Night Hawk EA

During the Asian session, the Night Hawk EA trades using the CCI and Bollinger Bands indicators. If the price moves in an unfavorable direction, an order grid with a dynamic step is placed based on the indicator values. The EA has a breakeven function and four exit filters.

The Night Hawk Expert Advisor can be purchased from the MQL marketplace whilst there is a free demo version also available to give it a try before making any commitment. In this article, I will be taking a look at how the Night Hawk EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.

Benefits of Trading During Asian Session

Trading during the Asian session can offer several benefits to forex traders, including:

  1. High liquidity: The Asian session is the second most active forex trading session, after the European session. This means that there is a high level of trading activity and a large number of buyers and sellers in the market, which can increase liquidity and make it easier to execute trades.
  2. Volatility: Although the Asian session tends to be less volatile than other trading sessions, there are still opportunities for traders to profit from price movements. This is especially true for currency pairs that involve the Japanese yen, as the Bank of Japan often announces important economic policy decisions during the Asian session.
  3. News events: Economic news releases and announcements from central banks in Asia can have a significant impact on currency prices, providing traders with opportunities to take advantage of market movements.
  4. Overlap with other sessions: The Asian session overlaps with both the European and US sessions, which can increase trading activity and volatility during certain hours. This can create opportunities for traders to enter and exit trades at favorable prices.
Night Hawk EA
Night Hawk EA

Night Hawk EA Settings

  • Set Name– name of the set file.
  • Lot– fixed lot size for the EA to open orders.
  • DepoPer001Lot– automatic lot size as the specified deposit amount per 0.01 lot.
  • Take Profit– fixed take profit value in points.
  • Dynamic TP: Channel Percent– TP calculated as the specified percentage of the current channel width of the BB indicator.
  • Dynamic TP: Min Size– the minimum take profit value when using ‘Dynamic TP: Channel Percent’, in points.
  • TP: Include Swap and Comission – consider all profit to summ Take Profit
  • StopOpenNewOrders – pause to open new orders
  • Max Spread– the maximum allowable spread in points (for Buy and Sell apart)
  • ExitDDPercent– drawdown percentage to force close all orders
  • StopByMaxDD– DD % at which the EA is not allowed to open new grids
  • StopByMaxSymbolTrades– the maximum number of trading pairs allowed in the market at a time
  • StopEqualCurrencyTrade– check the unidirectional trading pairs in the market and prohibit entries on them.
  • BB: Period– period of the Bollinger Bands indicator.
  • BB: Deviation– deviation of the BB indicator.
  • BB: Delta– indent of the BB indicator from the boundaries (can be in both direction), in points.
  • BB: Min Channel Width– the minimum width of the BB channel at which the EA is allowed to trade, in points.
  • CCI: Period– period of the Commodity Channel Index indicator. If 0, the indicator signal is ignored.
  • CCI: Level– level of the CCI indicator. Calculated for the opposite signs. That is, at ‘CCI: Level = 100’ the levels 100 and -100 will be used.
  • UseMaxCandleForAllOrders– use the maximum candle size filter for all orders of the grid. If False, it is used only for the first order.
  • Max Candle Size– the maximum sum of the last N candles’ lengths (from High to Low), above which the EA will not open new orders.
  • Bars For Analyze– the number of recent candles on the chart to analyze the candle sizes.
  • ATR Period for Distance– ATR period for calculating the minimum allowable distance between grid orders.
  • ATR Multiplier– multiplier for the ATR value.
  • Multiplier 3 level– lot multiplier, used only for the third level of the grid. The second level is always opened with the initial lot size.
  • Multiplier > 3 level– lot multiplier for the grid, starting from the fourth level.
  • TPDecreasePercent– reduce the TP of the grid by the specified percentage every time a new grid level is opened.
  • BE Level– number of level to move the grid TP to breakeven.
  • Averaging Level– number of the level at which the lot multiplication stops and the lot size is set equal to the last used value.
  • Exit Profit Percent– percentage of take profit, at which the four filters for exiting positions start working.
  • Exit BB Filter: Out Channel Distance– distance from the opposite channel boundary of the BB indicator in points, at which the closure will occur.
  • Exit CCI Filter: Period– period of the CCI indicator to force close the position when an opposite indicator signal appears.
  • Exit MA Filter: Period– a position is closed when the Moving Average with this period changes direction.
  • Exit Time Filter: Minutes– the number of minutes since last order, after which profitable positions are closed.
  • GMT Offset– time offset of the broker server from GMT.
  • Start Trade Hour/Start Trade Minute– hour and minutes to start trading.
  • End Trade Hour/End Trade Minute– hour and minutes to to stop trading.
  • Rollover Filter– if true, activates the filter.
  • Start Rollover Hour/Start Rollover Minute– hour and minutes for start rollover pause filter.
  • End Rollover Hour/End Rollover Minute– hour and minutes for stop rollover pause filter.
  • Settings for graphic and text display

Conclusion

The Night Hawk EA is a trading robot which automatically executes trades during Asian trading session. It employs CCI and Bollinger Bands indicators in its trading strategy. Traders may want to ensure to test the free demo version of the Night Hawk EA on their demo accounts first before involving real money.

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