AI Fair Value Gap Retest Trader
- Experts
- Version: 1.1
Imbalances get revisited. This EA trades the retest with defined risk.
How it works
On each new bar of the signal timeframe (M15 by default) the EA scans the last three closed candles for a fair value gap. A bullish gap appears when the low of the newest candle is above the high of the candle two bars earlier, with a bullish middle candle. Bearish gaps are the mirror image. Gaps smaller than a fraction of ATR are ignored.
Up to N unfilled gaps are tracked and drawn on the chart. When price retraces into a gap in the direction of its impulse, the EA enters at market on the next bar. An optional EMA filter requires the close to be on the trend side of the EMA.
The stop loss is placed beyond the far edge of the gap, or beyond the origin candle if you prefer, plus an ATR buffer. The take profit is a reward ratio multiple of the stop distance.
A gap is removed when it is fully filled, when it reaches its maximum age, or once it has been traded.
Key features
- Automatic 3-candle fair value gap detection with minimum size filter
- Tracks several unfilled gaps at the same time
- Optional EMA trend filter
- SL beyond the gap or origin candle with ATR buffer, TP by reward ratio
- Break-even and ATR trailing stop
- No grid, no martingale, no averaging, no hedging
- Every trade is opened with SL and TP
Recommended
Forex majors, XAUUSD and indices on M15 or H1.
Inputs
Risk, lot cap, magic number, signal timeframe, gap size, tracked gaps, gap lifetime, EMA filter, SL anchor and buffer, maximum SL, reward ratio, break-even, trailing, display.
Risk note
Trading involves substantial risk. Test on a demo account first.
