- July 1, 2024
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Introduction NocturnaX AI EA
In the fast-paced world of forex trading, having the right tools can make a significant difference in trading outcomes. NocturnaX AI is one of the most advanced night scalpers available in the market today. Developed through years of live trading experience with a mean-reverse strategy, this Expert Advisor (EA) promises effective and smart features that set it apart from its competitors. This article provides an in-depth review of NocturnaX AI, covering its key features, advantages, disadvantages, and how to set it up for optimal performance.
Technical Specifications
Version: 1.1
Year of issue: 2024
Working pairs: ANY
- Recommended pairs: EURAUD;GBPCHF;GBPAUD;AUDUSD;AUDCAD
- Secondary pairs: EURUSD; GBPUSD;USDCHF;GBPAUD;GBPCAD;AUDJPY;USDCAD; EURCAD;EURCHF;EURGBP;
Recommended timeframe: M5
Minimum Deposit: $1000
Average of account: 1:30 To 1:500
Best Brokers List
NocturnaX AI EA works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
NocturnaX AI Settings
Parameter list:
- ShowInfoPanel: enable the information panel on the chart
- Adjustment for InfoPanel size: for 4K screens, use value "2" to correctly display infopanel
- Update infopanel during testing: disabled will run backtests faster
- comment: comment of the trades
- Magicnumber: the magicnumber used by the NocturnaX AI EA. this can be the same for all pairs
- OneChartSetup: enable the OneChartSetup (run all optimized pairs from 1 single chart)
- OneChartSetup_Pairs: pairs to run (only optimized pairs can be used here). Currently, the NocturnaX AI EAruns best on these pairs on these pairs: EURAUD;EURCAD;EURCHF;GBPCHF;AUDUSD;AUDCAD;EURGBP;GBPAUD;
TRADING TIMES:
- Time to Start: Time to start the trading session, based on GMT+2 (winter and US DST), assuming rollover at 0:00. And this is brokertime (marketwatch window)
- Time to Stop: Time to stop the trading session, based on GMT+2 (winter and US DST), assuming rollover at 0:00. And this is brokertime (marketwatch window)
- Allow Trades on Friday evening: Allow the NocturnaX AI EAto open trades on friday evening right before the weekend
- Allow Trades on Weekly Market open: when enabled, the EA will also trade the first hour when market opens after the weekend.
- Skip trading on US holidays: this will disable the EA on US holidays, which are low in liquidity and best to avoid for night scalping
ENTRY SETTINGS:
- Max spread allowed before settings trade: the maximum spread allowed before entering a trade
- spread at which pending orders are deleted: self explanatory
- Maximum number of correlated trades (0=disabled)): Here you can limit the occurance of correated pairs trading in the same direction. For example: Buy EURUSD and Buy EURCAD are correlated on EUR. But Buy EURUSD, and Sell USDCHF are also correlated on USD. A good value for this parameter is "3".
- Trade at Weekly Market open:
- Use Market Orders for Entry: by default the NocturnaX AI EAwill use "Limitorders", but some brokers don't like the multiple opening and modification of pending orders. You can use this option if your broker starts giving your warnings about that.
- Force Marketorder if limitorder is out of range: this will set an immediate marketorder, if the limitorder can not be place because it is higher than the buy price, or lower than the sell price
SL/TP SETTINGS:
- SetSLTP_AfterEntry: this will make the EA wait until the trade is in the market, before setting SL and TP. This might prevent strange SL/TP on trades that have big slippage
- Add X pips to TP level: It will a X pips to the default TP levels
SWAP FILTER:
- Skip trading on Triple Swap: this will disable trading before the triple swap (usually wednesday night). I personally don't use this option
- TripleSwap day: here you can override the Automatic detection of TripleSwap Day
- Maximum SwapCost allowed (in points): (value "0" means disabled). Here you can set a value of the maximum swapcost (in points, for example "-5") that you want to allow before setting a trade.
NEWS FILTER:
- Enable News Filter: set to "true" to use the news filter
- FilterHighRisk: filter out high impact news
- FilterMediumRisk: filter out medium impact news
- FilterLowRisk: filter out low impact news
- FilterAUDonJPYnews: filter trades on AUD pairs when JPY has news coming out
- HoursBeforeTradingSession: check news X hours before the trading session starts
- HoursAfterTradingSession: check news X hours after the trading session has ended
LOTSIZE SETTINGS:
- Autolotsmode: here you can choose if you want to use a fixed lotsize (StartLots), or use the LotsizeStep, or use the Risk Per Trade (LotsizeStep is recommended)
- StartLots: the lotsize used for fixed lotsize
- Risk Per Trade: the risk per trade in %. Lotsize will then be based on SL of the pair and the risk chosen
- LotsizeStep: the EA will use X lots per Y balance. for example: LotsizeStep=100 means the NocturnaX AI EAwill use 0.01lots per 100 of balance. so on 500 balance, it will be 0.05lots. Keep in mind that these values need to be adjusted to your base currency! So when running on JPY account, you can not use value 100, since that would be much too high in lotsize!
- OnlyUp: this will force the NocturnaX AI EAto only increase lotsize after profits, but not reduce lotsize after losses (for faster recovery). Example: if you use LotsizeStep=100, the EA will use 0.01lots per 100 of balance. so if you balance is 500, it will use 0.05 lots. It the balance grows to 1000, the lotsize is 0.1lots. If balance then declines back to 700, the lotsize will remain 0.1lots if OnlyUp is true
- Balance selection for Autolotsize Calculations: here you can choose if the NocturnaX AI EAshould use Balance or Equity for automatic lotsize calculations
- Split up trade into X smaller trades: with this option, you can force the NocturnaX AI EAto set multiple smaller trades instead of 1 big trade. This might help with slippage issue when trading big lotsizes.
- Split up trades based on max Lotize Y: here you can set the maximum lotsize per single trade. If the lotsize will be bigger, the EA will split up the trade into multiple part. This is to improve execution of big lotsize trades
How to Set Up for Live Trading
- Add URLs to MT4/MT5 Settings:
- Navigate to Tools -> Options -> Expert Advisors -> Allowed URLs.
- Add the following URLs:
Key Features of NocturnaX AI
1. OneChartSetup
NocturnaX AI allows traders to manage multiple currency pairs from a single chart, simplifying the trading process and saving valuable screen space.
2. Individual Performance Monitor
This feature automatically adjusts the risk for each pair based on its performance. If a pair is underperforming, its risk is reduced, and conversely, if it becomes profitable again, the risk is increased.
3. Strict Trade and Risk Management
The NocturnaX AI EA employs rigorous trade and risk management protocols, ensuring that risky trading techniques such as martingale, grids, or trades with wide stop losses are not used.
4. Proven Live Account Track Record
NocturnaX AI has a proven track record of live account performance, running successfully for over a year without manipulated backtests.
5. News Filter
The news filter prevents trading during high-impact news events, reducing the risk of large, unexpected market movements.
6. Correlation Filter
This feature helps to prevent excessive exposure to the same currencies by filtering out correlated pairs.
7. Swap and Rollover Filters
These filters prevent trading during high swap-cost days and periods that might experience significant slippage during rollovers.
Review NocturnaX AI EA Resulst
Advantages of NocturnaX AI
- Efficiency: Manages multiple pairs from a single chart.
- Adaptability: Automatically adjusts risk based on individual pair performance.
- Safety: Does not employ risky trading techniques.
- Proven Performance: Demonstrates reliable live account performance.
- Risk Management: Incorporates advanced filters to manage trading risks effectively.
Disadvantages of NocturnaX AI
- Complex Setup: Initial setup can be complicated for novice traders.
- Broker Dependence: Requires a decent ECN broker for optimal performance.
- Market Conditions: Performance can be affected by extreme market conditions or unexpected events.
Conclusion
NocturnaX AI stands out as a sophisticated night scalper with a comprehensive set of features designed to maximize trading efficiency and safety. Its unique OneChartSetup, individual performance monitoring, and strict risk management protocols make it a powerful tool for both novice and experienced traders. However, its complexity and dependence on specific broker conditions might pose challenges for some users. Overall, NocturnaX AI is a robust and reliable EA that has proven its worth in live trading environments.
Download NocturnaX AI EA
Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.
Final Thoughts
While NocturnaX AI offers many advantages, it is important to thoroughly backtest and understand its features before using it in live trading. By doing so, traders can ensure they are well-prepared to leverage the full potential of this advanced night scalper.
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