one to one coaching

NMi_Momods Night Scalper

momods

Active member
Update May 29, 2013

NMi Momods Night scalper

Dear WWI members,

This EA is a modified and updated version of my well known EA "Momods Night Scalper". It has gone through major changes and developments that is summarized below:

• Higher Profits and less Draw Down
• Trading portfolio revised and balanced via a carefully selected range of Currency Pairs – AUDCAD, AUDNZD, CADCHF, EURAUD, EURCAD, GBPCAD, GBPJPY, GBPUSD, and USDCAD. More pairs to be added soon pursuant to further optimization and testing.
• Revised risk management that takes into account pair profitability, frequency of trades, draw down, and currency pair correlation.
• Continuously Optimized for current market conditions
• Longer trading hours. Select pairs are set to trade outside pre-Asian session. This will diversify trading hours and overcome (partially) the issue of high spreads that might affect/prevent some trades during pre-Asian session.
• Added code that allows the EA to try opening trades even if spreads are high
• Added modified exit strategy that allows the trades to be exited earlier than the previous version.
• Added news filter that will prevent trades from being placed on pairs associated with scheduled news events near or during the trading window.
• Fully automatic detection of your broker’s GMT offset (no more guessing or working it out)
• Automatic daily update of EA settings through NMi Expert Gate server pursuant to ongoing optimization (no need to download or add new setfiles).
• Highly secured version protected by MQLock and other proprietary NMi measures

NMi Expert Gateway is a fairly new model/concept offering developers like me the opportunity to introduce my EA(s) to end users free of charge while being compensated for our work and support directly from brokers through an Introducing Broker (IB) agreement.

In order to be able to use NMi-Momods Night Scalper for free, you’ll first need to register your details to receive a NMI Expert Gateway account, at the following link:



After registration and account confirmation, you can login to your NMi Experts Gateway account via the same URL above, using your email and password.

Once logged in, you can download NMi-Momods Night Scalper EA and the PDF Manual. You also need to register your account number by clicking on "My Accounts" and select "Add Account". Select your broker from the current options (listed below, more brokers being added), enter your live account number and then press submit.

Alpari UK, Armada Markets, Axitrader, FX Open, FX Open AU, FX Pig, IC Markets, LMAX, Pepperstone, Thinkforex, Alpari NZ, and Traders Way.

This will generate an email to the broker requesting the account be linked to the NMi IB, and upon receipt of confirmation, the EA is enabled to trade on the nominated account.

I will be available at the forum, as usual, to address your questions, concerns, and providing continuous support.

We have started a real account that you can monitor at below link:



Best Regards,
Momods



Old Versions:

Momods_Night_Scalper_V3.02


Momods_Night_Scalper_V3.01


Momods_Night_Scalper_V3.0


Momods_Night_Scalper_v2.21


Momods_Night_Scalper_v2.2


Momods_Night_Scalper_v2.1


Momods_Night_Scalper_v2.0


Momods_Night_Scalper_v1.4.1


Momods_Night_Scalper_v1.4


Momods_Night_Scalper_v1.3

 

lucklogic

Member
I can tell you the strategy. Using CCI indicator, buy in oversold area and sell in overbought area.


Here is the EA that I prepared yesterday. Use on M5 or M15. Default settings are for M15. You might need to change CCI entry little bit up or down depending on the pair. Change Start/End hour according to your broker (default hours are in GMT).

Good for EURCAD, EURCHF, GBPCHF, USDCAD, ... and others. Make sure you set the max spread according to your broker. This EA needs low spreads.

Enjoy.
Momods
Thank you, I'll certainly give it a go
 

momods

Active member
thank you momods for your great job
what is the time for forex.com anf hotforex sir
thank you
I don't use those brokers. You need to calculate timing by yourself. Best thing is to do a back test on your broker's terminal and find the best trading hours.
 

momods

Active member
I think it was better to open a separate thread for this EA for future discussion and development. I hope one of the MODs can move related posts to a new thread.
 

momods

Active member
Hello Momods,
can you implementing a Martingale-Option?
Greetings,
Halobungie
Why you want to mess with this EA by adding martingale?

The nice thing in this EA is low draw down. It closes the trade in small loss when trend changes to keep DD low. Actually, it does not need a stop loss. I added stop loss just in case you lost contact with your broker and can't close the trade. Also, Stop loss is useful when there is sudden spike in price.

This EA trades for few selected hours during night when volatility is low. Adding more trades using grid with/without martingale might improve profit, but it will increase trade time, risk and DD.
 

jackal

Member
I can tell you the strategy. Using CCI indicator, buy in oversold area and sell in overbought area.


Here is the EA that I prepared yesterday. Use on M5 or M15. Default settings are for M15. You might need to change CCI entry little bit up or down depending on the pair. Change Start/End hour according to your broker (default hours are in GMT).

Good for EURCAD, EURCHF, GBPCHF, USDCAD, ... and others. Make sure you set the max spread according to your broker. This EA needs low spreads.

Enjoy.
Momods
can this EA be started in live account?
 

momods

Active member
can this EA be started in live account?
Please wait for the release of second improved version. I'm waiting for the MODs to move my EA ( and other related posts) to a separate new thread in order not to interfere with posts related to other EA by virux84.
 
Hi,

i do a second BT with the EURCAD default settings with the momods nightscalper from 2008/09 to now.
I used Duka 99% real spread. The result is okay, but for sure not so good like the first BT. It shows the general problems of nightscalpers too - high spreads, specially on scalping pairs like EURCAD, GBPCAD, USDCAD, GBPCHF.

Thats why i am thinking all the BTs of the 4ier EA are faked with fixed spreads of 1 or 2 on exotic pairs like EURNOK and EURSEK which have spreads of 10 - 20 at days and 25 - xxx at nights ..... i other case: show us forward test`s (not demo account - because i can show you night scalping demo accounts too, they are working fine).

btw: i like the momods version - it don`t need a winning rate of 85% up to be profitable - whats really different to the most other nightscalpers.
 

momods

Active member
(Free EA) Momods Night Scalper

(Free EA) Momods Night Scalper

A new release with major Modifications will be done very soon.

Please check first post.
 

wflux

Member
Here is my back test on EURCAD M15. I used a fixed spread of 5 pips.

Update:

Increasing CCI entry level will result in less trades but a nicer equity curve.
Thank you very much! Do you think it would be profitable with EURUSD too?

Regards
 

momods

Active member
New Improved Version

New Improved Version

Dear Forum Members,

I'm pleased to release a newer version of Momods_Night_Scalper. This version has major changes, modifications and improvements.

- Instead of using CCI, I added WPR which gives more trades and better results. I kept CCI which can be selected from externals. It's better to use either WPR or CCI.

- added Fractals as a filter for opening trades.

- added GMT_Offset parameter for easier control of timing. You don't need to change Start/End hours. Just change GMT_Offset according to your broker.

- I added script to calculate average spread. Orders will be opened when average spread is less than Max Spread. This is very important addition to avoid opening trades at very high spread.

- EA will select Magic number internally (19 major and exotic pairs). You don't need to change Magic number on each chart.

- added take profit to externals. I prefer to keep TakeProfit as it is (40 pips) and allow EA to close trades according to WPR/CCI.

- Added display of EA parameters on chart. Now you can see what's going on.

I will be adding new features/improvements in the days to come.

Disclaimer:

This is a free EA that you can use in your demo or real account without limitation.

Use at Your own risk. I will not accept any liability whatsoever for any loss arising from the use of this EA.


If you like my work, please consider a small donation. PM me for details.
 

Attachments

momods

Active member
... and here is my back test for EURGBP M15. Very good results with very low DD.

I used fixed spread of 3 pips. All parameters were default except MidFractalDist= 8.

I hope someone can complete the back test for the period from August 2012 till today.
 

Attachments

momods

Active member
... and here is my back test for USDCAD M15. Very good results with low DD.

I used fixed spread of 3 pips. All parameters were default except WPR_Exit = 30

I hope someone can complete the back test for the period from December 2011 till today.
 

Attachments

lordorly

Member
... and here is my back test for EURGBP M15. Very good results with very low DD.

I used fixed spread of 3 pips. All parameters were default except MidFractalDist= 8.

I hope someone can complete the back test for the period from August 2012 till today.

Hi,

in BT MidFractalDist= 10
 
one to one coaching
Top