Gap indicator

Quoting Numb3rs

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Here is a video on gap plays.

http://forexclips.com/freetradingvid...lay-video.html

Sometimes multiple pares will gap on open and I need to check and measure each gap to decide what one is best to trade. An indicator could make this go much faster.

Hope this helps you to understand

Thanks for your time in looking for the indicator.

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Quoting Numb3rs

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Thank you Kurka Fund.
I am not sure how to install this. Meta editor wont compile it. Also, do I save it in scripts or indicators?
Just from reading it it looks like it might work.

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Quoting jeffreytp

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MarketClose: Is this GMT time? of your computer clock? or time of broker feed?

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Quoting jeffreytp

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I watched the video. How loong have you been trading this strategy? What is the probability of wins, and over what period of time?

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Quoting Numb3rs

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I think you can expect to see this sort of trade happen atleast 2 times a month. For April it happend 3 times. 2 were about 20 pips and one was 80 pips.

I do look at all 12 pares on my charts on the open and many times you will see a gap on most pares. I look for the pares with the largest gaps and trade them.

I have been testing gap trading for about 3 months and I havent seen one fail yet. I plan to take this strategy live soon.

I would like to see this strategy fail just so I have an idea of what it will look like when it fails. But for now I can't see anything making this trade fail short of maybe some big disaster like airplanes flying into buildings or North Korea atacks the US or the US atacks them.

This trade is an great way to start off the week.

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Quoting Kurka Fund

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GMT....

If anyone here knows how to automatically set the time to the previous fridays close time please post the code if i can get tehat to work we can backtest and determine the probibilities.... otherwise we have to wait around for every sunday ...

Right now you have to manually enter the close date because I do not know how to do this..

Help us all ...

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Quoting jeffreytp

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When you say fail, do you mean your SL being triggered? If so, looks like we have a winner.

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Quoting Kurka Fund

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Here is an EA on built on this method.... test it and make some suggestions.

I would load it on a bunch of 1 min charts

Parameters......

PHP Code

 
extern string  comment1        = " Time and date of last Fridays Close ";
extern datetime MarketClose    = D'2007.05.04 22:00'; // set this to the Date and time of Fridays Close
extern string  MarketOpen      = "00:00"; // Set this to the time that the market opens on Sundays
 
extern string  comment2       = " ============================== ";
extern double  MinGap         = 10; // if the GAP between open and close is < MinGap then no trade will be executed
extern int     Risk           = 10; // Percentage of account balance that you are going to use to calculate Lot size
extern string  comment        = " Pips added to GAP for TP and SL, if 0, TP and SL = GAP ";
extern int     TakeProfit     = 0; // if you want to set the TP = to the GAP leave this alone. it you want it higher set it to a positive interger, lower = neg interger
extern int     StopLoss       = 0; // same as TP 

This looks like a good way to start the week.... i look foward to seeing how the testing turns out...

Improvements....

1. Automatically calculate "datetime() = to fridays close time"..... anyone know how to do this ???

2. Add some cool trailing stop or something...give me your suggestions on order management...

have fun... BTW it will work on Live accounts but limits the order size to 0.01 lots....

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Quoting Kurka Fund

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Sorry for the bogus post... here is one that accually makes trades...HA

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Quoting jeffreytp

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I just tried to run Strategy Tester to back test this EA and I left all seetings the same except I set:

MarketOpen = 17:00

This is in GMT (5pm est).

All of the Date fields in the strategy test are grayed out (don't know why).

I clicked start and the blue bar went from left to right, it finished, but there were no results. What's wrong?

I am using IBFX. On their chart it says mkt opens at 21:00. Do I have to have:

MarketOpen = 21:00?

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 // Take profit / Stoploss
   int TP = GAP + TakeProfit*Point;
          if (TP < MarketInfo(Symbol(),MODE_STOPLEVEL)){TP = MarketInfo(Symbol(),MODE_STOPLEVEL);}
          Print("TP = : " + TP + " ON Date : " + TimeToStr(TimeCurrent(),TIME_DATE|TIME_MINUTES|TIME_SECONDS));
   int SL = GAP + StopLoss*Point;
          if (SL < MarketInfo(Symbol(),MODE_STOPLEVEL)){SL = MarketInfo(Symbol(),MODE_STOPLEVEL);}
          Print("SL = : " + SL + " ON Date : " + TimeToStr(TimeCurrent(),TIME_DATE|TIME_MINUTES|TIME_SECONDS));

BuyTicket = OrderSend(Symbol(),OP_BUY,Lots,Ask,0,Bid-SL*Point,Ask+TP*Point,EAName,202020,0,Lime); 

Quoting Kurka Fund

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Dont see any problem with the SL / TP calculations. Do you ?

PHP Code

 // Take profit / Stoploss
   int TP = GAP + TakeProfit*Point;
          if (TP < MarketInfo(Symbol(),MODE_STOPLEVEL)){TP = MarketInfo(Symbol(),MODE_STOPLEVEL);}
          Print("TP = : " + TP + " ON Date : " + TimeToStr(TimeCurrent(),TIME_DATE|TIME_MINUTES|TIME_SECONDS));
   int SL = GAP + StopLoss*Point;
          if (SL < MarketInfo(Symbol(),MODE_STOPLEVEL)){SL = MarketInfo(Symbol(),MODE_STOPLEVEL);}
          Print("SL = : " + SL + " ON Date : " + TimeToStr(TimeCurrent(),TIME_DATE|TIME_MINUTES|TIME_SECONDS));
 
BuyTicket = OrderSend(Symbol(),OP_BUY,Lots,Ask,0,Bid-SL*Point,Ask+TP*Point,EAName,202020,0,Lime); 

Let me know...

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