After the input parameters are set sa their desired levels press the ok button and Gap Trader is on. Magic number is also used for the distinction between gap-trading positions in different currency pairs. This number is essential to the function of the expert advisor as it is used on the one hand to distinguish between any non-gap-trading positions that are already open and the gap-trading positions and on the other hand between gap-trading positions on different Forex pairs.
EA Gap Hunter - EA Collection
Make sure that the expert advisors activation button tradign the toolbar is on and also a smiling face has appeared to Foeex upper right corner of each chosen Forex pair chart. Gap Trader using H1 time frame fully automates the execution of the aforementioned strategy by: A unique non zero integer, non negative value for each pair StopLossPips: It is expressed in the number of pips away from the current price. If the gap value is less that the inputted value then Gap Trader will set it equal to the gap value otherwise it will be left unaffected. Trailing Stop Loss function Using the magic number feature to separate between any previous opened non-gap-trading positions and gap-trading ones, with the first being unaffected by the use of Gap Trader expert advisor.
Attached Image click to enlarge Oct 29, 6: Picture2 Magic Number Feature Every Forex pair at the initialization of Gap Trader expert advisor should be given a unique non zero integer magic number value by the user. If you set up a daily chart, with vertical lines on a number of Sunday opens, and use it on 10 different pairs, you will probably notice that the losing trades nearly always went against the trend, which I suppose figures Once you do that the parameter window will be shown.
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You see the blue line which marks friday close and a huge gap to our platform open on sunday. Weekend Gaps are consistently been filled by the market and therefore fanatically traded by Forex expert traders. I'll continue to look at how the mechanical system can be used on other pairs, but not havng an EA for strat testing means it's a SLOW job Default value set to Default value set to 1. Gap Trader will close all positions that are still open by next Monday and whose gap distance has not been filled, letting open all wining bets and their free-riding potential for maximum profits.
This price jump is due to the fact that the interbank currency market continues to react on fundamental news during the weekend, opening on Monday at the most liquid level. From now on this price difference will be called gap.