GAP Finder MT4 Indicator

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Gap indicator

Hello I am looking for an MT4 indicator that will pointout gaps from the close of one bar to the open of the next and show the amount of the gap in pips.

Does anyone know of an indicator like this and where to find it?

  • Post # 2
  • Quote
  • May 7, 2007 4:21pm May 7, 2007 4:21pm

whats the purpose of this ?

The gap would just be the difference in the tick that started the new bar compared to the last tick.

  • Post # 3
  • Quote
  • May 7, 2007 5:29pm May 7, 2007 5:29pm
  • Post # 4
  • Quote
  • May 7, 2007 5:51pm May 7, 2007 5:51pm

Question, what are the advantages of trading gaps?

I looked for an indicator and cannot locate one for you.

  • Post # 5
  • Quote
  • May 7, 2007 6:03pm May 7, 2007 6:03pm

Question, what are the advantages of trading gaps?

I looked for an indicator and cannot locate one for you.

Here is a video on gap plays.

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    Binomo

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Sometimes multiple pares will gap on open and I need to check and measure each gap to decide what one is best to trade. An indicator could make this go much faster.

Hope this helps you to understand

Thanks for your time in looking for the indicator.

  • Post # 6
  • Quote
  • May 7, 2007 6:26pm May 7, 2007 6:26pm
  • Post # 7
  • Quote
  • May 7, 2007 6:51pm May 7, 2007 6:51pm

All I want the indicator to do is point out the gap on market open with some sort of marker and then have text telling me how big the gap is in pips.

  • Post # 8
  • Quote
  • May 7, 2007 8:46pm May 7, 2007 8:46pm

Numb3rs, thanks for the video. Now I have a better understanding.

Wish you many pips!

  • Post # 9
  • Quote
  • May 7, 2007 10:01pm May 7, 2007 10:01pm

Here is an EA on built on this method. test it and make some suggestions.

I would load it on a bunch of 1 min charts

extern string comment1 = ” Time and date of last Fridays Close ” ;
extern datetime MarketClose = D ‘2007.05.04 22:00’ ; // set this to the Date and time of Fridays Close
extern string MarketOpen = “00:00” ; // Set this to the time that the market opens on Sundays

extern string comment2 = ” ============================== ” ;
extern double MinGap = 10 ; // if the GAP between open and close is extern int Risk = 10 ; // Percentage of account balance that you are going to use to calculate Lot size
extern string comment = ” Pips added to GAP for TP and SL, if 0, TP and SL = GAP ” ;
extern int TakeProfit = 0 ; // if you want to set the TP = to the GAP leave this alone. it you want it higher set it to a positive interger, lower = neg interger
extern int StopLoss = 0 ; // same as TP

This looks like a good way to start the week. i look foward to seeing how the testing turns out.

1. Automatically calculate “datetime() = to fridays close time”. anyone know how to do this .

2. Add some cool trailing stop or something. give me your suggestions on order management.

have fun. BTW it will work on Live accounts but limits the order size to 0.01 lots.

  • Post # 10
  • Quote
  • May 7, 2007 10:59pm May 7, 2007 10:59pm

Thank you Kurka Fund.
I am not sure how to install this. Meta editor wont compile it. Also, do I save it in scripts or indicators?
Just from reading it it looks like it might work.

Here is an EA on built on this method. test it and make some suggestions.

I would load it on a bunch of 1 min charts

extern string comment1 = ” Time and date of last Fridays Close ” ;
extern datetime MarketClose = D ‘2007.05.04 22:00’ ; // set this to the Date and time of Fridays Close
extern string MarketOpen = “00:00” ; // Set this to the time that the market opens on Sundays

extern string comment2 = ” ============================== ” ;
extern double MinGap = 10 ; // if the GAP between open and close is extern int Risk = 10 ; // Percentage of account balance that you are going to use to calculate Lot size
extern string comment = ” Pips added to GAP for TP and SL, if 0, TP and SL = GAP ” ;
extern int TakeProfit = 0 ; // if you want to set the TP = to the GAP leave this alone. it you want it higher set it to a positive interger, lower = neg interger
extern int StopLoss = 0 ; // same as TP

This looks like a good way to start the week. i look foward to seeing how the testing turns out.

1. Automatically calculate “datetime() = to fridays close time”. anyone know how to do this .

2. Add some cool trailing stop or something. give me your suggestions on order management.

have fun. BTW it will work on Live accounts but limits the order size to 0.01 lots.

GAP Finder – indicator for MetaTrader 4

This indicator plots up arrow for bullish gaps and down arrow for bearish gaps.

It also can plot a cross for a closed gap or hide it.

Trader can select the minimum gap size in points. Gaps less than minimum size are ignored.

  • Min gap size in points : Minimum number of points for valid gaps
  • Check for closed gaps : Enable/Disable history check for closed gaps
  • Max history bars for closed gaps : Max number of history bars to check for closed gaps
  • Hide closed gaps : Hide/Show closed gaps
  • Show Alerts : Show alert messages of new gaps and closed gaps

Example showing both open and closed gaps

Same chart showing only open (fresh) gaps

Suggested Usage:

  • New open gaps can be used as entry filter in the same direction of the gap.
  • Old open gaps can be used as targets for opposite direction trades.

Immediately deletes the SL/TP of all positions.

Total closure of all positions (winners/losers). You can also select which are of a single instrument.

Downloads the history of Alpari PAMM accounts and displays it on the chart.

Displays important parameters, which can change during news release or on Fridays before closing.

GAP Finder MetaTrader 4 Forex Indicator

GAP Finder MetaTrader 4 Forex Indicator plots up arrow for bullish gaps and down arrow for bearish gaps. GAP Finder can plot a cross for a closed gap or hide it. Trader have an option to select the minimum gap size in points. Gaps less than minimum size are ignored.

  • Hide or closed gaps : Hide or Show closed gaps
  • Show Alerts : messages of new gaps or closed gaps
  • Min gap size in points : Minimum number of points for valid gaps
  • Check for closed gaps : Enable or Disable history check for closed gaps
  • Max history bars for closed gaps

Image showing both open / closed gaps

Suggestions for Trader:

  • You can use the new open gaps as entry filter in the same direction of the gap.
  • You can use the old open gaps as targets for opposite direction trades.

GAP Finder MT4 Indicator – Download Instructions

In order to transform accumulated history data, you need to install a MetaTrader 4

GAP Finder – it is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.

Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.

How To Install GAP Finder MT4 indicator for MetaTrader 4.mq4?

Download indicator for MetaTrader 4.mq4
Copy GAP Finder MT4 to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt4 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on GAP Finder MT4 for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
Indicator for MetaTrader 4.mq4 is available on your Chart

How to remove GAP Finder MT4 Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?

Select the Chart where is the Indicator running in your Metatrader 4 Client
Right click into the Chart
“Indicators list”
Select the Indicator and delete

Questions about this indicator? Ask our community

Download GAP Finder MetaTrader 4 Indicator

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    Binomo

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