Trading Robots for MetaTrader 5

GapTrader

gaptrader-logo-200x200-1093
200.00 USD

Free updates are included

We Accept:

Limited offer! Save up to 10%

Coupon Code: START10OFF

We guarantee that all our
products are 100% authentic

Information

Experts
MetaTrader 5
5
Panagiotis Kourtesis
13 January 2019
3.1

Overview

Gap Trader Expert Advisor exploits one of the most common phenomena of the Forex market namely the weekend gap, a price difference between the last Friday’s closing price and the coming Monday’s opening one. This price jump is due to the fact that the interbank currency market continues to react on fundamental news during the weekend, opening on Monday at the most liquid level. Weekend Gaps are consistently been filled by the market and therefore fanatically traded by Forex expert traders. Gap Trader using H1 time frame fully automates the execution of the aforementioned strategy by:

  1. Immediately spotting a weekend gap on Monday market opening and betting on its filling. Gap Trader can be used simultaneously in as many currency pairs as the user wants.
  2. Managing all open positions with free-ride opportunity utilization orientation. (Trailing Stop Loss function)
  3. Using the magic number feature to separate between any previous opened non-gap-trading positions and gap-trading ones, with the first being unaffected by the use of Gap Trader expert advisor. Magic number is also used for the distinction between gap-trading positions in different currency pairs.


Strategy Description

On Monday’s market open, if the Friday’s last  H1 candle high (low) is lower (higher) than the Monday’s opening price by more than 10 pips, three short (long) positions, position AB and C, are opened. From now on this price difference will be called gap. All three positions have an initial Stop Loss set at a user specified level, although the default Stop Loss level is set to 100 pips. Position has a Take Profit level that is set one gap distance away from the opening price, TP A =1xgap, position B has a Take Profit level equal to two gaps distance from the opening price, TP B=2xgap, and position C does not have  a Take Profit level. (Picture 1) Once position A is closed, in other words once the first gap distance is reached, position’s B and C Stop Loss is set to the zero loss level (Stop Loss A= Stop Loss B=opening price) and the Trailing Stop Loss Function kicks in starting the free-ride part of the strategy.

Gap Trader will close all positions that are still open by next Monday and whose gap distance has not been filled, letting open all wining bets and their free-riding potential for maximum profits.


Trailing Stop Loss Function

Once the 1xgap is filled the Trailing Stop Loss function will get into action. It starts a free ride position by setting position’s B and C Stop Loss level at the zero losspoint. Should the price move more to your favor it trails the stop loss level upwards for a long position or downwards for a short position maximizing your potential profits. The Trailing Stop Loss distance from the current price is set to a user defined level expressed in pips, with the default level set to 39 pips. (Picture2)


Magic Number Feature

Every Forex pair at the initialization of Gap Trader expert advisor should be given a unique non zero integer magic number value by the user. This number is essential to the function of the expert advisor as it is used on the one hand to distinguish between any non-gap-trading positions that are already open and the gap-trading positions and on the other hand between gap-trading positions on different Forex pairs.


Use of Gap Trader (Video)

In order to use Gap Trader in a Forex pair,  the user has to open the pair’s corresponding chart window in H1 time frame and simply drag and drop Gap Trader icon from the list of expert advisors in the navigate window to that of the forex pair chart.  Once you do that the parameter window will be shown.

 

Description of Input Parameters

  • Lotsize:The bet size can be either an integer or a decimal value. Default value set to 1.
  • Magicnoumber:A unique non zero integer, non negative value for each pair
  • StopLossPips:Initial Stop Loss value expressed in number of pips away from the opening price. Its value should be an integer! Default value set to 100.
  • TraillingStopLossPips:The Stop Loss value that will be used when the Trailing Stop Loss function will be activated. It is expressed in the number of pips away from the current price. It should be an integer! and its default value set to 39. If the gap value is less that the inputted value then Gap Trader will set it equal to the gap value otherwise it will be left unaffected.


7 DAY MONEY BACK GUARANTEE

If for any reason you do not like the purchased program, you can request a refund within 7 days from the date of purchase. You can also make an exchange for any other product at an equal cost or by paying the difference.

Simply send a request for refund or exchange with your order number by email: [email protected].

Refund requests received more than 7 days after purchase will be rejected.

Email Us Now! Support is available 24/7
by Email: [email protected]

Do You Need Help?
Click Here To Start Live Chat

Contact Us

Copyright © 2020 EA-Trade.pro. All rights reserved. Terms and conditions | Privacy policy     We speak your language EN|CN|DE|ES|RU

RISK WARNING: ea-trade.pro is a software reseller, we do not offer investment advice or execute trades. The software we provide is a tool where the settings are input by the end user to design their own trading strategy. Trading forex and CFDs carry a high degree of risk to your capital and it is possible to lose your entire deposit. Only speculate with money you can afford to lose. As with any trading, you should not engage in it unless you understand the nature of the transaction you are entering, and the true extent of your exposure to the risk of loss. These products may not be suitable for all investors, therefore if you do not fully understand the risks involved, please seek independent advice.

Search