Mind the Gap MT5

Introduction

After a weekend or holiday, there can be a discrepancy occur between the "last close" and "current open" price. Across all the time-frames, the open price of a bar is usually equal to the close price of the last bar.

When this pattern is not followed, there occurs a difference between the currently open and last closed price. This phenomenon is known as the market "GAP." It happens because the interbank currency market continues to react to the fundamental news during the weekend. 

It is generally believed that the market almost always tries to fill the gap because there is no support/resistance between the gap, so the price has complete freedom to roam around. 

The "price gap" alone is not sufficient to provide a statistical edge with positive expectancy over the long term, that's why this EA use a more sophisticated algorithm which analyzes the price gap using a custom made market randomness index with emerging volatility. It carefully throws out the price gaps that have occurred randomly without any fundamental reason.  

On successful detection of the required pattern, It fires long and short trading orders simultaneously on eight selected currency pairs. once it executes the trading orders, a trade management module activates that capture the available profits quickly before degradation of the edge. 

Intelligent Money Management

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