I want to see how much "overnight gap" is filled at the open today.
Metatrader usualy does not display price gaps since CFD brokers merge another market for lack of overnight pricing. However, based on futures there are gaps in price and I want to calculate them in MT4.
So, gap is what I call a difference in price between two time spots. 15 min candles are used. I need an input window to select which "15 min candle's CLOSE" from the PREVIOUS day will count as the "close" and I also need to be able to select which "15 min candle's OPEN" TODAY will count as a market "open".
1. So now we know how to meassure a gap.
2. Second thing that we are going to do is to meassure how much of this gap fills at the open (market trades into gap zone). *Fill=trade at the same price or better.
I need a possible input here regarding the "% of gap filled" and the "number of minutes" we are meassurring.
Something like this:
Input - Yesterday's close is at which 15 min candle: 17:15
Input - Today's open is at which 15 min candle: 9:00*
Input - Market closed the gap today of: 50%
Input - We are meassuring first: 60 minutes**
*these adjustable parameters will tell me how big is the gap (+10,+56...) and if it is up or down (like -12, +87, -3...).
**and this tells us if the market filled 50% of gap in the first 60 minutes after open. I need a simple answer here: YES or NO.
Results should be displayed in .csv file so I can study them in excel. This log should also add information about each day. Something like this:
"2014-04-25/GAP/-20/filled 50%/in first 60 min/YES"
Also, I would like to have visuals displayed on MT4 charts so I can visualy see the results. Yesterday's close & Today's open should be marked on a chart as well as: size of gap displayed in text; and a simple answer "yes or no" whether gap was filled according to input parameters.