Gappers - Closed gaps analysis

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Hey all,

trading the week-end gap on monday is a well known trading technique, praised by most and ignored by others

With my script you can easily see where there have been monday gaps and see where these gaps has been closed on monday

If a gap is present the script shows a WHITE SQUARE

if a gap is present and is filled on monday candle it shows WHITE SQUARE + "GAP CLOSED"

You can also set the threshold for the gap (first parameter)

and set the threshold of how near last candle close your TP is

Defaults are 1.001 for gap and 1.001 for closed TP (for gap 1.0019 takes in account only big gaps)

Enjoy and tell me what you think

Cheers!

Lorenzo

what does it mean 1.001 for the gap? how many cents/ticks/percentage?

morenoa
@morenoa, gap value 1.001 is used to set how wide the distance between last close and current open is. This value is a percentage added to last close

Lollo22
@Lollo22, so it means 1% gap ?

morenoa
@morenoa, 1.20 20% --- 1.02 2% ---- 1.002 0,2% ----- 1,0002 0,02%

hi,
interesting nice job!
does it calculate profit/loss for gap strategy?