DAX Daily Gap detector

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04/15/2020 at 11:22 PM #126339 quote
robertogozzi
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Master
Traders who want to easily spot daily gaps (using intraday TF’s), often tweak trading times altering default settings and this may lead to unexpected issues.

This little indicator simply simulates a gap by displaying, between 22:00 and 08:00 hours, transparent candles and drawing segments from the closing hour (CLOSE price) to the next opening hour (OPEN price).

I hope it may be of some help.
```
// Simulates NO candles between 22:00 and 08:00, to spot gaps
//--------------------------------------------------------------
DEFPARAM CalculateOnLastBars = 1000
IF not (OpenTime >= 080000 AND OpenTime <= 220000) THEN
   DRAWCANDLE(Open,High,Low,Close) COLOURED(255,255,255,255) BORDERCOLOR(255,255,255,255)
ENDIF
IF OpenTime = 220000 THEN
   CloseBar   = BarIndex
   ClosePrice = close
ENDIF
IF OpenTime = 080000 THEN
   DRAWSEGMENT(CloseBar,ClosePrice,BarIndex,ClosePrice) coloured(0,128,0,255)
   DRAWSEGMENT(CloseBar,Open,BarIndex,Open)             coloured(0,128,0,255)
ENDIF
RETURN
```
Al and upupandaway thanked this post

x-12.jpg DAX-Daily-Gap-detector.itf
04/16/2020 at 7:09 AM #126347 quote

Vonasi
Moderator

Master

Looks to be a similar idea to this one that I wrote a while back:

Session Candles Only

Maybe I should update it to also give the option of drawing horizontal segments.
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DAX Daily Gap detector

ProBuilder: Indicators & Custom Tools

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robertogozzi @robertogozzi Moderator

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This topic contains 1 reply,
has 2 voices, and was last updated by Vonasi
5 years, 10 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	04/15/2020
Status:	Active
Attachments:	2 files

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