This EA is based on the Indice gaps between todays open price and yesturdays closing price. On Metatrader these are not shown as we only see a 24hr chart. If we want to know the gap between the open at 16:30 and yesturdays close at 23:30 on the SP500 this EA will reveal the gap. On Indices these types of Gap close approximately 60% of the time within the same day and is demonstrated on the panel which records previous gap closures and provides to the user a statistical proof of gaps closing for any Indice market its applied to.
But also we need to know exactly when the gap will close. This I have discovered can be found when price breaks through a previous low for a down gap or breaks through a previous high for an up gap. Think about this! If price is breaking a new low and there's been a down gap it means price is bearish and will probably continue selling off till price reaches the close. Remember! As proven these gaps close 60% of the time. You can see all this for your self on backtest!
Thats how this EA gets its prediction of price direction and gives this system perfect timing for a truly remarkable strike rate.
When a gap occurs it draws a line projecting outward from yesturdays close to todays open then draws an entry arrow followed by 2 take profit lines based on the distance of current open to yesturdays close.
For a more detailed explanation as to the methodology behind this Indicator please click here !
For MT4 EA Version click here !For the Free MT5 Indicator Version click here !For the Free MT4 Indicator Version click here !Features :
- No Black Box EA. An open system clear to see how and why it works
- Unique gaps revealed, hidden by 24hr Chart
- High Probability trades! Indice Gaps combined with HiLo Break for solid entry
- Prove efficacy of system with stats on panel
- Follow the smart money
- Trading shouldnt be emotional but people are. EA's take the emotions away
- No martingale, grid averaging or no stop loss trading
Recommendations :
- SP500 or any other Indice Market
- Recommended Timeframe M30
- Any Reputable Broker
- Leverage at 1:30 or greater
Settings :
Trade Management
- Classic - If true we use the Take Profit 1 to either move stop to break even or close half lot size
- Trailing - If true we instead start trailing our stop loss when we reach Take Profit 1
Classic Settings :
- Stop Loss Size - A choice of 1:1 upto 5:1 Risk Reward Ratio. Based on the distance between open order price and yesturdays close
- Break Even or Half Lot Size - Break Even true will move stop to break even when Take Profit 1 is met likewise Half Lot Size true will close half the lot when Take Profit 1 is met
Trailing Settings :
- Trailing Stop (Volatility) - Trailing Stop will adjust according to the size of Average True Range EG If ATR=100, 1.2 x 65 = 78 so, Trailing Stop = 120
- Minimum Profit (Volatility) - Minimum Profit will adjust according to the size of Average True Range EG If ATR=100, 0.6 x 100 = 39 so, Minimum Profit = 60
- Stop Loss (Volatility) - Stop will adjust according to value of Average True Range EG If ATR=100, and Stop Loss = 1.0 then Stop Loss will be 100 points because 1.0 x 100 = 100
Trade Settings
- HiLo Break Switch - If true will signal only when a high or low break occurs RECOMMENDED Default True
- Pre Open Signal - If we want to signal before the open. Sets by the hour EG 2 = 2hrs before the open
- Points From Gap Close - If we want the order to close just before close is met we can input how many points
- Points From Take Profit 1 - If we want to make Take Profit slightly earlier then we can input here as percentage 0.1 = 10%, 0.2 = 20%
- Points From Highest/Lowest Pending Order - If we want the pending order slightly move back from highest lowest. Again as percentage 0.1 = 10%, 0.2 = 20%
- Lookback for Highest/Lowest - The amount bars we count from current bar to recognise highest lowest price RECOMMEND ED Default 4
- Place we start finding Fractal - The bar we start counting our new highest high or lowest low RECOMMEND ED Default 2
Volume & Gap Size
- Under Average Volume - If true will only signal on under average volume
- Under Average Gap Size - If true will only signal on under average gap size
Start & End Hour
- Market Open - Todays Open
- Market Close - Yesturdays Close
