Forex Spot Light Expert Advisor

Forex Spot Light Expert Advisor review:

This is a multi-strategy EA. In the night scalping mode, the filters filter a trend-free range market environment and trades are placed in the opposite direction at the edges of the range. With an additional main trend filter in the trend-following mode, you can also trade pull-backs during trends on the day.

Test results:

Forex Spot Light Expert Advisor

Parameters:

  • UseDrawDown if true then drawdown mode is active
  • MaxAllowedDrawDown close all trades if drawdown more then x %
  • Trading Hour Start EA operation start hour
  • Trading Minute Start EA operation start minute
  • Trading Hour End EA operation end hour
  • Trading Minute End EA operation end minute
  • Use Close Time Mode if true then close time mode will be taken into account in trading
  • Close Hour hour, in which the EA closes open trades
  • Close Minute minute, in which the EA closes open trades
  • Allowed Spread max allowed spread
  • Slippage max allowed slippage
  • Use LotMultiplier true means trading with martingale feature
  • LotMultiplier factor for determining how much the lot size should be increased
  • Use Money Management true means trading with automatic lot size calculation
  • fixed LotSize if Money Management is false then trade with this fixed lot size
  • Risk automatic lot size calculation
  • max Lotsize max allowed lot size per trade
  • Magic Number buy magic number buy trade
  • Magic Number sell magic number sell trade
  • Order Comment set your trade comment
  • UseGridFilter if true then GridLevel mode is active
  • GridLevel distance between following trades in points
  • Use Swap Filter if true then the swap will be taken into account
  • Minimum Swap choose minimum swap value
  • YMinutesRange amount of time in minutes to midnight, in which the swap should be taken into account
  • Trend Filter Period M5/M15/H1 period trend filter timeframe M5/M15/H1
  • RSI Filter Period period RSI indicator
  • Indicator Buy Value min RSI value to open buy trades
  • Indicator Sell Value max RSI value to open sell trades
  • Vola Filter Period period volatility filter
  • Vola Filter min min allowed value volatility filter
  • Vola Filter max max allowed value volatility filter
  • Bandwidth Filter min min allowed value bandwidth filter
  • Bandwidth Filter max max allowed value bandwidth filter
  • Use Maintrend Filter if true then both main trend filters are active
  • Maintrend Period fast fast period of the first main trend filter
  • Maintrend Period slow slow period of the first main trend filter
  • Maintrend Filter Period period of the second main trend filter
  • Maintrend Filter min min allowed value of the second main trend filter
  • MaxOpenTrades max allowed number of buy or sell trades
  • TradesFrequencyMins time interval in minutes between opening trades
  • Use virtual TP an SL true means in addition to the existing fixed TP and SL value per trade, a common virtual TP and SL value is determined for all open trades
  • virtual SL value virtual Stop Loss in points
  • virtual TP value virtual Take Profit in points
  • TP Factor factor to determine the Take Profit and depends from vola filter
  • SL Factor factor to determine the Stop Loss and depends from vola filter
  • TP min in Points min Take Profit in points
  • TP max in Points max Take Profit in points
  • SL max in Points max Stop Loss in points
  • Use Safe Mode false means trading without safe mode indicator
  • Safe Mode Indicator Period safe mode indicator period
  • MondayAM true if true then trading Monday AM
  • MondayAMStartTime start time trading Monday AM
  • MondayAMEndTime end time trading Monday AM
  • MondayPM if true then trading Monday PM
  • MondayPMStartTime start time trading Monday PM
  • MondayPMEndTime end time trading Monday PM

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)

Other forex indicators and strategies

Leave a Comment