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Editor'S Choice - 2020

MindTheGap Advisor - weekly gap trading

Hello dear forex traders!

One of the most popular forex trading strategies is Monday’s Price Gap Trading. Between late Friday and early Monday quotes, Gap (gap) may occur on some pairs, which often tends to “close”, that is, with a gap, quotes often tend to return to Friday's level.

However, not everything is so simple, since a certain filtering of signals is required. We present to your attention the most advanced forex advisor in its category for trading on Monday gaps - MindTheGap, from our forum member SilentSpec, who also periodically writes reviews for the site. In this article, we will test a trading expert on several pairs and evaluate the results.

Advisor Characteristics

Platform: Metatrader 4
Advisor Version: 3.0
Currency pairs: AUDCAD, AUDCHF, AUDNZD, EURAUD, EURJPY, EURNZD, EURUSD, GBPCHF, GBPJPY
Timeframe: M15
Hours: Mondays
Recommended brokers: Alpari (ECN accounts), Roboforex (ECN accounts)


Installation help

We install the adviser as usual. If this is your first time encountering Forex robots and you have a bunch of questions, download and watch the Forex course on Autopilot.

Attention! In this advisor, the settings significantly affect the trading results; use the recommended set-files (see the archive at the end of this article).

Advisor Strategy

The algorithm of the adviser is unusual, so consider it in more detail.

1. On Monday at 00:05, at the market opening, the adviser looks at the candles and looks for a gap with certain parameters:
The distance from Low Friday candles to Open Monday should be no less than MinGap and no more than MaxGap points for purchases and from High to Open for sales.
If he does not find the necessary gap, we are waiting for the next Monday.

2. Check the distance from the current price to Low or High of the last candle of Friday. It should also be at least MinGap. If less, go to standby mode.

3. If the gap is found, the filter is passed, the adviser looks where the first, “Monday” candle has closed. Next, I will consider an example for shopping.

4. The candle closed down.
4.1. We are looking for the opportunity to place a pending order on the opening price of Monday. If the distance is not enough, go to step 4.2.
4.2. Check if we can enter the market. For this, we have two oscillators, UseWPREnter = true, UseCCIEnter = true are turned on. If two are turned off, the adviser simply will not check their readings, and if it is not possible to put a delay, it will enter the market. If at least one of the oscillator filters is turned on, a check is performed on the WPREnterLevel, CCIEnterLevel levels.
If the filters are not passed - go to standby mode.
4.2.1. Immediately after the oscillator filters, we check the spread. If the current spread is less than MaxSpread, the market will enter; if it is larger, it will enter standby mode. By the way, the current average value of the spread over a period of 100 candles is compared.
4.3. If all the checks are corrupted (at least one), go to standby mode.

5. The candle closed up.
5.1. Here we have no deposits, only checks by the oscillators and the maximum spread.
5.2. If something did not pass, go to standby mode.

6. Standby time. In this mode, the adviser on each tick checks the following conditions:
6.1. Oscillator filter, disassembled above.
6.2. Spread check.
6.3. The signal standby mode runs smoothly CandlesToWait candles. If the number of expectation candles is exceeded, we hammer on the signal.

7. When entering the market, deposits are removed. When a snooze is activated, standby mode is canceled.

8. With open market positions on each tick, the conditions for exit on the same oscillators are checked. At the same time, it is enough that at least one of the indicators reaches the CCIExitLevel or WPRExitLevel level, respectively. If false - all of them must simultaneously reach the desired levels. In this case, if ExitInLoss is enabled, the adviser will exit the transaction when conditions for exit appear even at a loss. If ExitInLoss is turned off, a certain minimum profit must be accumulated in order to exit the transaction, which must be no less than MinExitTP from the take profit of the order.

9. Take profit order is calculated simply:
9.1. We have TP in points, it is the default and is used.
9.2. But if suddenly TP is less than MinTP from the gap (for example, 0.5 from the gap), then for TP we use MinTP from the gap.
9.3. If it so happens that the TP is greater than MaxTP from the gap (for example, 2.5 from the gap), then for TP we use MaxTP from the gap.

10. Stop is set in points of the variable SL.

11. MM is switched by LotVariant, the choice is small - either a fixed lot of FixLot, or a fixed risk of Risk as a percentage of the deposit. Recommended level - no more than 3% per trade
12. In orders, slippage slippage control is used; Magic is set for all orders. If Magic = 0, the EA will generate a unique magic for a specific pair of a specific chart of a specific terminal of a specific account of a particular broker - well, in short, you understand)
Orders will be opened by NumOfTry once in case of any malfunction - the Internet has disappeared, the broker has malfunctioned, etc. etc.
13. All positions are trailed by a simple trailing stop (TralOnPips is turned on), at a distance of TrailingStop from the current price.
Moreover, if TrailingFromBE is enabled, it will only trail from breakeven, if it is off, from stop loss.
The expert does not use martingale and order grids, but can apply the mode double entry, but half reduced lot (depending on sets).

The robot has many settings, which makes it easy to make profitable sets for different currency pairs.


Advisor work example


Advisor Backtests

Backtests are made for each pair separately, as Metatrader 4 platform does not allow multicurrency tests.

First series of tests done fixed lot. This allows you to evaluate test results without taking into account money management.


Mind the Gap 3.0 2007 2016 AUDCHF lot 0.1

The test results are acceptable.


Mind the Gap 3.0 2007 2016 EURAUD lot 0.1

Test results are good


Mind the Gap 3.0 2007 2016 EURJPY lot 0.1

Test results are good


Mind the Gap 3.0 2007 2016 EURUSD lot 0.1

Test results are good


Mind the Gap 3.0 2007 2016 GBPCHF lot 0.1

Test results are good


Mind the Gap 3.0 2007 2016 GBPJPY lot 0.1

Test results are good


Mind the Gap 3.0 2007 2016 AUDCAD lot 0.1

The test results are very good.


Mind the Gap 3.0 2007 2016 AUDNZD lot 0.1

The test results are very good.


Mind the Gap 3.0 2007 2016 EURNZD lot 0.1

The test results are very good.


The second series of tests is being done. proportional lot. This allows you to evaluate the test results taking into account money management.


Mind the Gap 3.0 2007 2016 AUDCHF lot MM


Mind the Gap 3.0 2007 2016 EURAUD lot MM


Mind the Gap 3.0 2007 2016 EURJPY lot MM


Mind the Gap 3.0 2007 2016 EURUSD lot MM


Mind the Gap 3.0 2007 2016 GBPCHF lot MM


Mind the Gap 3.0 2007 2016 GBPJPY lot MM


Mind the Gap 3.0 2007 2016 AUDCAD lot MM


Mind the Gap 3.0 2007 2016 AUDCAD lot MM


Mind the Gap 3.0 2007 2016 AUDNZD lot MM


Mind the Gap 3.0 2007 2016 EURNZD lot MM



Using the EA Analyzer program, we will make a summary statement on tests of all pairs with fixed lot and with proportional.

Portfolio MindTheGap 3.0 2007 2016 lot 0.1


Portfolio MindTheGap 3.0 2007 2016 lot MM


Output: Advisor MindTheGap when working with a proportional lot of 9 pairs, it shows long-term stable profit growth without critical drawdowns.

⇒Links to all backtests used in the article (for self-analysis) can be found in the topic on the forum MindTheGap


Account monitoring


Description of settings

  • Service settings
  • SetPeriod - Autoinstall period on the chart
  • Workperiod - The period of the adviser
  • Traralperiod - The period of operation of trawls, bu and tracking conditions for exit from transactions
  • DataRefreshPeriod - The frequency of updates by the adviser of the quotes of the pair
  • MinTradesOpt - parameter for custom optimization criterion
  • CalculateDST - calculate DST automatically. It is used to calculate the operation timer.
  • Manual_GMT_Offset - deviation of server time from GMT. It is used to calculate the operation timer.
  • Expertname - name of expert
  • Magic - magician, if 0 - generates independently
  • Spread filter
  • Maxspread - maximum tick spread
  • MaxAvSpread - maximum average spread for a pair
  • Input Signal Settings
  • Finishour - the hour of the end of the search for the entry point from the opening of Monday
  • MinGapSize - minimum gap size in arbitrary units of volatility
  • MaxGapSize - maximum gap size in arbitrary units of volatility
  • UseMAFilter - use the filter on the typewriter: with the typewriter pointing up, signals are taken only for purchase
  • Maperiod - period of mashka
  • Mamethod - calculation method
  • Maprice - price for calculation
  • MAHistory - how much to watch the tilt of the car
  • Oscillator filters
  • Demarker filter
  • UseDemFilter - use filter
  • DemFilterPer- indicator period
  • DemFilterLevel - minimum and maximum level
  • WPR filter
  • UseWPRFilter - use filter
  • PRFilterPer - indicator period
  • WPRFilterLevel - minimum and maximum level
  • Stochastic filter
  • UseStochFilter - use filter
  • StochFilterKPer, StochFilterSPer - indicator periods
  • StochFilterLevel - minimum and maximum level
  • CCI filter
  • UseCCIFilter - use filter
  • CCIFilterPer - indicator period
  • CCIFilterLevel - minimum and maximum level
  • Fractal filter
  • UseFractalFilter - on off
  • MidFractalDist, OppositFractalDist - minimum distance to fractals above and below.
  • Volatility filter
  • UseMaxDRangeFilter - filter the maximum size of the previous daily candle
  • Maxdange - maximum day size in arbitrary units of volatility
  • MinDRange - minimum day size in arbitrary units of volatility
  • UseVolaFilter - on off
  • VolFilterHist - story
  • MaxCandle1, MinCandle1, MaxCandle2, MinCandle2, MaxCandle3, MinCandle3 - min and max values ​​of candles in arbitrary units of volatility
  • News filter
  • AvoidNews - on off
  • AvoidHighImpactNews - on / off processing of strong news
  • AvoidMediumImpactNews - on / off processing average news
  • AvoidLowImpactNews - on / off processing of weak news
  • MinsBeforeNews - how many minutes before the news to stop trading
  • MinsAfterNews - how many minutes after the news to start trading
  • Money Management Filters
  • MaxRisk Filter
  • UseMaxRiskFilter - maximum risk filter for all owls
  • Maxrisk - maximum percentage of the depot at risk
  • Correlation filter
  • BalancePairFilter - on / off input ban filter for correlating pairs
  • Minimum trade distance filter
  • Safety violation - Enable time control between trades
  • MinMinutesBetweenTrades - Minimum time between trades in minutes
  • MinBarsBetweenTrades - The minimum time between transactions in bars
  • Output Signal Settings
  • ExitProfitCoef - minimum profit to exit
  • ExitMinutes - minimum time from the start of the transaction to exit
  • ExitSignal1 - on / off
  • ExitOnStoByTime - exit after minimum time
  • ExitOnStoInProfit - output only at a profit of at least minimum
  • StochExitPer - period stoch
  • Stoh_close_level - level
  • ExitSignal2 - on / off
  • ExitOnExtrByTime - exit after minimum time
  • ExitOnExtrInProfit - output only at a profit of at least minimum
  • X3, X4 - settings for extremes to exit
  • ExitSignal3 - on / off
  • ExitOnWPRByTime - exit after minimum time
  • ExitOnWPRInProfit - output only at a profit of at least minimum
  • CCIExitPeriod - CCI period
  • WPRExitPeriod - WPR period
  • CCIExitLevel - Output Level for CCI
  • WPRExitLevel - Output Level for WPR
  • Stoploss Settings
  • MinSL, MaxSL - minimum and maximum stop in points
  • Stopvariant - Fixed stop, Stop on ATR, Stop on fractals
  • Fixed - stop SL in points
  • Stop ATR
  • ATR_SL_TF - calculation period ATR
  • ATR_SL_Coeff - coefficient ATR
  • Fractal stop
  • Fract_SL_TF - fractal search period
  • Fract_SL_History - history for finding fractals
  • Fract_SL_Delta - indent from the fractal in points
  • TakeProfit Settings
  • TPVar - Fix TP or TP in% of stop
  • TP - Take value in points for fix
  • TPProc - Value in% of stop
  • Virtualtp - virtual TP (in full version)
  • MM settings
  • Lotvariant - Fixed Lot, Fixed Percentage, Fixed Ralph Vince Proportion
  • Fixlot - fixed lot
  • Risk - Risk as a percentage of the deposit
  • MoneyForMinLot - Deposit money on the minimum lot
  • General Trawl Settings
  • UseTralInLoss - use trawl in the loss zone
  • Tralstep - minimum trawl step in points
  • Minral - minimum distance from the price for placing a stop order
  • Standard trawl
  • UseTralOnPips - Standard trailing on / off
  • Trailingtop - Trailing level (distance from the current price) in points
  • Trailed by the shadows of candles
  • UseTrailingByShadows - Trawl on the shadows of candles on / off
  • Shadow_TR_TF - hi / loy search period
  • Shadow_TR_History - story
  • Fractal trailing
  • TralFraktalOn - on off
  • Fraktaltf - fractal search period
  • Fraktalbars - fractal search history
  • Fraktalauttup - indent
  • BU (breakeven)
  • Usebe - on off
  • Belevel - profit level for bu in points
  • BEPlusPips - indent from the opening price in points
  • BU as a percentage of take
  • UsePercBE - on off
  • Becerc - percentage of take taken by the price, after which in bu
  • Other trading settings
  • Volhist - history for calculating volatility
  • Slippage - max slippage
  • RetryAttempts - Number of attempts to open / close / modify an order
  • Sleeptime -Time between attempts in seconds
  • Sleepmaximum - Maximum time in seconds
  • ECNAccount - Enable if ECN account
  • Usecomments - display comments in the journal
  • Usepanel - show panel on screen

Attention! Do not change anything in the parameters of the adviser and use only the recommended values, if you do not exactly understand what you are doing!


Recommended Money Management

A transaction risk of 3 percent of the deposit is recommended. The lot can be calculated using a special calculator, or simply set the risk level in the parameters of the adviser, and everything will be calculated automatically.


Summary

Advisor MindTheGap is a sophisticated multi-currency robot that trades the popular many decades Monday’s gap trading strategy.

However, he uses the latest achievements in the field of trade automation and programming advisors. Advisor can be used as part of a portfolio of reliable robots, as well as in addition to manual trading (with strict observance of money management).

In general, we have before us a reliable classic strategy with modern improvements. You should not wait 100500%, but if you have been in the market for a long time, you will understand what the true value of this robot is: a reliable, proven system for decades, which gives confidence during drawdowns and good income over a long period of time.


Important !

For the EA to work correctly, the trading terminal must be switched on from the market opening on Sunday evening until it closes on Friday evening. If you are unable to keep the computer operational 24/5, it is recommended to use the VPS server service.


Download Advisor "MindTheGap»

Watch the video: Mind the Gap on the S&P? (February 2020).

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