Reply To: Description of Midnight EA

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#4741
DominikDominik
Administrator

Hello everyone!

In the next 2-3 days the newest version of Midnight EA should be published on MQL5.com. There will be a special offer for all users of my forum to buy it for symbolic price for just one or two days and then the price will grow to regular level (399$). I will send a link to this product in mass-mail to each one. For all people that are interested in this product I share below description and some screenshots with results and graphs made on ticks from 2010 to 2016 (7 full years) with modelling quality 99,9% and real spread from Darwinex.

Description:

Midnight EA is an advanced Expert Advisor based on Price Action technique in order to identify current market situation on specified currency pair and to predict the next price movement. It doesn’t use any indicators or anything else than pure price action. It also doesn’t use martingale, grid, hedging, scalping and other risky (disproportionate to the expected profit) techniques.

Expert Advisor starts to work each day late in the evening (before midnight) in the GMT (UTC) time zone on M30 timeframe. It closes opened orders after expiration of an average of several minutes to 2-3 hours. Sometimes it may take longer to close the order, but mostly very early in the morning all the orders are closed.

EA works with all currency pairs, but I recommend using maximum 16, which I have selected in many optimizations and tests and which proved to be the best of all. A complete list of these 16 pairs with their results you can see on the screenshots. These pairs are also selectable in EA properties under the parameter marked as “Selected_Symbol”. If the symbols provided by your broker are without prefixes and suffixes and looks like e.g. “GBPCAD”, “EURCHF”, “AUDCAD” etc. you can leave “Selected_Symbol” set to “Automatic” and EA will automatically detect your current currency pair and use the predefined settings which are hardcoded in EA. Otherwise, if you see symbols on “Market watch” with prefixes or suffixes I suggest to choose currency pair from the list “Selected_Symbol” corresponding to your symbol (e.g. for “EURCHF.m” choose “EURCHF”). If you want to trade or just test some other pairs which are not on the list under parameter “Selected_Symbol” you should set it to “Automatic” and EA will know what to do.

Portfolio created with 16 pairs tested since the beginning of 2010 to the end of 2016 opened and closed about 50.000 orders. With spread set to 20 and fixed size of an order it gives the average winning ratio at around 95% with Profit Factor above 3 and Drawdown below 3% (this example is for order size equal to 0.2 lot for 1000$ initial deposit for each one pair – proportionally the same will be for size 0.01 lot for 50$ deposit for each one pair). More details you can see on the screenshots.

With less initial capital (or for other reasons, such as less open positions) I suggest you to start trading with the best 7 pairs, which are (in order from the best): GBPCAD, CADCHF, GBPCHF, EURCAD, EURCHF, USDCHF, AUDCAD. Winning ratio for a such portfolio is over 97% and Profit Factor over 4. Starting from size of an order equal to 0.01 you won’t need more than 150-200$ balance and Drawdown shouldn’t be higher than 5%.

Midnight EA is equipped with an algorithm that prevents a loss of more than about 30-45 pips for each currency pair and this value depends among others on the spread. This algorithm protects us also before closing order with loss on the Stop Loss when the spread explodes into gigantic value for a few seconds etc. In other words, it is a dynamic Stop Loss, which is not visible to the broker and is resistant to spread manipulation by a broker :) Take Profit is also hidden and dynamic – dependent on market conditions.

All that you must do to trade with Midnight EA is to open charts in MT4 with currency pairs which you want to trade, set timeframe to M30 and put Midnight EA on all of them. All parameters that you should set in Midnight EA are “Selected_Symbol” (only if your symbols have prefixes or suffixes), “Max_Spread_To_Trade” (recommended no greater than 30, you can leave default 25 or change to lower if you want) and “Money_Management”:
a) if “Auto_Lots” is set to False: EA will always trade with fixed size of lot specified in “Trade_Size_in_Lots”,
b) if “Auto_Lots” is set to True: EA will trade with automatic value of lot dependent of “Lots_To_Balance_Factor” – Factor set to 1 means that EA will trade 0.01 lot for each one 1000 units of balance (e.g. Factor set to 10 will put an order of 0.10 lot if your balance is equal to 1000 USD/EUR/GBP/CHF/etc. If your balance will grow to 1500 USD/EUR/GBP/CHF/etc. with same setting of Factor EA will put and order of 0.15 lot).
Other parameters can be set freely as you want.

For this Expert Advisor I recommend true ECN/STP/NDD account with spread as low as possible and VPS with Windows where you can install Midnight EA, set parameters and leave in peace :)

Regards!