NIGHT OWL is a night scalper that trades during the quietest market period.
Prices at this time are usually flat, and the EA trades in the channel.
Each trade is provided with an initial stop loss and take profit. There is also a system of intelligent profit-taking: the Expert Advisor evaluates the potential of transactions and, if necessary, closes them.
The Expert Advisor works on all pairs with a stable spread and quiet movement at night. It is also able to work with larger spreads without much loss of performance.
The EA has a spread and slippage filter to avoid opening trades in too volatile markets.
You can set the desired trading hours for each day.
Already optimized for EURUSD, USDCHF, GBPUSD, USDCAD, GBPAUD, GBPCAD, GBPCHF, EURCHF, EURAUD, EURCAD and AUDCAD!
Current settings files:
- Trades during quiet market hours
- Each trade is accompanied by a stop loss to protect your capital
- Manage stop levels based on market movements
- Good risk to profit ratio especially for scalpers
- Powered by M15
- Spread Filter
- Slip Filter
- History testing shows stable results for 2007-2017
- Comment – comment on transactions
- MagicNumber – unique magic number of deals
- Max Slippage Allowed – maximum allowed slippage
- Max Spread Allowed – the maximum allowed spread
- Maximum Daily Range size – the maximum range of the day
- AutoLotMode – lot size control type
- StartLots – fixed lot size
- Risk_Per_Trade – maximum allowable risk per trade
- LotsizeStep-capital used for each 0.01 lot
- OnlyUp – do not reduce the lot size when using autolot
- Max number of Trades – maximum number of open orders
- Minimum distance between trades – minimum distance between trades
- Range size – the relative size of the range for trading (the number of candles used)
- Range Roughness – range boundary
- Range entry Point – distance from the border to the entry point
- Range strength – the necessary strength of liquidity
- Use only BID price for calculations-consider only the BID price in all calculations
- Stop Loss – initial stop loss
- Take Profit-initial take profit
- Trailing SL Start – start of trailing (0-disabled)
- Trailing SL Size – the size of the trailing stop
- Trailing SL Step – minimum trailing stop step
- BreakevenStart – when to set breakeven
- BreakevenPlus-an additional value above breakeven to set the stop loss
- Close all open trades when total pips in profit-close all trades if the total profit reaches the specified value in pips
- Close Trades after X minutes and Y Minimum pips profit-time exit strategy
- Minimum pips profit – the minimum profit in pips when using the time exit strategy
- Close trade at X pips from other side of range – the distance from the opposite side of the range at which orders should be closed
- Minimum pips profit before close at other side of range – minimum profit in pips when using a close on the opposite side
- Time filter – start and end time of trading for each day
- StartHour – the start time of the Expert Advisor (daily)
- StartMinute – the minute when the EA starts working (daily)
- StartHour – the end hour of the Expert Advisor (daily)
- StartMinute – the minute when the Expert Advisor ends (daily)
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Attention: By default, trading hours are set for brokers trading in the GMT 3 (summer) and GMT 2 (winter) time zones. Change the value based on your broker’s time zone!