different times on the screen: GMT-Zero, Your Broker Time and Local Time. Please check if those values are appropriate.
For backtesting, auto-calculation of GMT is not possible, so you still have to set this value manually if you want to get the best results from backtesting.
From time to time, we have disabled our expert due to current news situations. While we have informed you about that beforehand, we have now included a newsfilter that automatically suspends all trading when the news situation demands it. However, our news filter is a great step to improve trading comfort, the news source does not have all news, so there may still be times that we advise you to manually shut down the expert. Please stay tuned.
In order to use the newsfilter, you will have to allow MetaTrader the parsing of the following URL: http://www.forexfactory.com/ffcal_week_this.xml (can also be copied from the settings).
Our stop losses are calculated depending on the market situation. In very high volatility situation, you can earn a lot of money but also have an increased risk of losing money. If the volatility is too high, we suspend trading momentarily to avoid significant losses.