Gap Study Metastock Indicators Forex Trading Systems - XEATrade - Metatrader, Metastock, Tradestation, Amibroker

Description: The MetaStock formulas to calculate these percentages are shown below. The first input is the minimum gap (e.g., 1%), and the second inputis the gap increment(e.g., 1%, which would give you a range of 1-2%). To calculate gaps down, change the percentage to a negative.

Gap Study - Minimum

MinGap := Input("Minimum gap to consider (%)",-10000,10000,1);
GapIncrement := Input("Gap Increment (%)",0,100,1);
LookingForGapUp := MinGap >= 0; LookingForGapDown := MinGap < 0;
{ Gap percentage }
Gap := (OPEN - Ref(CLOSE,-1))/Ref(CLOSE,-1)*100;
NumGaps := If(LookingForGapUp, Cum(Gap >= MinGap AND
Gap < MinGap + GapIncrement),
If(LookingForGapDown, Cum(Gap <= MinGap AND
Gap > MinGap - GapIncrement),0));
If(LookingForGapUp, Cum(If(Gap >= MinGap AND
Gap < MinGap + GapIncrement, If(CLOSE >= OPEN, +1,0),0)),
If(LookingForGapDown, Cum(If(Gap <= MinGap AND
Gap > MinGap - GapIncrement, If(CLOSE <= OPEN, +1, 0),0)), 0))/NumGaps*100;

 
 


Gap Study - Increment

MinGap := Input("Minimum gap to consider (%)",-10000,10000,1);
GapIncrement := Input("Gap Increment (%)",0,100,1);
LookingForGapUp := MinGap >= 0; LookingForGapDown := MinGap < 0;
{ Gap percentage }
Gap := (OPEN - Ref(CLOSE,-1))/Ref(CLOSE,-1)*100;
NumGaps := If(LookingForGapUp, Cum(Gap >= MinGap AND
Gap < MinGap + GapIncrement),
If(LookingForGapDown, Cum(Gap <= MinGap AND
Gap > MinGap - GapIncrement),0));
If(LookingForGapUp, Cum(If(Gap >= MinGap AND
Gap < MinGap + GapIncrement, If(LOW <=Ref(CLOSE,-1), +1,0),0)),
If(LookingForGapDown, Cum(If(Gap <= MinGap AND
Gap > MinGap - GapIncrement, If(HIGH >=Ref(CLOSE,-1), +1, 0),0)), 0))/NumGaps*100;

 
  

Gap Study - Down 
MinGap := Input("Minimum gap to consider (%)",-10000,10000,1);
GapIncrement := Input("Gap Increment (%)",0,100,1);
LookingForGapUp := MinGap >= 0; LookingForGapDown := MinGap < 0;
GapYesterday := (Ref(OPEN,-1) - Ref(CLOSE,-2))/Ref(CLOSE,-2)*100;
NumGapsthruYesterday := If(LookingForGapUp, Cum(GapYesterday >= MinGap AND
GapYesterday <
MinGap + GapIncrement), If(LookingForGapDown, Cum(GapYesterday <= MinGap AND
GapYesterday >
MinGap - GapIncrement),0));
If(LookingForGapUp, Cum(If(GapYesterday >= MinGap AND
GapYesterday < MinGap + GapIncrement,
If(OPEN > Ref(CLOSE,-1), +1,0),0)),
If(LookingForGapDown, Cum(If(GapYesterday<= MinGap AND
GapYesterday > MinGap - GapIncrement,
If(OPEN < Ref(CLOSE,-1), +1, 0),0)), 0))/NumGapsthruYesterday*100;

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