ST GAP Pivots

ST GAP Pivots

ST Gap PivotsIndicator is designed to search for and display the price gaps (gaps) at the junction of two candles. On the pattern there is the market, which is that the price is almost always comes back to the level where the price breaks at the opening of a new bar were formed.

The indicator displays only “open” gaps levels, ie these are the levels to which the price never came back after the break. The same indicator shows statistics on open and closed at the moment gepam. The statistics are displayed in the form of comments to the chart.

The indicator draws the line of resistance and support on the ground found gaps. For each line indicates the time within which it exists.

Input parameters:

  • Min gap size in pips (int) – the minimum size of the gap in pips;
  • Total history bars (int) – the number of bars in history, which will be searched for gaps (if you specify 0, will be displayed only emerging gaps);
  • Support Color (color) – the color that displays a support line, created on the basis of the gap;
  • Resistance Color (color) – the color of the resistance line created on the basis of the gap;
  • Label Font Size (int) – font size for a signature to the levels of support and resistance.

Recommendations for the use of the indicator

  1. Recommended to set short goals towards the nearest resistance line or wider support.
  2. It is recommended to endure a few bars before entering into a transaction towards the discovery of new resistance and support levels;
  3. In the short term the probability of working out the lines on the basis of smaller gaps, higher than the line on the basis of large gaps (for example, if the resistance line is open at the Gap at 150 pips, the testing of this line in the short term is unlikely, most likely, the price will continue to move in the direction of this gap, and return after a considerable time)
  4. It is recommended to give preference first lines, which are smaller. For example, if you open three lines of resistance and open lines Support 1, it is recommended to get up in the deal in the direction towards the support line.
  5. If on the one hand open lines of some, on the other hand there are no open lines, before entering into a transaction should wait to open the first of the line will be closed.

ST GAP Pivots

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