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The Trap Play

Introduction

The Trap Play is a fully automatic EA and is based of The Trap Move Indicator.

In order for the following Strategy to work you need to download the Global Market Watch (GMW).


Weekly GMW Strategy

Activate The Trap Play in the direction of the Weekly GMW Symbol(s) on the Daily, H4, H1, M30 and M15 chart.

Example: EUR/USD Bullish, only take Bear Traps on Daily, H4, H1, M30 and M15 chart. 

  • Entry: Bear Traps Only.
  • Risk Level: Bear Trap Risk Level on CLOSING or TOUCH basis.
  • Target: Take Profit when the Symbol(s) is removed from the GMW, and have "Close By Reverse Signal" turned ON at all times to take profit on opposite Bull Traps during the trend to secure profits.

    Daily GMW Strategy

    Activate The Trap Play in the direction of the Daily GMW Symbol(s) on the H4, H1, M30, M15 and M5 Chart.

    Example: EUR/USD Bullish, only take Bear Traps on H4, H1, M30, M15 and M5 Chart.

    • Entry: Bear Traps Only.
    • Risk Level: Bear Trap Risk Level on CLOSING or TOUCH basis.
    • Target: Take Profit when the Symbol(s) is removed from the GMW, and have "Close By Reverse Signal" turned ON at all times to take profit on opposite Bull Traps during the trend to secure profits.

    Parameters

    EA Settings: The Trap Play

    • Direction: Only Long/Only Short/Both

    • Stop Loss Mode: TouchM/CloseM (TouchM means that price only have to trade at the SL while CloseM means price needs to CLOSE on the opposite side of the SL).

    • Maximum Open Positions: 10
    • Maximum Long Trades: 5
    • Maximum Short Trades: 5
    • Use Risk Level: True/False
    • Manual Stop Loss: 0
    • Manual Take Profit: 0
    • Magic Number: 123 (ID for EA)

    • Use Auto Lot Size: True/False (If False, Fixed Lot Size is used)
    • Fixed Lot Size: 0.01
    • Risk Percent: 2.0 (This means Stop loss is 2% of Account Balance)
    • Max Lot Size: 200

    • Max Spread: 100
    • Max Slippage: 5
    • Close By Reverse Signal: True/False

    Indicator Settings: The Trap Move

    • Trap Mode: CLOSEMODE/BREAKMODE/BOTHMODE***
    • Bull Trap: Red
    • Bear Trap: Aqua
    • Font Size: 6
    • Font Color: White

    ***CLOSEMODE: Price need to CLOSE above/below the new high/low to qualify a Trap Move. BREAKMODE: Price only need to BREAK above/below the new high/low to qualify a Trap Move. BOTHMODE: Show both CLOSEMODE and BREAKMODE on chart.

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