Gaps & Gapclosing (Long Running Gaps)

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09/07/2020 at 10:27 AM #143522 quote

Zigo
Participant

Master

100 Tick graph. GapDn at 10:51:31

Enter at 11:08 TP = low of the last candle of the gap. (I have not traded this one)

DOW-100-Ticks.png

09/07/2020 at 10:59 AM #143536 quote

Zigo
Participant

Master

My experience is, to trade a gap, it must be open for at least 10 candles. The example above use the Macd to enter the trade

09/15/2020 at 10:03 AM #144309 quote

Zigo
Participant

Master

How long does it take to close the gap?

DOW-30-minutenG.png

09/15/2020 at 10:19 AM #144314 quote

robertogozzi
Moderator

Master

I fear I cannot be of any help here.

09/15/2020 at 11:23 AM #144324 quote

GraHal
Participant

Master

Zigo wrote:

How long does it take to close the gap?

I’d put money on it that some gaps are never closed?

Gaps are closed because traders expect them to be closed (crowd psychology / lemmings! 🙂 ) and so Limits and Stops are set accordingly.

The smaller the gap … the less significance the gap will have on future price action.

Also the more price moves on from where the gap was … the less significance the gap will have on future price action.

09/15/2020 at 3:01 PM #144355 quote
Zigo
Participant

Master
I completely agree with you but last year (TF 30 min) all Gaps Down are closed and only 3 Gaps Up are still open, every horizontal line represent a gap (yellow gap down, green gap up).

The gas still open
1. 03 23 2020 (0.1 point)
2. 04 03 2020 (138.5 points)
3. 09 11 2020(132 points)
DOW-30-minutenclosed.png
09/15/2020 at 7:40 PM #144371 quote

GraHal
Participant

Master

All 3 dates of gaps are where price was in the area of a Major Low and a recent High.

The 11 Sep 20 gap will be closed, but the March and April 20 Gaps may not be closed! 🙂

09/16/2020 at 9:44 AM #144394 quote

Zigo
Participant

Master

Maybe you can help, to code for gaps which are open for more then 10 candles and less then X, to find the gaps which are worth to trade?

What I try to become is that only the horizontale lines are showed, from those gaps, who are not closed yet. (Whatever TF it is).

09/16/2020 at 9:54 AM #144398 quote
Zigo
Participant

Master
```
//Gaps
//Zigo
//3.09.2020

c1= low[1]> high[2]
c2= high[1] < low[2]
if c1 then
c=high[2]
DRAWTEXT("Gapup", barindex[1], high +AverageTrueRange[14](close),dialog,standard, 19)coloured(255,255,255,255)
DRAWHLINE(c)coloured(0,255,0,255)
elsif c2 then
c7=low[2]
DRAWTEXT("GapDn", barindex[1], low-AverageTrueRange[14](close),dialog,standard, 19)coloured(255,255,0,255)
DRAWHLINE(c7)coloured(255,250,0,255)
endif

return
```
DOW-30-minuten16.9.png
09/17/2020 at 9:55 AM #144512 quote

Zigo
Participant

Master

The 11 september gap has been closed

DOW-60-minutenClosed.png

10/19/2020 at 4:25 PM #147776 quote

Zigo
Participant

Master

Gap this morning.

10/19/2020 at 4:26 PM #147777 quote

Zigo
Participant

Master

Gap closed in the afternoon

DOW-47-minutengapclosed.png
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