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Indicators

Index Gap Marker – daily opening gaps and fill status - indicator for MetaTrader 5

Valerio Sgro'
Valerio Sgro'
I write MetaTrader 5 indicators and Expert Advisors in MQL5, and I test them properly before delivering.
What I do:
- Custom indicators and panels (sessions, key levels, volume, volatility, multi-symbol dashboards)
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IndexGapMarker scans the daily candlesticks and draws a box for every opening gap larger than a minimum size. The box is green or red whilst the gap is open and turns grey once the price has returned to the previous close. A label shows the gap size as a percentage and its status.


Inputs: number of days to scan, minimum gap as a percentage, colours, show or hide filled gaps, labels on/off.


Notes:

- Designed for stock index CFDs with a closing session (DAX, Euro Stoxx, FTSE and similar). Indices that trade almost round the clock show few gaps

- Works on any timeframe; daily data is used for the calculation

- It is an information tool, not a trading system: it does not guarantee any profit


How to use: copy IndexGapMarker.mq5 into MQL5\Indicators (File – Open Data Folder), compile it in MetaEditor and drag it onto an index chart. H1 is a good choice.

Translated from Italian by MetaQuotes Ltd.
Original code: https://www.mql5.com/it/code/78456

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