LC Gap Trader

LC Gap Trader

Execute a trade based on specific parameters that will analyze and determine if a gap was created between the Friday closing and Sunday opening.   If specific conditions, based on selected parameters, are present then execute a market order on that currency pairs.  This EA will be running simultaneously on multiple currency pairs.

Parameters:

Gap Size – A positive integer between 1 – 9999. The EA will compare the absolute value between Friday’s closing price and Sunday’s Buy opening price. If the absolute value is = or > than the Gap Size, execute trade.

S/L – A positive integer between 1 – 9999. Automatically set the S/L when order is executed.

Lot Size – A positive number between 0.01 – 99.99.

Trailing Stop – Character “Y” or “N”.

Trailing Stop Size – A positive integer between 1 – 999. If Trailing Stop = “Y” only, automatically set Trailing Stop.

Program Execution:

Calculate spread. Absolute value between current Buy and Sell.

Place a Sell order if Friday’s close is < than Sunday’s opening Sell price and if the absolute value is = or > than the Gap Size.

Place a Buy order if Friday’s close is > than Sunday’s opening Buy price and if the absolute value is = or > than the Gap Size.

If a Buy order is executed, a T/P will be set at Friday’s closing price.

If a Sell order is executed, a T/P will be set at Friday’s closing price + calculated spread.

                Sell Order Example:

                                Friday closing price – 1.3620

                                Calculated spread – 10 pips

                                T/P – 1.3630

Assumption:

• Build > 600