Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
NOTE: Please run only on GBPCHF and GBPCAD for now
NEW PROMO:
- Only a few copies copies available at 349$
- Next price: 449$
STARLIGHT is a very advanced, low risk night scalper which uses a unique approach to the entry algorithm compared to other night scalpers.
It was developed using years of experience in live trading with the mean-reverse strategy, and selected only the best pairs and techniques to be included in this EA.
Since the EA is build upon existing technology that was developed over the years, the EA is very intelligent and has lots of smart features.
The focus was put on keeping risk and drawdowns limited as much as possible.
Recommended pairs: EURUSD;GBPUSD;AUDCAD;EURAUD;EURCAD;GBPAUD;GBPCAD;USDCAD;EURGBP;USDCHF;GBPCHF;EURCHF;CHFJPY;
Live account A- Medium risk: https://www.mql5.com/en/signals/1634109
Live account B - Low risk: https://www.mql5.com/en/signals/1634025
Key features:
- News filter -> prevent trading during high impact news events
- OneChartSetup -> run all pairs from 1 single chart
- Individual Performance Monitor: Each pair will automatically have it's risk reduced if it is not performing well, and again increased if it is again profitable.
- Correlation filter -> prevent too much exposure for the same currencies
- Swap filter -> prevent trading during high swap-cost days
- Rollover filter -> filter out pairs which could have big slippage during rollover
- Extreme low drawdowns compared to other night scalpers
How to backtest the EA:
It is highly recommended to use MT5 for backtesting. That way you can simulate the portfolio of all pairs trading together with compounding effect. Also, MT5 uses high quality tickdata with variable spreadOn MT5 -> Run the test on EURUSD M5, enable the OneChartSetup in the parameters, set the risk as you want, and select a high quality testing (minimum 1minute OHLC)
On MT4 -> Run the test on each individual pair on M5 timeframe. Select risk and use "every tick" for testing quality
A full list of the parameters and their desciption can be found in the manual.
How to set up the EA for live trading:
Important: Add the 2 URL's as explained in the manualOpen a EURUSD M5 chart (if your broker uses a suffix, run on a chart with that suffix! (for example: EURUSDm or EURUSD.ecn)
Attach the EA to the chart and in the parameters, set OneChartSetup = true
Set the lotsize to your desired risk (see manual for more details)
Night scalping requires a decent ECN broker. For recommendation, contact me in PM.
