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Gap Indicator for TOS and/or MT4?
Started:April 6th, 2015 (08:32 PM) by LorraineP Views / Replies:1,118 / 1
Last Reply:April 10th, 2015 (10:40 AM) Attachments:0

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Gap Indicator for TOS and/or MT4?

Old April 6th, 2015, 08:32 PM   #1 (permalink)
Membership Temporarily Revoked
Vidor, TX/USA
Futures Experience: Intermediate
Platform: MT4 and TOS
Favorite Futures: Forex
LorraineP's Avatar
Posts: 15 since Jan 2015
Thanks: 5 given, 6 received

Gap Indicator for TOS and/or MT4?

I've been trading Forex Gaps on Sunday and they've been very profitable/predictable. However, it is really time consuming to determine with currency pairs have the larges gap with the smallest spread. And as you know, time is of the essence when trading gaps. Cant study it for an hour.

So, I thought SURELY there would be an indicator or tool for Think Or Swim platform or MT4 that would quickly calculate the pairs with the best gap?

I couldn't find such a unicorn....but if it exists, I would surely fight valiantly for it!

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Old April 10th, 2015, 10:40 AM   #2 (permalink)
Elite Member
Futures Experience: Beginner
Platform: tos
Favorite Futures: stocks
Posts: 48 since May 2011
Thanks: 34 given, 60 received

Hi Lorraine, i'll try to..but what do you mean by "spread"?

Here's watchlist study that will plot the gap values as percent of friday close price.

def monday = GetDayofWeek(GetYYYYMMDD()) == 1;
def cprice = close(period = aggregationPeriod.DAY);
def oprice = open(period = aggregationPeriod.DAY);
plot gap = if monday then (absvalue(oprice - cprice[1]) /cprice[1]) * 100 else 0;

Last edited by growex; April 10th, 2015 at 11:19 AM.
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