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Auto Draw Gap Lines

by Jan Christensen, 2212 days ago
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This function automatically draws lines for non-closed gaps; - both gap down and gap up. It takes one parameter named "LookingBack" that indicates the numbers of bars to backward scan, e.g. 100 means that the function scans 100 bars backward from last bar. If the parameters is set to zero, all bars will be scanned for gaps. Note that this in some situations with many gaps can be a little time consuming
The function returns an array that indicates non-closed gaps. The return values are: +1 for non-closed gap up, 0 for no gap and -1 for non-closed gap down.
The return values can for example be used in combination with the standard GapUp and GapDown functions to draw text information's.
gapset=AutoDrawGapLines(0);
y2 = iff(GapUp() and (gapset == 1),1,0);
y3 = iff(GapDown() and (gapset == -1),1,0);
plotarrow(y2, "Gap Up", belowlow, colorblue);
plotarrow(y3, "Gap Down", abovehigh, colorred);


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Type: Trading Indicator

Object ID: 1378


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