Opening Gap Level
- Indicatori
-
Ich Khiem Nguyen
👋 Benvenuto su Alpha On Chart
Sto sviluppando Alpha On Chart come un ecosistema di supporto al trading per trader XAUUSD e utenti MT5.
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🔥 VIP MEMBER - Versione: 1.0
- Attivazioni: 10
Section 1: Context and Core Value
Systematic Opening Gap Retest and Session Momentum Validation
Traders frequently face execution challenges when navigating opening gaps and early session volatility. Entering immediately at the market open often exposes positions to rapid gap-fill pullbacks or erratic liquidity wicks. Conversely, hesitating while price tests structural opening boundaries can lead to chasing exhausted moves near session extremes. Without objective validation that an opening imbalance has formed effective support or resistance, timing trend continuation remains inconsistent.
This indicator is engineered to identify structured reaction zones around opening gaps. Instead of subjective guesswork, the algorithm maps gap boundaries, isolates clean retests, and validates setups as price rejects the gap threshold and prints directional continuation on closed-candle momentum. This framework filters out early-session noise and isolates valid directional flow.
The tool is optimized for active market sessions and liquid instruments characterized by substantial volume expansion and clear directional follow-through across multiple timeframes.
Section 2: Entry Logic and Trade Management
Visual BUY Confirmation:
- Context: Price establishes an upward opening gap and retraces toward the upper boundary of the gap zone.
- Rejection: Price tests the boundary, rejects lower levels, and prints a bullish expansion candle closing firmly above the gap reference.
- Execution point: The signal confirms strictly upon candle close; the open of the subsequent bar serves as the execution reference.
Visual SELL Confirmation:
- Context: Price establishes a downward opening gap and rallies toward the lower boundary of the gap zone.
- Rejection: Price tests the boundary, rejects higher levels, and prints a bearish expansion candle closing firmly below the gap reference.
- Execution point: The signal confirms strictly upon candle close; the open of the subsequent bar serves as the execution reference.
Protective Stop Loss Placement:
- The system automatically anchors a protective Stop Loss reference beyond the recent structural rejection swing.
- A configurable volatility buffer provides additional clearance against minor spread fluctuations and normal intraday volatility.
Four Tiered Profit Targets:
- TP1 (0.5R): Structured for rapid risk reduction and early partial scaling frameworks.
- TP2 (0.8R): Standard milestone designed to capture balanced intraday momentum.
- TP3 (1.2R): Full swing target capturing expanded directional waves.
- TP4 (2.0R): Extended target engineered to track sustained session trend continuation.
Closed-Bar Signal Logic:
- Signals are calculated and fixed strictly upon the close of the setup bar.
- Signal markers and projected price levels do not recalculate, shift, or disappear once the bar has closed.
All-in-One Trading Toolkit on MT5
Purpose-built for identifying opening gap retests and session momentum transitions across liquid markets.
Built to support your trading workflow: multi-symbol screening, multi-timeframe confirmation, transparent Entry-SL-TP visual structures, and on-chart historical backtesting.
Multi-Symbol and Multi-Timeframe Scanner
Avoid opening dozens of separate charts.
The integrated MTF SCAN dashboard monitors multiple assets simultaneously across:
M15, M30, H1, H4, D1
Dashboard overview:
- Active Signal Discovery: Shows currently active BUY/SELL setups.
- Signal Status Tracking: Displays basic status of tracked signals (active, near TP, near SL).
- Higher Timeframe Confluence: Highlights when a higher-timeframe trend aligns with a lower-timeframe trigger.
- Market Bias Summary: UP, DOWN, or FLAT reading based on the indicator's own trend filter.
- One-Click Navigation: Click any dashboard cell to switch your active chart to that symbol and timeframe.
Trade Plan Visualization: Entry, Stop Loss and 4-Tier TP Ladder
A full plan displayed on the chart rather than a single alert:
Entry -> Stop Loss -> TP1 -> TP2 -> TP3 -> TP4
- Visual risk/reward zones projected directly onto your candles.
- Basic lifecycle status tracking (Active, TP Hit, SL Hit).
- Non-Repaint Design: Signals lock once the bar closes and do not recalculate, shift, or disappear afterward. This describes the calculation logic only and does not imply any particular outcome.
Signal Filtering (Signal Brake)
Sideways consolidation and two-sided liquidity wicks can generate repeated false signals. The Signal Brake logic is intended to reduce this:
- Limits rapid BUY/SELL flip-flopping in tight consolidation ranges.
- Restricts new same-direction signals while a prior setup is still active.
- Requires a minimum R-distance before the next signal can trigger.
On-Chart Historical Backtest Panel
A built-in panel summarizes how signals performed on historical data for the current settings:
- Historical hit-rate breakdown across TP1, TP2, TP3, and TP4.
- Sample size shown for the configured lookback period.
- Highlights which TP level had the best historical hit-rate for that sample.
- A simple sample-size indicator to help judge statistical relevance.Note: these figures reflect past price data for the tested symbol, timeframe, and settings only. Past results do not guarantee future performance.
Multi-Channel Alerts
Stay informed while away from the chart:
- MT5 Desktop pop-up notifications.
- Audio alerts (.wav).
- Push notifications to the MT5 mobile app via MetaQuotes ID.
Interface
Designed to stay out of the way of your chart:
- 3 size presets: Small (S) / Medium (M) / Large (L).
- One-click minimize and expand toggle.
- Draggable panel that remembers its position across timeframe changes.
Suited For Traders Who Want To:
- Pinpoint structured retest reactions around key opening gap boundaries.
- Avoid low-probability trades caused by unconfirmed early session noise.
- Position protective Stop Loss levels systematically around verified rejection swings.
- Manage trade lifecycles using an objective 4-tier risk-to-reward target model.
- Screen multiple instruments and timeframes simultaneously for session gap setups.
- Review historical signal metrics and statistical distributions directly on the chart.
Support and Free Trial
A free demo version can be tested in the Strategy Tester and on a demo chart before purchase, through the standard MQL5 Market demo feature.
Want to try the full version before buying? Message me and I'll set you up with a short-term full-feature trial license — just send a message with your account details.
For setup questions or technical support, feel free to send a message through my MQL5 profile.
