DAX Daily Gap detector

• 04/15/2020 at 11:22 PM #126339
  robertogozzi

  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.

  DAX Daily Gap detector

  // 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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  // 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

   

  2 users thanked author for this post.

  upupandaway, Al

  

  robertogozzi

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  04/16/2020 at 7:09 AM #126347
  Vonasi

  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.

  

  Vonasi

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