
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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