Mind the Gap MT5
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 monitoringhttps://www.mql5.com/en/signals/612756
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.
- 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.
- Pairs: EURUSD, GBPUSD, USDCAD, GBPJPY, NZDUSD, EURGBP, EURCHF and GBPCHF.
- Time-Frame: 1 Hour
- 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.
- Improved data synchronization between the selected pairs.
- Bugs removal and source code optimization for faster execution.