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Help coding NT7 indicatordaily opening gaps in the chart


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Help coding NT7 indicatordaily opening gaps in the chart

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Calgary/Alberta
 
Experience: Advanced
Platform: Ninjatrader, NeuroShell
Broker: CQG
Trading: CL
 
Mr III's Avatar
 
Posts: 43 since Jan 2012
Thanks: 23 given, 21 received

Hello All,

I was wondering if I could have the attention of the programmers in this forum to code an indicator that could show (display) the daily opening gaps, specially at session opening time and that can be shown in the market Analyzer. The reasoning behind this is based on capitalizing on high volatility with opening gaps.
The market's recent volatility has been accompanied by an increased number of daily gaps, which occur when an instrument price jumps from one day to the next (i.e today's low is above yesterday's high, or today's high is bellow yesterday's low), leaving a void in the price series. An up gap in an individual instrument indicates strong buying, which can be the result of good news about the economy indicators or FED announcements. A down gap in an individual instrument indicates strong selling: down gaps are often the result of disappointing news, in the futures instruments such could be poor economic indicators for instance.
Overall this can be a strategy that allows traders to pick up some short run gains when opportunities arise. I found that even traders who count on exploiting long-term trends needs to explore this volatility gaps in order to capitalize some returns when the market move side ways.
Any ideas how to code such indicator?

Mr. III

Post-Note: I have the referred indicator, I coded it myself from scratch. I don't need any further help on this.

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Last Updated on September 8, 2012


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