Gap Indicator
Info
The Gap Indicator is a Script for MetaTrader 4 that the indicator visually displays gaps on the chart between the open/close price of the current bar and the close/open price of the previous bar. In the settings, you can specify the gap size in points for display, as well as the color and thickness of the lines.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Gap Indicator
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
The indicator visually displays gaps on the chart between the open/close price of the current bar and the close/open price of the previous bar.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: notches indicator - another powerful script for MetaTrader 4 traders.
The indicator visually displays gaps on the chart between the open/close price of the current bar and the close/open price of the previous bar.Also recommended: high n indicator - similar script with strong performance on MetaTrader 4.
In the settings, you can specify the gap size in points for display, as well as the color and thickness of the lines.
Source Code
#property copyright "Copyright © 2014, AST"
#property link "Russia"
#property indicator_chart_window
#property description "Educational code - RobotFX www.robotfx.org"
#property strict
extern int SizeGAP = 2; // Размер ГЭПа
extern color ColorUp = clrBlue;
extern color ColorDown = clrRed;
extern int LineWidth = 3;
#define PREFIX "GAP_" // Префикс графических объектов,.........
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.