Starlight MT5

Overview of Starlight MT5

• Starlight MT5 is an advanced night scalping expert advisor designed specifically for MetaTrader 5.
• It utilizes a unique approach to the entry algorithm, distinguishing itself from other night scalpers.
• Developed with years of trading experience implementing the mean-reverse strategy, it focuses on the most optimal pairs, offering a low-risk profile. 🌙

Key Features

• News Filter: Prevents trading during high-impact news events to minimize risk exposure.
• OneChartSetup: Allows running multiple currency pairs from a single chart, simplifying setup.
• Individual Performance Monitor: Adjusts risk exposure dynamically based on the performance of each pair.
• Correlation Filter: Reduces exposure to similar currencies, minimizing risk during volatile periods.
• Swap and Rollover Filters: Avoids trading during days with high swap costs or significant slippage risks.
• Achieves low drawdowns compared to many other scalping solutions. 💡

Recommended Currency Pairs

• EURUSD
• GBPUSD
• AUDCAD
• EURAUD
• GBPCAD
• USDCAD
• EURGBP
• USDCHF
• GBPCHF
• CHFJPY

Setting Up Starlight MT5

• Ensure to attach the EA to a EURUSD M5 chart, adjusting for broker suffixes if necessary.
• Set the OneChartSetup parameter to true for optimal performance.
• Configure the lot size based on your desired risk, following guidance in the associated manual.
• A decent ECN broker is highly recommended for effective night scalping. 💰

User Reviews and Performance

• Users report that while it does not always guarantee profitability, it maintains very controlled drawdown levels throughout trading.
• Many users appreciate the developer's support and the responsive nature of updates, ensuring the EA stays competitive.
• It is often recommended to include Starlight MT5 in a diversified EA portfolio due to its stable performance.