Night Advisor - Night Owl EA
Greetings dear visitors to the site.
Today I want to introduce to your attention an advisor called Night Owl EA. This expert uses a unique multi-currency scalping strategy, which is based on standard indicators and one custom indicator.
The Night Advisor works, as you would expect, at night during the Asian trading session.
This expert is multi-currency, so it will open positions on various currency pairs.
By default, the advisor works on the following currency pairs: EURUSD, GBPUSD, USDJPY, USDCHF, EURGBP, EURCHF, EURCAD, USDCAD.
To work with the advisor, you need to install it in your Meta Trader 4 terminal. To do this, download the archive with the advisor and indicator. In a running terminal, go to the file menu and open the data directory. Place the custom indicator in the indicators folder, and the advisor in the expert folder. Important, don’t forget to discard the indicator because without it the advisor will not work! Next, restart the terminal and find Night Owl in the list of advisors. Drag the advisor onto the chart with the m15 time frame and allow trading.
Setting up the night advisor.
Since the advisor is multi-currency, it has unique settings for each currency pair. The author included all the settings that directly relate to the trading strategy in the advisor's code, leaving only the basic settings of the advisor open. This is done to ensure that the user does not lose his account due to manipulation or optimization of settings. Fresh advisor settings are released with updates to the expert.
In the New_Trade line you can enable or disable placing new orders of the advisor. In the Lot line, you can set the initial Forex lot that the advisor will use. The Risk line is responsible for the automatic calculation of the lot depending on the risk percentage of the deposit. If you suspect that your broker is dishonest and may be moving your profits or stop orders, in the advisor settings there is a line Hide_SL_TP, which is responsible for hiding stops and profits from the broker. In the TakeProfit line you can change the expert's profit, and in the StopLoss line you can change the stop loss .
In the Slippage line, you can specify the maximum quote slippage at which the expert can open a position. In the Max Spread line you can change the maximum spread with which the adviser will work.
Initially, I decided to conduct a test on the pound/dollar currency pair on a fifteen-minute chart with default settings. The testing range was selected from January 1, 2015 to May 14, 2015. The result of the advisor test is shown in the picture below:
As you can see, the test result is quite satisfactory, and this despite the fact that the expert does not use martingale , grid, or reversals. The second test was carried out on the euro/dollar currency pair with the same conditions. The test result is shown in the picture:
This time the test result is less positive, although it’s hard to call this result a loss.
If we take these currency pairs as a whole, the adviser will be in the black. From my point of view, the expert is quite profitable and reliable, especially if you spend time fine-tuning it, although you can’t count on fabulous results.
I do not recommend exaggerating the risks and abusing a large lot. Before betting on a classic trading account, I recommend spending a month of testing using cent accounts . This will help you see the weaknesses and strengths of the advisor while risking small funds. Thank you for your attention. Good luck