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Showing results for tags 'gap'.
Found 7 results
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Half Gap description: this indicator would draw a line half way between previous day's close and today's 1st bar open e.g. gap up opening: prev close = 100, today's open = 102 a line will be drawn at the half way point 101 gap down opening: prev close = 100, today's open = 98 a line will be drawn at the half way point 99 if the day's open is the same as previous close, a line will be drawn at the previous close note: This indicator was written in MultiCharts I have not tested it in TradeStation or other EasyLanguage compatible programs For importing instructions, please see your software's users manual Half Gap.txt Half Gap (MultiCharts).pla
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I am interested in the mechanics of the forex market. Questions every new trader should be asking: What moves the the market? Yes, yes, I have heard all the pat answers. But they are all cliches. Does anyone really know? Where do those pretty lines and numbers come from? Yes, yes, I know they come from the liquidity provider. But where does the liquidity provider get them? He does not just make them up. Are there really people somewhere bidding and asking? Can I go there and watch them? I am sure that the big banks, hedge fund managers, and financial institutions cause most of the activity. OK. So what are they trying to do? Are they acting or reacting? Are they watching the same charts I am? Are their motives different from mine? Are they trying to accomplish something more that just making a profit? Why would a trader care if the price went up or down? I certainly do not care. I quickly change sides whenever the trend changes. Often I have several open trades; some long, some short. Can you give me an example of a trader who actively and aggressively wishes the price would go up or down? (Before he enters a trade, of course.) Hmmm! I just watched a gap up of 40 pips. Who pushed the buttons to make that gap appear on my screen? Whoever it was, has a different trading platform than I do. I do not see any provision on my platform where I can create a gap up or down. I am assuming that a human created that gap, or am I trading against a computer? I have got to know who is on the other side of my computer screen. Wow! I just saw the spread jump to 20 pips. Who decided that it ought to be that great? What is his name? Where does he live? Who gave him permission to widen the spread? Are there really mystical bears fighting with a heard of bulls to lower the price of their favorite currency? Or is this just a myth like Santa Clause? Let's pretend there really are bulls and bears. My question is; why do they care? What are they fighting for? And if the bulls manage to raise the price a few pips, how did they do it? Until I understand why the bears are trying to drive prices down and why the bulls are frantically trying to elevate prices, I have no business in this battle. I will get killed in the cross fire. Any hope of success depends on some real answers, not just bull.
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Hi I tried to create a new indicator for RS. Actually i tried to modify an old indicator I dont know what is the problem.... Any help will be welcomed Thanks [sameTickOpt=True]; // Noam Gap Size // // Data1 must be intraday -- Data2 not required Input: AvgLength ( 20),// length to determine Daily Range Average Range_Length(20); Var: Avgvalue ( 0 ), YH ( 0 ), YL ( 0 ), TH ( 0 ), TL ( 0 ), {Hsum ( 0 ), Lsum ( 0 ), } Yrange ( 0 ), Trange ( 0 ), TotalRange ( 0 ), { StartPoint ( 0 ), EndPoint ( 0 ), sdate ( 0 ), edate ( 0 ), YHL ( 0 ), YLL ( 0 ), THL ( 0 ), TLL ( 0 ), TopenL (0), YcloseL (0),} GapPercent (0), Gap (0), GappercentGeneral (0), TYclose (0), TTopen (0), Decp ( 0 ), DIFER (0), Yclose (0), Topen (0), vRange(0), GapPercentLength (0), LastBar (false); YH = HighD(1); YL = LowD(1); TH = HighD(0); TL = LowD(0); Yclose= closed(1); Topen= openD (0); // this section to calculate the Average without requiring Daily Symbol as Data2 TotalRange = 0; For Value1 = 0 to avglength-1 begin TotalRange = TotalRange+(HighD(value1)-LowD(value1)); end; If AvgLength <> 0 then Avgvalue = TotalRange/AvgLength; // **** Trange = TH-TL; Yrange = YH-YL; difer= Avgvalue-Trange; Gappercent= (Topen-Yclose)/(yh-yl)*100 ; gap=topen-yclose; Gappercent= (Topen-Yclose)/(yh-yl)*100 ; GappercentGeneral=(Topen-Yclose)/last*100 ; vRange = Average((High-Low),Range_Length); GapPercentLength= (Topen-Yclose)/(Avgvalue)*100; plot1(Gappercent, "Gappercent"); plot2 (Avgvalue, "Avgvalue"); plot3 (difer, "difer"); plot4 (Gap, "gap"); {Text_setstring(Text_ID1,numtostr(Avgvalue,decimal) +" :Avg_Rg_ "+numtostr(AvgLength,0) +" " +numtostr(TRange,decimal)+" :T_Rg " ); Value1 = TextLocale(Text_ID1,placementholder,Avg_Color, percent); Text_setstring(Text_ID4,numtostr(DIFER,decimal)+" :Difer"); Value1 = TextLocale(Text_ID4,placementholder,DIFER_Color, percent*spreadfactor*.6); Text_setstring(Text_ID5,numtostr(GapPercentLength,decimal)+" :G "+numtostr(Range_Length,0) + " R %" +" " +numtostr(Gap,decimal)+" :G_Sz"); Value1 = TextLocale(Text_ID5,placementholder,TodayColor, percent*spreadfactor*1); }
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Shifted There is a school of thought that today's price action is just a continuation of yesterday's. ...and that if you shift today's price bars so that today's opening price matches with yesterday's close, you will see a continuation of yesterday's price action. This indicator does just that: it will shift today's price bars by the open/close difference. Note: this chart is for price action reference only. Please don't trade with this chart or you might get a very disappointing fill. It is recommended that you cover up the price scale when you read this chart. Shifted.txt Shifted_(MultiCharts).pla
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Is anyone familiar enough with some of the features of the TWS API from Interactive Brokers ? Here's what I'm trying to do: 1) From a list of 1100 stocks, at the OPEN at 9:30am EDT, determine which from this group have GAPPED (open > previous high). It doesn't sound difficult, but it's tough to do with a DDE quote link....too many symbols....it would hang at the open ! 2) What I need is a customized SCANNER that runs at 9:30 am and then merges the GAP list in the universe of stocks to those in the group of 1100. IBI's current scanner does not permit custom scans...only their presets are supported. I looked at Yahoo's scanner, but it's Java-based. I need the raw API so I can do this within Excel. I know Tradestation's Radarscreen can do this, but we can't run that platform. Sheesh....this sounds so SIMPLE....am I missing something ? Any ideas greatly appreciated !
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Can anyone share their experience on trading the opening gap? Alot of traders mention this and seems like a high probability trade. Very interested in hearing your experiences and strategies. Thank you
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A gap fill will also act as a line of resistance or support. In this example, notice how the gap fill acted as a pivot and prices dropped for a quick 40 points. This is an opening gap setup. You have to be quick to pull the trigger.
