Coding request for Weekend Gap Trading

thread: Coding request for Weekend Gap Trading

  1. #1

    Coding request for Weekend Gap Trading

    Dear Coder ..

    Weekend Gap trading on H1 for multipurpose currency pairs is very intriguing and beneath is the egy in particulars. So, if any expert coder here to assist with the EA to automate the trade is going to be advantage for us. Hope to hear from you all ... Let grow together . .

    Gap Trader
    Gap Trader Expert Advisor exploits among the most common phenomena of the Forex market specifically the weekend gap, a price difference between the final Fridays closing price and the forthcoming Mondays opening one. This price jump is a result of the fact that the interbank currency market continues to respond on fundamental news throughout the weekend, starting Monday in the liquid level. Weekend Gaps are consistently been filled from the market and therefore fanatically exchanged by Forex expert traders. Gap Trader using H1 time period fully automates the implementation of the above egy by:Immediately seeing a weekend gap on Monday market opening and betting on its filling. Gap Trader can be used simultaneously in as many currency pairs as the user wants. Managing all open positions with free-ride opportunity utilization orientation. (Trailing Stop Loss function) Together with the magic number feature to separate involving any preceding opened non-gap-trading rankings and gap-trading ones, together with the first being unaffected by the usage of Gap Trader expert advisor. Magic number can also be used for the differentiation between gap-trading rankings in various currency pairs. Strategy Description
    On Mondays market available, if the Fridays final H1 candle high (low) is lower (higher) compared to Mondays starting price by over 10 pips, three short (long) positions, position A, C and B, are opened. From today on this price difference is going to be called gap. All 3 positions have an initial Stop Loss set in a user specified level, although the default Stop Loss level is set to 100 pips. Position A takes a Take Profit level that's put one gap distance away from the opening price, TP A =1xgap, standing B includes a Take Profit level equivalent to 2 openings distance from the opening price, TP B =2xgap, and standing C does not have a Take Profit level. (Picture 1) Once place A is closed, in other words once the initial gap distance is reached, positions C and B Stop Loss is set to the zero loss level (Stop Loss A= Stop Loss B=starting price) and also the Trailing Stop Loss Function aids in beginning the free-ride region of the egy.
    Gap Trader will close all positions which are still offered by next Monday and whose gap distance has not yet been filled, letting open all wining bets and their free-riding possible for maximum profits.

    Trailing Stop Loss Function
    when the 1xgap is filled the Trailing Stop Loss function will get into action. It starts a free ride position by setting positions C and B Stop Loss level in the zero loss point. If the price move more to your prefer it trails the stop loss level upwards for a long position or downwards for a quick position optimizing your potential profits. The Trailing Stop Loss distance from the current price is set to a user defined level expressed in pips, together with the default level set to 39 pips.

    Suggested Input ParametersLotsize:The bet size can be either an integer or a decimal price. Default value set to 1. Magicnoumber:A special non zero integer, non negative value for every pair StopLossPips:Initial Stop Loss worth expressed in number of pips away from the opening price. Its value should be an integer! Default value set to 100. SL/TP TraillingStopLossPips:The Stop Loss worth which will be used when the Trailing Stop Loss role will be triggered. It's expressed in the number of pips away from the current price. It ought to be an integer! And its default value set to 39. If the gap value is less the value afterward Gap Trader will put it equal to the gap worth otherwise it will be left unaffected. GMT Offset in Auto or Manual Thank you

  2. #2
    Member Rocky's Avatar
    83
    Hi mmswe, did you manage to come up with and test your egy?

    Regards,
    Alin

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