FiveTT Gap Indicator

In Forex trading, the Open price of a new period is usually the same as the close price of the preceding one. If a new period opens at a price significantly different (higher or lower), this gives way to a Gap scenario. This suggests an imbalance in the price action. Price tends to move during the new period to cover the gap created. This move presents consistent buying and selling opportunities; hence potential to make profit.

There are two types of Gap scenarios

  • 'Gap Up' - Open price of the new period is significantly higher than close price of the preceding period. The price will tend to move lower, thereby presenting selling opportunities
  • 'Gap Down' - Open price of the new period is significantly lower than close price of the preceding period. The price will tend to move higher, thereby presenting buying opportunities

The 5TT Gap Indicator makes it easy for the trader to pick out these opportunities when they happen. The indicator provides the following features:

  1. User-friendly with only three parameters to set
  2. Can be used on all currency pairs
  3. Can be used on all timeframes
  4. Clear display of the Gap setup
  5. Display of the size of the Gap, thereby allowing traders to determine profit targets and stop loss levels
  6. Color distinction for 'Gap Up' and 'Gap Down' scenarios

The trader also gets our lifetime technical support and free future updates.


Settings

  • CandlesBack: How many bars back from the current bar should the indicator monitor? Default is 2000 bars.
  • GapSize: Minimum pips (gap) between current bar’s Open price and previous bar’s Close price before indicator recognizes as ‘Gap’.
  • UseAlerts: Selecting 'True' allows the indicator to raise an alert in the terminal once a gap situation forms. The currency pair and 'Gap' size are also displayed on the Alert window.
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THE ONLY CURRENCY STRENGTH INDICATOR BUILT ON PRICE ACTION Most currency strength meters average an oscillator, or measure how far price has travelled. But these are not accurate measures of trend, Currency Strength Matrix measures trend strength, not just if a currency price has gone up or down. Currency Strength Matrix reads market structure . For each of the 28 major pairs it finds the confirmed cycle highs and lows, and decides whether that pair is in an uptrend, a downtrend, or neither. A
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Indicators
Scalper Inside PRO helps you read the intraday trend and plan a trade before you enter the market. It is built around three exclusive strategies for a sharper read of the market. The moment a signal appears, the indicator evaluates market direction and calculates the key levels, so you see the potential entry, the expected stop-loss and several profit-taking levels in advance. Detailed performance statistics show how different instruments and strategies performed in history and help you pick ass
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