Forex Moon Light Expert Advisor

Forex Moon Light Expert Advisor review:

MoonLightEA is a multicurrency night scalper with a strict stop loss.

EA Features:

  • No martingale, no averaging, no grid
  • 15 currency pairs (AUDCAD, AUDJPY, CADCHF, CADJPY, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD, GBPCAD, GBPCHF, GBPJPY, USDCAD, USDCHF, USDJPY)
  • Minimum deposit – 100$
  • Minimum lot – 0.01
  • Minimum leverage – 1:100
  • Timeframe M15
  • Recommended types of accounts – ECN and NDD (standard and cent accounts not recommended)
  • News filter (required indicator ffcal.ex4)
  • Working time – 5 nights per week, starting with a night on Monday and finish on Friday night
  • EA does not require optimization
Caution! To work correctly, you must set the right EA GMT-offset (TimeShift in the EA SETUP) in accordance with GMT-offset of your broker. Offset is changed 2 times per year (summer and winter time).

Brief description of the EA:

Each currency pair opens its own order, which does not depend on orders for other pairs. Orders are opened based on the current spread and signal of EA. Accordingly, depending on the broker and the conditions provided, deals may differ from our official monitoring.

Caution! At bank holidays we recommend to stop the EA, since high volatility is possible. To monitor these events use economic calendars.

Test results:

Forex Moon Light Expert Advisor

Parameters:

  • OrdersComment – EA comment
  • MagicKey – the number to calculate Magic using number generator. When you run the EA on several different pairs, magic number will be assigned automatically for orders of each pair.
  • TimeShift – trading time shift on the broker’s server with respect to GMT.
  • FixLots – traded lot size for a fixed lot.
  • AutoMM – calculation of traded lot in the AutoMM lot. Recommended value is in the range of 3-5.
  • Manual_SL_TP – false/true. The manual installation of SL and TP levels (if these parameters are changed, results similar to official monitoring can not be guaranteed, since it uses the default values).
  • Manual_TakeProfit – manually setting the level of TP.
  • Manual_StopLoss – manually setting the level of SL.
  • MaxSpread – the maximum allowed spread. The default value is 0.0, which means that the EA uses spread settings from the code for each currency pair. See the maximum allowed spread in the EA info window (upper left corner of the chart).
  • Slippage – Slippage.
  • Use_NewsFilter – false/true. Use of the news filter. The news filter takes news from this site – forexfactory.com/calendar.php and stops the EA during important news releases.

Download our other Free Forex Robots For Metatrader 4

Installation

Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

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