Tioga EA

Tioga EA is a Night Scalper that is completely automated. It is effective on all major currency pairs. Tioga EA 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 Tioga works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.

Tioga EA
Tioga EA

Tioga EA Strategy

The Tioga EA is an automated trading system designed to automate the process of scalping during the night hours. Its primary approach is based on mean reversion, which involves exploiting the end of the US season for potential trading. Tioga EA’s key strength is its focus on small and steady opportunities. Unlike some other systems, it doesn’t use any dangerous strategies like grid, martingale, or averaging.

Tioga EA Strategy
Tioga EA Strategy

The strategy employed by Tioga EA is based on a price mean reversion. This means that the system tries to identify the tendency of prices to return to their average value over time.

To implement this strategy, Tioga EA closely analyses the previous period’s price action. Based on this analysis, the system determines the average value of the price and establishes a threshold for determining when the price has deviated significantly from this value.

When the price exceeds this threshold, Tioga EA will open a Sell order, anticipating that the price will revert to its mean. Conversely, if the price drops below the threshold, the EA will initiate a Buy order, again anticipating that the price will eventually return to its mean.

Night Scalping with Tioga EA

Scalping in forex trading refers to a trading strategy that involves entering and exiting trades quickly, often within seconds or minutes, in order to make small profits on each trade. The goal of scalping is to accumulate many small profits throughout the day.

Night market scalping involves trading during the night when market volatility tends to be lower. This strategy may involve using technical analysis to identify trends or using news events to make quick trades.

To implement night market scalping in forex, traders typically use a combination of technical indicators and chart patterns to identify potential trade setups. They may also monitor news releases or economic data releases to look for opportunities to enter or exit trades. Tioga EA helps save traders the stress of doing the bulk work by automatically scanning the charts for buy and sell opportunities, after which it executes the trades accordingly.

The main method by Tioga EA is to use mean reversion at the end of the US session. The system primarily focuses on little and consistent profits. The EA does not employ grid, martingale, averaging, or other risky tactics. Every position has a fixed stoploss.

Tioga EA Features

  • Tioga EA is set up to trade on the EURUSD M5 timeframe, according to the developer.
  • It offers the option to use a single chart for trading multiple pairs.
  • The system is optimized for trading 11 different pairs, including AUDUSD, CHFJPY, EURAUD, EURCHF, EURGBP, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPUSD, and USDCHF, according to the developer.
  • To use Tioga EA, a minimum account balance of 300 USD is required, according to the developer.
  • Tioga EA can be used with any leverage, although leverage greater than 100 is preferred, as recommended by the developer.

Tioga EA Input Parameters

  • Lot Calculation Type :  Fixed_Lot / Risk_Percentage
  • Fixed Lot : It is active when Fixed_Lot is selected for Lot Calculation Type
  • Risk Percentage (Between 1-100) (Per Pair):  It is active when Risk_Percentage is selected. It shows how many percentage of your equity is in risk per pair.
  • Maximum Lot for all Calculation Types: Maximum Lot can be this number for each pairs
  • OneChart Usage for all pairs : When it is true, only one chart is enough for trading all selected pairs
  • OneChart Pairs: Use comma as seperator and write pairs’ names
  • Pairs Suffix: If the broker uses suffix (Suffix is a letter behind the pair, EURUSDm for example.), just write suffix to here.
  • EURUSDm   >>>  Suffix: m
  • m  >>>  Suffix: .m
  • Broker GMT in Winter : Please check London Time when you attached the EA to the chart.
  • Broker use Daylight Saving Time :  If London time is different, you may also change this input.
  • New Trades: If it is false, new order can’t be opened
  • New Trades – Weekly Market Open: If it is false, new order can’t be opened at Sunday 22:00 – 22:59 GMT
  • New Trades – Weekly Market Close: If it is false, new order can’t be opened at Friday 21:00 – 21:59 GMT
  • New Trades – Christmas and New Year: If it is false, new order can’t be opened between 23 December 00:00 GMT to 3 January 23:59 GMT
  • New Trades – Triple Swap Day: If it is false, new order can’t be opened at Triple Swap Day between 21:00 – 21:59 GMT
  • Spread Filter (0: not used): If spread is higher than this, then new order can’t be opened.
  • Daily Volatility % Filter (0:disabled  1:default) : If the pair reaches 1% volatility in last 24 hours, then position will not be opened only for this pair.
  • GAP Filter (0:disabled):  If there is a GAP in last 3 hours, new position will not be sent.  (in Percentage. Example 1.5 means %1.5 GAP)
  • Permission Filter – Only Sell & Only Buy:  You can write currencies and pairs. (Example: EUR,GBPUSD,CHF,AUDUSD) Please use comma as separator
  • Entry Days and Hours: There are 10 hours in a week for opening new positions. (London Time)
  • Exit Type: Basic or Trailing. You can trade with only one selected “Exit Type”
  • TakeProfit Reducing: Every 5 minutes, Take profit level decreases
  • StopLoss Reducing:  For “Exit Basic”, every new 5 minutes bar, stoploss will be reduced by this value
  • Close All Positions – Drawdown % (0: disabled ): If drawdown reaches to 5% of your balance, then Tioga closes all positions which opened by it
  • Close All Positions – London Hour (-1: disabled): If it is 8, all positions will be closed at 8:00 am (London Time)

Tioga EA Summary

Tioga is a night scalping trading robot which can be utilized by all kinds of traders, although it may be found more interesting particularly by traders who prefer trading during quiet market hours. Overall, the Tioga EA tries to exploit the end of the US season for potential trades and its strategy involves closely analysing previous periods’ price action to determine the average value of the price and establish a threshold for determining when the price has deviated significantly from this value.

However, it’s important to note that there’s no guarantee of success with Tioga EA, and traders should use caution and perform thorough testing before using it in a live account. The system is compatible with all brokers and account types, and it’s recommended to use a demo account to test the EA before using it with real money.

Free Forex Robot