Gaps & Gapclosing (Long Running Gaps)

Zigo · Fri, 28 Aug 2020 16:13:22 +0000

I want to know more about “GAPS”. Today I have used a 11 tics graph on the DJ, to evaluate one of my own indicators. Instead of evaluating the Indicator I saw a gap(down) at 15u54:54 (price 28590.59). At about 16u00, there were several tries to close the gap, but gapclosing failed. About 2 hours later, the gap has been closed at 17u37:17 . The lowest low in between (opening the gap and closing the gap) was 28484, more than 100 pips. There was a gap in the opposite direction (gap up) at 28520 points at 17u04:42, the gap is stil open. If the gap will be close, it would be at this moment about 90 pips.

This topic has 26 replies, 3 voices, and was last updated 4 years ago by Zigo.

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

Zigo

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)

Zigo

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

Zigo

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

Zigo

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

Zigo

How long does it take to close the gap?

Zigo

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

robertogozzi

I fear I cannot be of any help here.

robertogozzi

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

GraHal

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.

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09/15/2020 at 3:01 PM #144355

Zigo

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

03 23 2020 (0.1 point)
04 03 2020 (138.5 points)
09 11 2020(132 points)

Zigo

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09/15/2020 at 7:40 PM #144371

GraHal

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! 🙂

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

Zigo

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).

Zigo

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09/16/2020 at 9:54 AM #144398

Zigo

//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

//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

Zigo

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09/17/2020 at 9:55 AM #144512

Zigo

The 11 september gap has been closed

Zigo

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

Zigo

Gap this morning.

Zigo

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

Zigo

Gap closed in the afternoon

Zigo

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