Trading Robots for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Black Night is more than just another night scalper. It is focused on safety first for a long-term stable growth:
- It keeps trading activity low in the difficult rollover hour when the spreads widen and liquidity is low.
- It starts trading one hour before the 'usual' night scalping time to take profit without swap and before spreads widen - if possible.
- If a trade is open it does not open trades in correlating currency pairs.
- It needs no set files and works fully automatically with the default settings in 8+ pairs.
- Black Night shows live trading results: Black Night Live Trading mt5 version >>
- Black Night allows to adjust the strategy.
- Black Night does not use dangerous strategies like martingale or grid.
It opens always just one order with hard StopLoss in a currency pair.
Recommended Pairs: AUDCHF AUDUSD AUDJPY EURUSD GBPUSD EURGBP EURCHF CHFJPY
Black Night requires one chart for each currency, it has not a one chart mode!
For lack of space here see setup and settings in short form in the mt4 version.
Backtesting and optimization for mt5 are explained in the blog >>
Version 1.8 is internally otimized for all pairs shown in the screenshots.
Other pairs show profit but need more code optimization.
After christmas, between the years, meaningful trading is rarely possible. If there are any movements at all, experience shows that they are extremely unpredictable due to the overall thin trading volume. For this reason, live trading is recommended to be deactivated until 2 January.
Black Night 'knows' when important US holidays come, to lower then trading activity in USD related pairs.
First Black Night sets limit orders in 8 currency pairs. If a limit order is executed and turnes into a buy
or sell the EA deletes correlating limit orders and doesn't open new ones until the running order is closed.
Once a order is opened pending orders of correlating pairs are closed to lower risk.
Black Night automatically detects the pair and indicates it in the chart (up, left) together with the current spread.
Details about the pairs and lotsizing in the signal description >>
Settings
The first 2 settings set start & end of the period when orders are opened.
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HourStart - 2 hours before rollover, here 22.
Most brokers use GMT+2 in winter and GMT+3 in summer (US DST). Their rollover is at 0:00.
-
HourEnd - hour after rollover, here 1
-
Auto_Moneymanage: auto money management: 1 = On
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MiniLots: if true, Auto_Moneym. has steps of 0.01 lot
-
MaximumRisk: % of account free margin set on risk for a trade
-
Lots: lot size if Auto_Moneym. is disabled
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DistB: points deviation to calculated level, where the buy limit order is set
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StopLossB: distance of stop loss for buys
-
TakeProfitB1: minimal TakeProfit for buys (if other conditions meet)
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TakeProfitB2: other TakeProfit for buys (if other conditions meet)
Following the same settings for sell orders and:
- MaxSpread: if spread exceeds this, set pending orders are deleted
The default setting is fairly low, so in the rollover hour usually all limit orders are deleted.
- LastTradeDayDec: for low liquidity around the holidays in 2nd half of Dec. trading is deactivated after the set day
- magic: number of EA
