🧩 Overview of Dark Nova MT5
Dark Nova is a grid-based automated trading Expert Advisor (EA) for MetaTrader 5 (MT5), combining Bollinger Bands, Moving Averages, ADX, RSI, and Extreme Point logic with smart entry timing and risk-managed grid trading.
The settings indicate that Dark Nova is designed for:
- High-frequency intraday trading.
- Trend + mean-reversion strategies.
- Controlled grid expansion.
- Strict spread and risk filters.
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🧩 General Trading Configuration
| Parameter | Value | Explanation |
|---|---|---|
| Allow Buy | true | Enables long (buy) trades |
| Allow Sell | true | Enables short (sell) trades |
| Max Number of Orders | 100 | Caps total open orders to control risk |
| Max One Trade Any Bar | true | Prevents overtrading within the same candle |
| Order Timeframe | 15 Minutes | EA logic is calculated on M15 |
| FIFO Mode | false | Allows hedging (non-FIFO brokers) |
| Buy & Sell Same Time | true | Enables hedging (buy and sell simultaneously) |
| Magic Number | 9105 | Unique ID to isolate EA trades |
| Max Spread | 100 | Hard spread filter |
| Max Average Spread | 100 | Prevents trading during unstable spreads |
✅ Assessment: This setup is suitable for hedging brokers, aggressive intraday strategies, and volatile pairs.
🧩 Risk & Money Management
| Parameter | Value | Explanation |
|---|---|---|
| Lots | 0.01 | Base fixed lot size |
| Money Management | true | Dynamic lot sizing enabled |
| Risk Factor | 5.0 | Aggressive risk multiplier |
⚠️ Risk Note: A Risk Factor of 5.0 is considered high. This setting increases exposure during grid expansion and should be used only on accounts with sufficient balance.
🧩 Bollinger Bands Strategy
| Parameter | Value | Explanation |
|---|---|---|
| Enable Bollinger Bands | true | Core trading indicator |
| Strategy Mode | Sell Above & Buy Below | Mean-reversion logic |
| Signal Moment | Bar Close Price | Confirms signals at candle close |
| Period | 35 | Smooth BB calculation |
| Deviation | 2.0 | Standard volatility range |
| Price Type | Close Price | Reliable for confirmation |
| Timeframe | 15 Minutes | Matches EA logic timeframe |
✅ Assessment: This configuration favors range trading and performs best in sideways or slow-trend markets.
🧩 Extreme Point Filter (High/Low Logic)
| Parameter | Value | Explanation |
|---|---|---|
| Enable Extreme Point | true | Detects local highs/lows |
| Lookback Bars | 35 | Recent structure confirmation |
| Timeframe | 15 Minutes | Consistent with BB logic |
🎯 Purpose: Avoids entering trades at random levels by confirming market exhaustion zones.
🧩 Smart Entry & Moving Average Filter
Smart Entry Timing
| Parameter | Value |
|---|---|
| Nova Smart Entry Timing | true |
✔ Improves entry precision by filtering low-quality signals.
Moving Average Settings
| Parameter | Value | Explanation |
|---|---|---|
| Enable MA | true | Trend filter |
| Fast MA | 10 | Short-term trend |
| Slow MA | 90 | Long-term trend |
| MA Method | Simple | SMA |
| MA Price | Close Price | Stable signal |
| MA Timeframe | 15 Minutes | Matches core logic |
📈 Assessment: Helps align grid entries with market bias, reducing drawdown.
🧩 ADX Trend Strength Filter
| Parameter | Value | Explanation |
|---|---|---|
| Enable ADX | true | Trend strength filter |
| ADX Period | 9 | Short reaction |
| ADX Limit | 65 | Strong trend threshold |
| Reverse Rules | true | Allows contrarian logic |
| Timeframe | 15 Minutes | Consistent logic |
⚠️ Important: ADX > 65 indicates very strong trends — risky for grid systems. Reverse logic attempts to fade extremes.
🧩 RSI Confirmation Filter
| Parameter | Value | Explanation |
|---|---|---|
| Enable RSI | true | Momentum filter |
| RSI Period | 20 | Balanced sensitivity |
| Upper Level | 65 | Overbought |
| Lower Level | 35 | Oversold |
| Reverse Rules | false | Classic RSI behavior |
| Timeframe | 15 Minutes | Standard |
✅ Assessment: Supports Bollinger Bands by confirming overbought / oversold conditions.
🧩 Trading Time & Day Filters
Trading Hours
| Parameter | Value |
|---|---|
| Time Filter | false |
| Close Outside Trading Hours | false |
➡ EA trades 24/7 based on broker server time.
Trading Days
| Day | Enabled |
|---|---|
| Monday – Sunday | true |
⚠️ Risk Alert: Weekend trading (Sunday) may expose the EA to low liquidity & spread spikes.
🧩 Grid Trading Settings
| Parameter | Value | Explanation |
|---|---|---|
| Enable Grid | true | Core strategy |
| Grid Comply Spread | true | Spread safety |
| Grid Comply Indicators | false | Grid ignores indicator filters |
| Grid Management | Lots Sum | Cumulative lot sizing |
| Multiplier | 1.0 | No martingale |
| Distance | 350 points | Grid spacing |
| Max 1 Grid/Bar | true | Prevents stacking |
| Grid Timeframe | 15 Minutes | Stable execution |
🛡 Strength:
No martingale multiplier → lower risk grid.
🧩 Take Profit & Stop Loss Settings
Take Profit
| Parameter | Value |
|---|---|
| Take Target | 100 |
| Close on Open Price | true |
| Close Only End of Bar | true |
Stop Loss
| Parameter | Value |
|---|---|
| Monetary Stop Loss | true |
| Stop Loss Amount | 1000 (account currency) |
| Multiply by Lot Size | true |
| Stop EA After Loss | false |
⚠️ Important: Using monetary stop loss protects the account from catastrophic grid drawdowns.
🧩 Trade Closing & Interface
| Parameter | Value |
|---|---|
| Close Friday Night | false |
| Forced Close Friday | false |
| Custom Chart Label | Dark Nova |
| Show Panel | true |
| Alerts | true |
| Netting Account Trading | false |
🧩 Final Verdict: Is Dark Nova MT5 Worth Using?
Pros
✔ Multi-indicator confirmation
✔ Non-martingale grid system
✔ Strong risk controls (spread, SL, max orders)
✔ Smart entry timing & trend filters
Cons
⚠ Aggressive Risk Factor (5.0)
⚠ Trades all days & hours by default
⚠ Grid trading still vulnerable in strong trends
⭐ Best Use Case Recommendation
Dark Nova MT5 is best suited for:
- Experienced traders
- Medium to large accounts
- Range or semi-trending markets
- Forex pairs with stable spreads (EURUSD, GBPUSD, USDJPY)
🔧 Tip: Reduce Risk Factor, disable Sunday trading, and test on demo or cent accounts before live deployment.