DAX Daily Gap detector

robertogozzi · 2020-04-15T22:22:05+00:00

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

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04/15/2020 at 11:22 PM #126339 quote
robertogozzi
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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
```
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x-12.jpg DAX-Daily-Gap-detector.itf
04/16/2020 at 7:09 AM #126347 quote

Vonasi
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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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