The Hidden Gap Indicator
- Indicadores
- Stephen Reynolds
- Versión: 1.0
- Activaciones: 20
This Indicator is based on the Indice gaps between todays open price and yesturdays closing price. On Metatrader these are not shown as we only see a 24hr chart. If we want to know the gap between the open at 16:30 and yesturdays close at 23:30 on the SP500 this EA will reveal the gap. On Indices these types of Gap close approximately 60% of the time within the same day and is demonstrated on the panel which records previous gap closures and provides to the user a statistical proof of gaps closing for any Indice market its applied to.
But also we need to know exactly when the gap will close. This I have discovered can be found when price breaks through a previous low for a down gap or breaks through a previous high for an up gap. Think about this! If price is breaking a new low and there's been a down gap it means price is bearish and will probably continue selling off till price reaches the close. Remember! As proven these gaps close 60% of the time. You can see all this for your self on backtest!
Thats how this EA gets its prediction of price direction and gives this system perfect timing for a truly remarkable strike rate.
When a gap occurs it draws a line projecting outward from yesturdays close to todays open then draws an entry arrow followed by 2 take profit lines based on the distance of current open to yesturdays close.
For a more detailed explanation as to the methodology behind this Indicator please click here!
For the Free MT5 Indicator Version click here!
For MT5 EA Version click here!
For MT4 EA Version click here!
Features :
- No Black Box EA! Open system clear to see how and why it works
- Unique gaps revealed, hidden by 24hr Chart
- High Probability trades! Indice Gaps combined with HiLo Break for solid entry
- Prove efficacy of system with stats on panel
- Follow the smart money
- Trading shouldnt be emotional but people are. EA's take the emotions away
- No martingale, grid averaging or no stop loss trading.
Settings :
Volume & Gap Size
- Under Average Volume - If true will only signal on under average volume
- Under Average Gap Size - If true will only signal on under average gap size
Start & End Hour
- Market Open - Todays Open
- Market Close - Yesturdays Close
Trade Settings
- HiLo Break Switch - If true will signal only when a high or low break occurs RECOMMENDED Default True
- Pre Open Signal - If we want to signal before the open. Sets by the hour EG 2 = 2hrs before the open
- Lookback for Highest/Lowest - The amount bars we count from current bar to recognise highest lowest price RECOMMENDED Default 4
- Place we start finding Fractal - The bar we start counting our new highest high or lowest low RECOMMENDED Default 2