i-gap: Gap Trading Indicator
Info
The i-gap: Gap Trading Indicator is a Script for MetaTrader 4 that i-gap indicatorthis indicator assists traders in identifying and capitalizing on price gaps (gaps). The indicator provides trading signals, indicating entry timing and direction.
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 i-gap: Gap Trading 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
i-gap IndicatorThis indicator assists traders in identifying and capitalizing on price gaps (GAPs).
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: automated economic calendar trading advisor - another powerful script for MetaTrader 4 traders.
i-gap IndicatorThis indicator assists traders in identifying and capitalizing on price gaps (GAPs).
Also recommended: rsi and cci trading strategy - similar script with strong performance on MetaTrader 4.
The indicator provides trading signals, indicating entry timing and direction. The signal logic is based on the tendency for most GAPs to close, meaning the price returns to the level from which it gapped. A key feature of this indicator is its ability to detect gaps between the pre-previous high and the previous low (a sell signal) or between the pre-previous low and the previous high (a buy signal).
Configurable parameters include:
sizegap=5: The size of the GAP in points.
numberofbars=10000: The number of bars for calculation (0 means all bars).
You may also like: Trading Panel with Indicator Signals - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 LightBlue
#property indicator_color2 Salmon
#property indicator_width1 1
#property indicator_width2 1
extern int SizeGAP = 5; // Размер ГЭПа
extern int NumberOfBars = 10000; // Количество баров обсчёта (0-все).......
⚠ 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.