• Overview
  • Reviews
  • Comments (4)

Mad Gap EA

Recommendations

  • Recommended currency pairs:  USDJPY, USDCHF, EURUSD, EURCHF. The following symbols are also acceptable: GBPUSD, EURJPY, EURAUD, CHFJPY
  • Time frame: М30
  • Trading hours: Primarily trading in the late night hours from Sunday to Monday (at the market opening after holidays and weekends)
  • Recommended brokers: Any 5-digit brokers
  • Minimum deposit: from $300


Description:

The Expert Advisor trading gaps. What is a gap and how can you use it? Sometimes, the market may experience significant price changes that occur at the market opening after weekends or holidays and form "gaps". A gap is a difference between the Friday's close and the market's opening price on Monday, whereby the opening price appears to be noticeably higher or lower than the closing price, which can clearly be seen in the chart. Gaps, as a rule, tend to close. This is where this Expert Advisor takes advantage of the situation for trading.

It tracks gaps of a certain length and enters the market at the gap closure.

Three Take Profit setting options:

  1. At the gap closure level
  2. Fixed, set in parameters
  3. By high/low

Three Stop Loss setting options:

  1. Fixed
  2. By high/low
  3. As percent of Take Profit

The Expert Advisor has four built-in Trailing Stop options: standard with a set step, based on fractals on the user-defined time frame, based on shadows of the specified number of candlesticks on a user-defined time frame and based on the indicator that measures current volatility - ATR.

There are three Money Management options: fixed lot size, fixed percent of the deposit (with risk allocation, i.e. you can set a certain percent of risk on the initial deposit and on the profit) and fixed faction of the deposit. All values are set in points. The Expert Advisor features a function that allows you to open/close orders using several attempts if the first one was not successful.

We, traders, seek to get the maximum profit from any trading opportunity. Gap trading is one them. The Expert Advisor is not a source of super profits and executes only one trade every 1-2 months for one currency pair. Yet it is a must-have addition to your portfolio of other long-term EAs.

It can work with both 5-digit and 4-digit brokers. In addition, it supports trading on ECN accounts. There is a function that allows to hide Stop Loss and Take Profit order levels. The minimum recommended deposit for proper performance of the Expert Advisor is $300 (not including other EAs trading on the account). Risk in sets are adjusted to the maximum historical drawdown of no more than 15%.

The Expert Advisor uses explicit control of the bar closing, so the testing quality does not have a significant influence on the results.

Furthermore, there is an information module that covers log messages, comments to the terminal journal, information displayed on the chart, screenshots of market entries, push notifications and emails, as well as alerts and sound notifications.

There are 6 .set files, one for each currency pair. Optionally, the money management settings can be optimized to reduce drawdown or increase the risk.


Settings:

  • Magic – magic number
  • Slippage – maximum slippage
  • MinGapLength – minimum gap length
  • HappyNYFilter – New Year filter (0-disabled, 1-enabled)
  • Prefix – prefix of the working pair (if any)
  • Suffix – suffix of the working pair (if any)
  • NumberOfTries – number of attempts for opening/closing an order
  • ECNAccount – ECN account support (true – ECN-account, false – regular account)
  • HideSL – true – hide SL, false – show SL
  • HideTP – true – hide TP, false – show TP

TP Settings:

  • TakeProfitVariant – TP setting option: 1-original, 2-fixed, 3-by high/low
  • FixTP – fixed TP
  • TFForTP – time frame for identification of high/low
  • BarsForTP – number of candlesticks used to identify high/low
  • DeltaForTPHL – offset from high/low for purposes of setting TP

SL Settings:

  • MaxSL – maximum allowable SL
  • MinSL – minimum allowable SL
  • StopLossVariant – SL setting option: 1- fixed, 2-by high/low, 3-as % of TP
  • FixSL – fixed SL
  • TFForSL - time frame for identification of high/low
  • BarsForSL - number of candlesticks used to identify high/low
  • DeltaForSLHL – offset from high/low for purposes of setting SL
  • SLfromTP – percent of TP

Standard Trailing Stop:

  • TralStandartOn - 0-disabled, 1-enabled
  • TralingStop – trailing distance
  • TralingStep – trailing step

Trailing Stop based on fractals:

  • TralFraktalOn - 0-disabled, 1-enabled
  • FraktalTF – time frame for identification of fractals
  • FraktalBars – number of candlesticks in a fractal
  • FraktalOtstup - offset

Trailing Stop based on high/low:

  • TralBarsOn - 0-disabled, 1-enabled
  • BarsTF - time frame
  • BarsUse – number of candlesticks
  • BarsOtstup - offset

Trailing Stop based on ATR:

  • TralAtrOn - 0-disabled, 1-enabled
  • AtrTF - time frame
  • Atr1Period – short period ATR
  • Atr1Shift – short ATR shift
  • Atr2Period – long period ATR
  • Atr2Shift - long ATR shift
  • AtrCoeff – ATR coefficient

Other settings:

  • Recovery – recovery option (0-disabled, 1-enabled)
  • RecoveryCoeff – recovery coefficient
  • MaxRisk – maximum allowable risk per trade
  • LotVariant – lot calculation: 1- fixed, 2-% of deposit, 3-in currency units
  • FixLot – fixed lot
  • UseRiskOfProfit – consider profit and initial deposit separately (0-disabled, 1-enabled)
  • RiskOfInitDepo – risk on the initial deposit (the entire deposit amount if UseRiskOfProfit=0)
  • RiskOfProfit – risk on profit
  • MoneyForOneLot – money for the first min lot
  • AnotherFraction – use another amount for the next min lot
  • MoneyForNextLot – money for the next min lot

Information Module:

  • UseLog – write messages to the log (true)
  • UsePrint – print comments to the journal (true)
  • UseChartPrint – display comments on the chart (true)
  • Color01, Color02, Color03 – color of the text on the chart
  • FontSize01, FontSize02, FontSize03 – font size of the text on the chart
  • UseSnapShot – take screenshots of market entries (true)
  • UseAlert – give alerts (true)
  • UseSendMail – send emails (true) – appropriate settings need to be made in the terminal
  • UseSendPush – send push notifications (true) - appropriate settings need to be made in the terminal
  • UseSound – play sound at the entry (true)
  • SoundFileName – sound file name
No reviews