Overview
ReelsFriendsFVG is a sophisticated cTrader cBot that implements a Fair Value Gap (FVG) trading strategy with comprehensive risk management features. This robot identifies market inefficiencies (gaps) on a secondary timeframe and executes trades with precise risk controls.
Strategy Logic
Core Concept
The cBot identifies Fair Value Gaps (FVGs) on a user-defined secondary timeframe (default: 15 minutes):
- Bullish FVG: Bearish candle → Gap down → Bullish candle pattern
- Bearish FVG: Bullish candle → Gap up → Bearish candle pattern
Market Bias Determination
The strategy uses three bias modes:
- Auto (0): Determines bias automatically using EMA filter
- Manual Bullish (1): Only looks for long opportunities
- Manual Bearish (2): Only looks for short opportunities
Entry Conditions
- Price must be below hourly open for bullish bias trades
- Price must be above hourly open for bearish bias trades
- FVG must meet minimum size requirement (configurable in pips)
Risk Management Features
Position Sizing
- Risk-based position sizing (default: 0.75% per trade)
- ATR-based stop loss and take profit levels
- Configurable SL/TP multipliers
Loss Controls
- Daily loss limit (default: 3% of initial balance)
- Equity protection stop (default: 40% drawdown)
- Maximum concurrent positions limit
Trade Management
- Trailing stops with configurable activation and step
- Breakeven functionality
- Time-based order management (creation/cancel hours)
Configuration Parameters
Strategy Parameters
Bias Mode: Auto, Manual Bullish, or Manual BearishFVG Minimum Size: Minimum gap size in pips to qualify as tradable FVGFVG Timeframe: Timeframe for FVG identification (default: 15min)
Risk Parameters
Risk per Trade %: Percentage of account to risk per tradeSL/TP Multipliers: Multipliers applied to ATR for stop loss and take profitMax Concurrent Positions: Maximum number of simultaneous trades
Time Controls
Order Creation Hour: Hour when trading beginsOrder Cancel Hour: Hour when pending orders are canceledDaily Close Hour: Hour when all positions are closed
Usage Notes
- The cBot works best in trending market conditions
- FVG identification requires a secondary timeframe with sufficient historical data
- Recommended minimum account balance: $1000 for proper position sizing
- Default parameters optimized for major forex pairs (EURUSD, GBPUSD, etc.)
Disclaimer
This trading robot should be thoroughly tested in a demo environment before live deployment. Past performance is not indicative of future results. Users should understand the strategy and adjust parameters according to their risk tolerance and market conditions.
