The Night Scalper EA Lite is a fully automated Expert Advisor that trades at night and relies on price reversion. The EA trades using market orders and has the option to use time averaging to improve performance. This EA works best on EURUSD using the M5 timeframe, but will also work on AUDUSD, GBPUSD, NZDUSD, USDCAD, USDCHF and likely many more. A VPS is advisable when trading this system and a low spread and commission based broker is best. Check the comments for back test results and optimized settings.

This is a lite version of the Night Scalper EA - https://www.mql5.com/en/market/product/34215

Forward testing signals - https://www.mql5.com/en/signals/author/robots4forex

Features

• No Money Management
• Lot size limited to 0.1
• Fully automated
• High win rate aggressive scalping
• Always a stop loss in place
• This system is NFA/FIFO compliant
• All you need is a VPS

Input Settings

Order Settings

• MagicOrderNumber - Unique number for the EA to identify its trades. Any integer.
• Lots - Number of fixed lots per trade if money management is off. Values from 0.01 to 50.0.
• Slippage - Slippage in pips. Values from 1 to 10.
• AllowNewTrades - Turn this of to disable new trades, true/false.
• PositionComment- Allows you to set the position comment.

Entry Settings

• Timeframe - Timeframe drop-down selection to lock EA to a timeframe so that selection of the chart timeframe doesn't affect the EA. When testing ensure the tester timeframe is set to the same value.
• CloseTimeframe - Timeframe to use when looking to close positions.
  
• MaxSpread - Maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.
• TakeProfit - The take profit (Setting to 0 disables). Values from 0 to 100 depending on the pair being traded.
• StopLoss - The fixed stop loss visible to the broker - Values 25 to 200 depending on the pair being traded.
• GMTOffsetHours - Offset in hours for your broker's time zone - Values -12 to 12.
• StartCandleHour - Start bar hour - Values 0 to 24.
• EndCandleHour - End bar hour - Values 0 to 24.
• RSIPeriod - The RSI period used as entry signal - Values 1 to 40.
• RSIThreshold - The RSI threshold used as entry signal (Setting to 0 disables) - Values 0 to 40.
• RSIThresholdBuy - The RSI threshold used as entry buy signal (Setting to 0 disables) - Values 0 to 40.
• RSIThresholdSell - The RSI threshold used as entry sell signal (Setting to 0 disables) - Values 0 to 40.
• RSIClosePeriod - The RSI period used as close signal - Values 1 to 40.
• RSICloseThreshold - The RSI threshold used as close signal (Setting to 0 disables) - Values 0 to 40.
• RSICloseThreshold2 - The RSI upper threshold used as close signal (Setting to 0 disables) - Values 0 to 40.
• TakeProfitReductionMins - The reduction of TP in minutes - Values 0 to 1000.
• TakeProfitMin - The minimum TP for reduced TP over time - Values 0 to 10.
• ClosePositionsFriday - If enabled open positions are closed on Friday at the set time, true/false.
• ClosePositionsFridayLastHour - The hour to close positions on Friday - Values 0 to 24.
• ClosePositionsFridayMinutes- The minute to close positions on Friday - Values 0 to 59.

Optimization & Defaults

Default input values are for EURUSD M5. If optimizing, optimization of RSIPeriod, RSIThreshold, RSIClosePeriod and StopLoss are needed to find the best results.