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Mind the Gap MT5

Introduction

After a weekend or holiday, there can be a discrepancy occur between the "last close" and "current open" price. Across all the time-frames, the open price of a bar is usually equal to the close price of the last bar.

When this pattern is not followed, there occurs a difference between the currently open and last closed price. This phenomenon is known as the market "GAP." It happens because the interbank currency market continues to react to the fundamental news during the weekend. 

It is generally believed that the market almost always tries to fill the gap because there is no support/resistance between the gap, so the price has complete freedom to roam around. 

The "price gap" alone is not sufficient to provide a statistical edge with positive expectancy over the long term, that's why this EA use a more sophisticated algorithm which analyzes the price gap using a custom made market randomness index with emerging volatility. It carefully throws out the price gaps that have occurred randomly without any fundamental reason.  

On successful detection of the required pattern, It fires long and short trading orders simultaneously on eight selected currency pairs. Once it executes the trading orders, a trade management module activates that capture the available profits quickly before degradation of the edge. 


Intelligent Money Management

We recently added an intelligent MM module that continually scans the closed orders and recent market conditions. It slightly increases the position size as soon as it detects the favorable conditions. The last 16 years data shows the intelligent MM significantly boost the returns while reducing the drawdowns. 


Real account monitoring

https://www.mql5.com/en/signals/612756


Backtesting

The EA collects and processes massive tick data in the background, It can take some minutes to start the backtesting process. 

MT4 Version is available KT Mind the Gap MT4.


Features

  • Risky methodologies like the grid, averaging, martingale, and hedging are not used. 
  • It trades eight currency pairs simultaneously from a single chart, truly a multi-currency EA.
  • Every order is protected by a fixed stop-loss.
  • Even if you don't use the spreads filter, EA still looks for the suitable difference between the Ask/Bid price to ensure the optimal entries. 
  • The strategy produces over four thousand trades in 16 years that proves its statistical edge in the long run. 


Recommendations  

  • Pairs: EURUSD, GBPUSD, USDCAD, GBPJPY, NZDUSD, EURGBP, EURCHF and GBPCHF.
  • Time-Frame: 1 Hour

Input Parameters

  • Lot Size Method:  Fixed Lot Size | Auto Lot Size
  • Risk Per Trade:  Risk percentage per trade.
  • Use Intelligent MM Projection for better returns: true/false 
  • Max. Slippage in points:  200 (recommended)
  • Max. Spreads in points:  0==off (recommended)
  • EA Mode:  Trade only Single Pair | Trade Multiple Pairs from Single Chart (recommended)
  • Symbol Suffix used by the broker:  if your broker uses a symbols suffix, add it here. 
  • 1st Symbol:   EURUSD
  • 2nd Symbol:  GBPUSD
  • 3rd Symbol:  USDCAD
  • 4th Symbol:  GBPJPY
  • 5th Symbol:  NZDUSD
  • 6th Symbol:  EURGBP
  • 7th Symbol:  EURCHF
  • 8th Symbol:  GBPCHF
  • Stoploss Method: Pips | Volatility (recommended)
  • Logging: if true, EA logs all its operation in the journal tab.
WaveRidr
879
WaveRidr 2019.09.26 07:12 
 

3 huge losses in 2 weeks. When the ea makes a profit its tiny. So will take months to get back this money and i've not even had it a month

alberto1C
68
alberto1C 2019.09.19 13:07 
 

This EA and his creator deserve 5 stars. Very happy.

The Gap happens normally when I am a sleep, so Mind the Gap is perfect , do not need to get up anymore

I have had it for over a month and I am up 20% with small dradowns

Author is very supportive, comes back very quickly.

Also at the beginning i had a minor doubt on the inputs, and I had fast and good support

from Mr. Nitin. that also made some good suggestions on how to make it more profitable for example he told me I could trade multiple pairs from the same chart.

Martin Dieter Backschat
4407
Martin Dieter Backschat 2019.09.15 23:18 
 

I am a fan of gap trading and this EA is simple to use and safe. The author is very helpful. So far the EA works as expected and already gave me some profits. I will update the review after some months.

Versão 1.5 2019.08.12
- Intelligent money management added. It constantly analyzes the trades data and increases the position size to boost the returns during favorable conditions.

- Improved data synchronization between the selected pairs.

- Bugs removal and source code optimization for faster execution.
Versão 1.2 2019.08.05
- Optimize orders execution.