Momods Night Scalper EA — makes money while you sleep!

Leave a Comment

Momods Night Scalper EA — makes money while you sleep

Hello, dear traders. We present to your attention a profitable Forex expert advisor “Momods Night Scalper“. Its distinguishing feature is the multi-currency scalping in the night time. While you are dreaming, this robot makes profit for you.

Characteristics of the EA

Software: Metatrader 4
Currency pairs:  EURUSD, GBPUSD, USDCHF, EURGBP, EURCHF, EURCAD, USDCAD
Time-frame: M15 (for EURUSD M30)
Trading time:  Asian Session (GMT hours 11 p.m. to 8 a.m.)
Recommended Brokers: Roboforex (ECN accounts)

Help on installing

The EA is installed as usual. If you first encountered the Forex robots and you have a lot of questions — read this article.

Settings for each pair are already encoded in this EA, so we just open the desired pair in the desired timeframe and set the EA to each chart. You should set the correct GMT offset on every chart for every Robot (read here how to do it)

 Robot Strategy

Momods Night Scalper EA strategy

Trading style: scalping strategy in a limited range. The EA works during the Asian session, when trading activity is minimal, and is a scalper to the flat nature.

EA backtest

Backtesting is done on EUR/USD pair.

nigth owl tests

As you can see, we have highly efficient trading with low drawdowns.

Real account monitoring

Settings description

  • EA_Name — name of the Expert Advisor
  • C_1— explains the value of the field  EA_Comment
  • EA_Comment— field for setting a comment to the orders
  • S_1— explains the value of the field  MAGIC
  • MAGIC— you can set unique number for orders. If meaning is 0, it uses its own set of EA for each pair
  • New_Trade— switch of placing  of new orders, the default value is True (trading is allowed)
  • S0— line in the settings is “for beauty”,  has no content
  • lot— the size of the lot, in the absence of data, use the calculation on the basis of variable Risk
  • Risk— the risk percentage per one trade
  • Hide_SL_TP  — to  hide Stoploss and Takeprofit from the broker, default is False (not to hide)
  • Slippage — slippage in pips
  • C0— explains the value of the field  Max_Spread
  • Max_Spread — you can set maximum spread.  If meaning is 0, it uses its own set of EA for each pair

Recommended spread values for EA:

1. EURUSD — spread 1.6
2. GBPUSD — spread 2.0
3. USDJPY — spread 2.0
4. USDCHF — spread 2.5
5. EURGBP — spread 3.0
6. EURCHF — spread 3.0
7. EURCAD — spread 4.0
8. USDCAD — spread  3.0

  • S1—  line in the settings is “for beauty”,  has no content
  • Use_Auto_Time — automatic GMT determination, default  FALSE
  • GMT_Offset— manual settings of the server time (what is GMTOffset)
  • UseDST —to take into account daylight saving time, default is  FALSE (not to take into account)
  • S2 —  line in the settings is “for beauty”,  has no content
  • Trade_Pause_On_Loss — switch of trading pause after loss on the trading deal,  default is FALSE (do not take into account)
  • P — explains the value of the field  Pause Type
  • Pause_Type — the type of pause after a loss: 1 — in minutes, 2 — в pips
  • Trade_Pause_Minutes— pause after a loss in minutes
  • Trade_Pause_Pips— pause after a loss in pips
  • S3 —  line in the settings is “for beauty”,  has no content
  • Allow_Second_Open_Trade — switch of settings of the second order after the
  • opening of the first order, default is false (not used)
  • Distance  — distance in pips for settings of the second order
  • Lot_Factor — the size ratio of the second order relative to the first one
  • Show_Fractal_Levels— shows fractals in the charts, default is False (not used)

Attention! Don’t change anything in the EA parameters and use the recommended values of spreads, if you don’t understand exactly what you’re doing!

Recommended Money Management

recommended money management forex

You should not set the risk higher than 7 %. If you use fixed lot, the recommended level is: 0.01 lot for every 200 units of currency in your account.

Summary

summary

Momods Night Scalper EA is a consistently profitable multicurrency robot of scalping type. Without a doubt, it deserves your attention and is recommended for use on real accounts.

 

Important!

For correct operation of the Expert Advisor trading terminal should be working from the market open on Sunday night till closing on Friday evening. If you have no way to keep the computer in working condition 24/5, it is recommended to use VPS server.

Download  «Momods Night Scalper EA»

 

Related Posts: