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Gap is generally consider to be 40 to 60 pip
not many participants traders right after the gap
for back to back cross currency -- if gap occur in weekdays, don't even think of it will fill up the gap (quickly)
for USDX after weekend gap : the hole could be filled back in 1/2 day -- imagine the earth rotation, it does make sense
but there is also weekend that appear in 1 single currency
in the following Monday-- the gap could be something to watch out for
but one universal truth about gap -- many of your indicator will not work for quite a while --- if it does appears
-- so gap may not be that straight forward and simple
----- EVEN we are into Manual entry only, we could learn from EA too --- [ not its strategy though , we can't do it that quick and decisive as EA ]
but during Manual entry -- ENTRY should be analystic ++ after opening, we should be emotionless // exit and cut could take advantage or avoid Higher Volatility
and EA that is suitable for manual entry -- that should avoid Impulsive Entry behavior == actually , we could watch several EA in action -- to be decisive on our ENTRY too (i.e. few EA on 1 currency that you like, then , you translate to Manual entry)
GapTrader.mq4
Hey has any one put "GapTrader.mq4" on a live account thats connected to myfxbook.com?
Hey has any one put "GapTrader.mq4" on a live account thats connected to myfxbook.com?
Probably not. Judging by how dead this forum thread is, I doubt if many people are using this exact EA seriously.
I might revisit and re-vamp the GapTrader code soon and put it live again but on my nano account. Improvements:
- Fix Order Placement bug from before (that I accidentally introduced)
- Include extra parameters that allow a fixed pip stop loss and take profit as well as percentages based on gap level.
- Include a filter that prevents trading for gaps that are too large.
- Include some sort of trend indicator / basic RSI indicator that could filter out "bad" gaps. e.g. if market is trending upwards Friday, and gap opens up largely upwards, then possibly unlikely that gap closes by market direction going down etc. Be interesting to see if this is possible.
I think your suggestion would have a good effect.
I'm interested to see how it comes a long.