Slow But Steady
The original site that I used for Gap Trading
Here is the link that explains more about Gap Trading for any who are interested.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I wrote an EA that makes HUGE profit on back testing, but it only works up to 2008. After that it drops drastically, and if I run it live in the current market, it also loses.
So I then wrote a second EA that works after 2008, but it doesn't make much profit, but it also tends to be stable and profits on live trade too, but very slow profit. (6 months to increase 50%)
I then combined the two and placed a swap mode that when the first one hit the downhill, the second kicks in, and if the second starts losing, then the first swaps back in.
They tend to different style of trading, and it works well on EurUsd and ok on AudUsd, but it fails on all other currencies.
It works best in 1 minute mode.
The first one I am not going to give any details about, since I am trying to refine it that it works with even 20% efficiency compared to before 2008.
The second one I have attached and anyone who wants to can adjust/comment/alter and use it if they wish.
It is loosely based on the PIT Futures Close Price (at 20:00) which the Forex Market tends towards the same.
In other words, if Futures closes at 1.141 and Forex on opening (23:00) opens 20 or more pips above, within the next 4 to 5 hours, the price 80% of the time reaches 1.141. same if it was below.
I will try to refind the post I found this info on and you can see it in more detail.
So by putting in a buy or sell with the futures close price as the TP, it tends to get there far more often than not.
The reason why it is low profit, is because it only trades once per day.
I tried the same at different times of the day, I also tried three trades per day (one every 8 hours) also at 'peak' hours and randomly guessed hours.
The only one that worked was the 20:00 23:00.
If you run the EA and it does not work at all, you need to check the time of the broker that you are using. I used MIG for the testing, and they are in Switzerland, so the hours displayed on the charts is Switzerlands hours.
Strangely enough, the original post I read about this was speaking of 23:00 EST which did not work at all. Yet 23:00 Switzerland time did! How it figures I can't say. (The trade takes place at or near 23:00 set to the Close of 20:00 for TP)
Let me know what you think, and if it can be improved it would be a useful EA.
BlueMental
ps. I am new to MQL, so my coding is pretty sloppy. It does the trick though