i-Gap Signal Indicator
Info
The i-Gap Signal Indicator is a Indicator for MetaTrader 5 that a semaphore signal indicator that forms signals when price gaps appear. This indicator was first implemented in MQL4 and published on 09.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use i-Gap Signal Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
A semaphore signal indicator that forms signals when price gaps appear.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Bands Stoch RSI Extreme Reversal Signals - another powerful indicator for MetaTrader 5 traders.
A semaphore signal indicator that forms signals when price gaps appear.Also recommended: SHK Heikin Ashi MACD Signal Arrows for MT5 - similar indicator with strong performance on MetaTrader 5.
This indicator was first implemented in MQL4 and published on 09.02.2026.
The i-Gap Indicator
The indicator generates signals based on price gaps. A price gap occurs when the opening price of a new bar is significantly different from the closing price of the previous bar, indicating a potential shift in market sentiment or a strong move.
Features:
- Detects and signals price gaps.
- Provides visual cues on the chart for gap occurrences.
- Useful for identifying potential trading opportunities associated with gap formations.
How it works:
The indicator analyzes the relationship between the closing price of one bar and the opening price of the subsequent bar. When the difference exceeds a predefined threshold, a signal is generated. This threshold can often be adjusted in the indicator's settings to suit different trading strategies and market conditions.
Usage:
Traders can use the signals generated by the i-Gap indicator to:
- Enter trades in the direction of the gap, expecting continuation.
- Identify potential reversal points if the gap is not followed by sustained momentum.
- Confirm other trading signals or strategies.
This indicator is a valuable tool for traders looking to capitalize on the price action revealed by market gaps.
You may also like: Channel Sun Signals Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_type1 draw_arrow
#property indicator_color1 clrcrimson
#property indicator_width1 4.......
⚠ 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.