Spec sheet № 12 of 13New YorkGap continuationBeta
Gap Runner: S&P gap continuation bot
When the S&P opens with a 20-point-plus gap that's still holding at 10:00 AM ET, it trades in the gap's direction.
In NinjaTrader as NY MES Gap Go
Illustration of the entry rules, not a real or simulated trade and not a result. Hypothetical or simulated performance results have certain limitations (CFTC Rule 4.41). Read the full notice.
Who it's for
Traders who want one decisive S&P trade on big-gap days and nothing on quiet ones.
§ 01 How it trades
The rules, in order
- Measures the gap: the 9:30 AM ET open versus the prior day's 4:00 PM ET close.
- At the 10:00 AM ET bar close, if the gap is at least 20 points and price hasn't filled it, it enters in the gap's direction.
- Stop at the prior day's close, target equal to the gap size.
- Any open trade is closed at 3:45 PM ET.
§ 02 Market context
When a gap holds
Gap Runner compares the 9:30 AM ET open with the prior day's 4:00 PM ET close. If the gap is at least 20 points and price still hasn't filled it at the 10:00 AM ET bar close, it enters in the gap's direction.
The stop is the prior day's close, which is the level that would fill the gap, and the target equals the gap size. Risk therefore changes with the gap: a bigger gap means a wider stop.
When this setup struggles
- Gaps that fill after 10:00 AM ET.
- Very large gaps, where the stop is far away in dollars.
- Quiet days, when it doesn't trade at all.
§ 03 Risk and settings
Risk rules
- One trade per day, only on gap days.
- Daily loss limit, $500 by default, adjustable.
- Risk changes with the gap: a bigger gap means a wider stop.
Before you turn it on
- Load it on a 1-minute MES or ES chart.
- One trade per day, and only on gap days.
- The daily loss limit defaults to $500 and is adjustable.
- Any open trade is closed at 3:45 PM ET.
Contract size and the other inputs are adjustable in the bot's settings. The defaults are the settings we tested with.
§ 04 Questions
Gap Runner: common questions
What counts as a gap?
The difference between the 9:30 AM ET open and the prior day's 4:00 PM ET close. Gap Runner needs at least 20 points.
Why is the stop at the prior close?
If price gets back to the prior close, the gap has filled and the reason for the trade is gone.
Will it trade every day?
No. Only on days with a 20-point-plus gap that's still unfilled at 10:00 AM ET.
§ 05 Related
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