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. In case you are new to utilizing the EA or need to fine-tune the settings, this information will help you.
Golden Nights MT5
Golden Nights MT4
EA Parameters:
EA_Name – This identify seems within the commerce notes. Show_Info_Panel – Permits or disables the data panels displaying account knowledge 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 comply with the value. 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 can be opened. Fixed_Lot – Set a hard and fast lot measurement (works provided that the auto lot perform is disabled). Use_Auto_Lot – Permits the auto lot perform, 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 required variety of consecutive losses. Reset_After_N_Profits – Resets the lot measurement after the required 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 Verify 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. Verify 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 advisable buying and selling time, and I’ve hooked up it right here:
Indicator MT5
Indicator MT4
Really useful Danger Settings:
Conservative: 2-3% threat per commerce. Aggressive: Max 10% threat per commerce (with out Restoration Mode).
My Settings:
Excessive-Danger Account: 15% threat per commerce, all different settings are default. Medium-Danger Account: 3% threat per commerce with Restoration Mode enabled. On this mode, if a commerce leads to a loss, the subsequent commerce will use so much measurement multiplied by 5 (solely as soon as) to get well the loss. This considerably will increase the danger: two consecutive dropping trades would end in a lack of roughly 3% + (3% × 5) = 18%. Nevertheless, the chance of two losses in a row may be very low based mostly on historic efficiency.
Prop Agency Settings:Since every prop agency has its personal guidelines, ensure 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 Identify (as seen within the feedback). Magic Quantity. Set the danger per commerce between 0.5% and three% to adjust to the prop agency’s each day drawdown restrict. SL and TP slight adjustment: In case you are utilizing a trailing cease, you possibly can regulate the TP freely so long as it’s bigger than the trailing cease worth. You may as well 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 retaining trades open over the weekend. In such circumstances, buying and selling on Friday have to be disabled.
Particular Dealer Suggestion (for brokers that increase spreads at night time, e.g., XM):If the unfold will increase at night time, disable the trailing cease as it might negatively affect efficiency. Set the TP to 26 pips, which has given good outcomes for me.
Steadily Requested Questions (FAQ)
Under you will discover a abstract of probably the most steadily requested questions concerning the Golden Nights EA. This checklist is up to date usually.
Which era body ought to I exploit?The EA works identically throughout all timeframes. It isn’t timeframe dependent.
Does it work on indices or different devices?No. The EA is particularly optimized for gold. For those who want to attempt it on one thing else, you have to backtest and optimize settings your self, and solely use it if outcomes are promising.
Can I commerce at completely different occasions or open a number of trades per day?No. Buying and selling at different occasions could scale back profitability or end in losses. The EA is designed to open just one commerce per day, and just one place at a time — to take care of threat management.
Why does it solely place Purchase orders?The technique exploits typical worth patterns earlier than the gold market closes, which often present an uptrend or consolidation. In recent times, 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 costs.
What about excessive nighttime spreads?Some brokers improve unfold at market shut/open. Really useful settings:– Trailing Cease: OFF– TP: 26 pointsThis works properly on brokers like XM.
Does the EA use martingale or grid?No. Neither technique is used.Nevertheless, there’s an elective “Restoration Mode” that will increase lot measurement after a loss. It’s absolutely customizable and could be disabled.
Why is the risk-reward ratio low?True, the RR is low, however that is compensated by the excessive win charge (~96%) based on backtests. Lengthy-term outcomes stay worthwhile.
Can I alter SL/TP to enhance RR?Not advisable, as it may possibly hurt efficiency and even trigger losses. For those who insist, ensure to backtest completely earlier than going dwell.
Can I exploit this EA for prop agency challenges?Theoretically sure, however every agency has completely different guidelines. No ensures towards bans, particularly if many customers make use of the identical EA. All the time examine the agency’s circumstances 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 a fantastic selection for operating the EA successfully.
XM
XMGlobal for European Purchasers with buying and selling leverage 1:500
Doo Prime
Moreover, for one of the best EA efficiency, a dependable VPS is essential. Whereas you should utilize MetaTrader’s VPS service, I additionally advocate ForexVPS as a wonderful different. Listed here are some benefits of utilizing ForexVPS:
Low Latency: Ensures quick execution occasions, essential for automated buying and selling. 24/7 Uptime: Your EA runs continuous with out interruptions. Quick Help: Fast response occasions for troubleshooting or setup help. Specialised for Buying and selling: Optimized for operating MetaTrader and different buying and selling platforms.
ForexVPS
That stated, this EA ought to work properly with different brokers too.
Needless to say low spreads, good buyer help, and swap-free accounts are important for maximizing the efficiency of your EA.
