Before you buy a night scalper please be aware of the risks involved:
1) Past performance is no guarantee of future profitability (the EA could also make losses).
2) The backtests shown (e.g. in screenshots) are highly optimized to find the best parameters but therefore results cannot be transferred to live trading.
3) Any mean reversion can get caught on the wrong side of a fast movements due to unexpected news or flash crashes. This strategy will always use a stop loss, but still execution of the SL depends on your broker.
4) Night scalpers are dependent on good brokerage conditions, like low spread and slippage, which might be worse on high lot sizes.
GerFX Density Scalper MT5 (MT4 version here) is a mean reversion system during the quiet hours of the day. It is similar to QuantFlow Scalper but optimized in a few ways to reduce slippage. For example, the entry logic was reduced to make the calculation faster and the exit is done via take profit orders, which can even lead to positive slippage.
Additionally, it offers various paramters for optimization of entry conditions and other improvements.
It does not use martingale or grid and has a stop loss for every position.
Symbols: EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, CHFJPY, (experimental: USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, NZDCAD)
Time frame: M5
Max. drawdown in 16 year backtest: $35-50 per 0.01 (depending on number of pairs)
If GMT auto settings are used, the EA will automatically try to detect the GMT offset. Best double check it manually when used the first time.
The EA should run on a VPS continuously without interruption (also Friday evening) to store the historic data.
Please allow web requests to the following URLs for the calendar news filter and automatic GMT offset calculation:
Ideally, backtests should be done with Tick Data Suite GMT+2 with US DST.
It is important to use real spread in backtesting and not some fixed spread. But be aware that the spread can be very different between brokers at that time.
The EA should be turned off on days of important events, for example general elections in UK, US or Europe!
Please also have a look at the blog post and the “What’s new” tab for additional parameters.
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