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I am trying to plot unbroken gaps but because GapUp() / GapDown() is a True/False statement I'm having a hard time getting any useful plots. I've concentrated my effort around LowestSince() and ValueWhen() but both of these use Nth as a part of their formula. This gives me a problem due to the fact that I don't know - and never will know - which gaps a correction takes out. So I might have a chart with 2 unbroken gaps out of 7 gaps total and they don't even have to be the last two gaps... Thanks,
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Currently, the MetaStock formula team is not aware of a way to do this. It is their opinion that this would require an external function DLL.
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Code:
Gap resistance
rng:=Abs(H-L);
GS:=If(GapUp(),L-Ref(H,-1),If(GapDown(),Ref(L,-1)-H,PREV));
A:=If(GapUp()=true AND GS>rng*.7,(L-Ref(H,-1))*.5+Ref(H,-1),If(
GapDown()=true AND GS>rng*.7,(Ref(L,-1)-H)*.5+H,PREV));
A;
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Dear Henry1224, Unfortunately your solution doesn't solve my problem as it still shows all gaps also those that's closed out. Sorry,
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Robin, My indicator only shows gaps that are 70% or larger than the range of the bar .
Gap up or gap down will show all gaps. This will occur even if the gap is 1 cent.
The value that my indicator plots is the middle of the gap
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Henry, your indicator is a good one but right now the main goal is to identify gaps that hasn't been taken out by a close no matter what the size of the gap is. When I solve this problem I can then move on to the size of the gap. So how do I identify gaps that hasn't yet been taken out by a close? Right now (and despite of MetaStock's feedback) I am playing around with the Alert() and Barsince() functions...
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I would use the cross function and Cum function
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The cross function was given but why cum()?
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Cum(Cross(C,"Gap value"))=0
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