EA Settings and Configuration Information
On this part, I’ll present an in depth overview of all of the parameters of the EA and set them for optimum efficiency. If you’re new to utilizing the EA or need to fine-tune the settings, this information will help you.
EA Parameters:
- EA_Name – This title seems within the commerce notes.
- Show_Info_Panel – Permits or disables the information panels displaying account information and key settings.
- Stop_Loss & Take_Profit – Set the cease loss (SL) and take revenue (TP) in pips.
- Trailing_Stop – Permits or disables the trailing cease.
- Trailing_Stop_Start – Set the pip worth at which the trailing cease will begin working.
- Trailing_Stop_Distance – Set the pip distance at which the trailing cease will observe the worth.
- Start_Time_Hour & Start_Time_Minute – The beginning time of the commerce, in hours and minutes.
- Spread_Filter – Permits or disables the unfold filter.
- Max_Spread – The utmost allowed unfold, past which no trades will likely be opened.
- Fixed_Lot – Set a set lot measurement (works provided that the auto lot operate is disabled).
- Use_Auto_Lot – Permits the auto lot operate, which calculates the danger as a share of the fairness.
- Risk_Percentage_Per_Trade – Set the danger per commerce as a share of the fairness.
- Recovery_Mode – Permits or disables the restoration mode.
- Lot_Multiplier_After_Loss – Multiplies the lot measurement by this worth after a loss.
- Reset_After_N_Losses – Resets the lot measurement after the desired variety of consecutive losses.
- Reset_After_N_Profits – Resets the lot measurement after the desired variety of consecutive wins.
- Trade_On_Monday – Permits or disables buying and selling on particular days of the week.
- Magic Quantity – The distinctive identifier for the EA. Helps make sure the EA solely manages its personal trades.
The way to Test if the Dealer’s Server Time Matches the Default Settings:
- Proper-click on the Gold image within the Watchlist.
- Choose Specs.
- Scroll all the way down to the Buying and selling Hours part.
- Test the market shut time. Whether it is 23:59, no adjustment is required.
- If, for instance, the market shut time is 20:59, set the Begin Time to twenty:00.
I’ve created an indicator that mechanically determines the beneficial buying and selling time, and I’ve hooked up it right here:
Really useful Threat Settings:
- Conservative: 2-3% danger per commerce.
- Aggressive: Max 10% danger per commerce (with out Restoration Mode).
My Settings:
- Excessive-Threat Account: 15% danger per commerce, all different settings are default.
- Medium-Threat Account: 3% danger per commerce with Restoration Mode enabled. On this mode, if a commerce leads to a loss, the following commerce will use lots measurement multiplied by 5 (solely as soon as) to get well the loss. This considerably will increase the danger: two consecutive dropping trades would lead to a lack of roughly 3% + (3% × 5) = 18%. Nonetheless, the likelihood of two losses in a row may be very low primarily based on historic efficiency.
Prop Agency Settings:
Since every prop agency has its personal guidelines, be certain the EA complies with these. If many customers use the identical technique, the account could also be banned, so some settings should be minimally adjusted:
- EA Title (as seen within the feedback).
- Magic Quantity.
- Set the danger per commerce between 0.5% and three% to adjust to the prop agency’s day by day drawdown restrict.
- SL and TP slight adjustment: If you’re utilizing a trailing cease, you possibly can modify the TP freely so long as it’s bigger than the trailing cease worth. It’s also possible to modify the trailing cease values by half or 1 pip.
- Commerce Time adjustment (±1-2 minutes). Be cautious, as these adjustments can have an effect on the outcomes.
- Some prop corporations prohibit conserving trades open over the weekend. In such instances, buying and selling on Friday have to be disabled.
Particular Dealer Suggestion (for brokers that elevate spreads at evening, e.g., XM):
If the unfold will increase at evening, disable the trailing cease as it could negatively influence efficiency. Set the TP to 26 pips, which has given good outcomes for me.
Incessantly Requested Questions (FAQ)
Under you will discover a abstract of essentially the most ceaselessly requested questions in regards to the Golden Nights EA. This checklist is up to date often.
Which period body ought to I take advantage of?
The EA works identically throughout all timeframes. It’s not timeframe dependent.
Does it work on indices or different devices?
No. The EA is particularly optimized for gold. In the event you want to strive it on one thing else, you should backtest and optimize settings your self, and solely use it if outcomes are promising.
Can I commerce at completely different instances or open a number of trades per day?
No. Buying and selling at different instances could cut back profitability or lead to losses. The EA is designed to open just one commerce per day, and solely one place at a time — to keep up danger management.
Why does it solely place Purchase orders?
The technique exploits typical value patterns earlier than the gold market closes, which often present an uptrend or consolidation. Lately, gold has been in a robust bullish pattern, supported by financial and geopolitical elements, and continues to be.
Is the swap hurting outcomes?
Sure, it has some impact, however most trades shut earlier than the market closes.
Suggestions:
– Use a swap-free account
– Disable buying and selling on Wednesdays to keep away from 3x swap expenses.
What about excessive nighttime spreads?
Some brokers enhance unfold at market shut/open. Really useful settings:
– Trailing Cease: OFF
– TP: 26 factors
This works effectively on brokers like XM.
Does the EA use martingale or grid?
No. Neither technique is used.
Nonetheless, there’s an non-obligatory “Restoration Mode” that will increase lot measurement after a loss. It’s totally customizable and might be disabled.
Why is the risk-reward ratio low?
True, the RR is low, however that is compensated by the excessive win charge (~96%) in response to backtests. Lengthy-term outcomes stay worthwhile.
Can I alter SL/TP to enhance RR?
Not beneficial, as it may hurt efficiency and even trigger losses. In the event you insist, be certain to backtest totally earlier than going stay.
Can I take advantage of this EA for prop agency challenges?
Theoretically sure, however every agency has completely different guidelines. No ensures in opposition to bans, particularly if many customers make use of the identical EA. All the time verify the agency’s situations first.
Really useful Brokers and VPS for Utilizing the EA
I’d wish to share my private expertise with the brokers I’ve been utilizing, which have been performing excellently with the EA. Each brokers supply swap-free accounts and have low charges, making them an awesome alternative for working the EA successfully.
XMGlobal for European Shoppers with buying and selling leverage 1:500
Moreover, for the perfect EA efficiency, a dependable VPS is essential. Whereas you need to use MetaTrader’s VPS service, I additionally suggest ForexVPS as a wonderful different. Listed below are some benefits of utilizing ForexVPS:
- Low Latency: Ensures quick execution instances, essential for automated buying and selling.
- 24/7 Uptime: Your EA runs continuous with out interruptions.
- Quick Assist: Fast response instances for troubleshooting or setup help.
- Specialised for Buying and selling: Optimized for working MetaTrader and different buying and selling platforms.
That stated, this EA ought to work effectively with different brokers too.
Understand that low spreads, good buyer assist, and swap-free accounts are important for maximizing the efficiency of your EA.
