Gapdetector Pro is an indicator of price gaps (hepers) on any timeframe
Price breaks, or hepathy, are areas on the graph, where the opening price of a new candle differs significantly from the closure of the previous one, leaving an unfilled space between them.
Such situations often arise after the weekend, during the release of important news or during periods of low liquidity.
Heps are considered strong market signals that can be used both for entering the market and to confirm the current trend.
There are two most popular strategies for working with hepers:
GAP Filling - trading for a return of the price to the gap;
Gap Breakout - trading in the direction of movement, if the hep is confirmed by volume and volatility .
Previously, traders had to manually monitor such moments, but now this can be automated thanks to the Gapdetector Pro indicator available for Metatrader 4 and 5.
What does the GapDetector Pro price gap indicator do
After installing the indicator of price tears to the schedule of the currency pair, it gives signals using multi -colored circles:
The indicator automatically analyzes the graph and selects two types of hepas:
A potential hep - yellow marker appears if there is a decrease in volume, an expansion of a spread or activity during a period of low liquidity .
Confirmed hep - a white marker signals a real price gap, if there is a gap between the candles without an overlap and all filters are observed.
Gapdetector Pro can work on any timeframes and is suitable for analyzing any tools - from foreign exchange steam to metals and stock indices.
Flexible indicator settings
All parameters are grouped by categories, which simplifies the configuration and adaptation to the personal strategy of the trader.
- Basic settings (basic settings)
Bars for Volume Average - the number of bars for calculating the average volume
Volume Drop Threshold (%) is the percentage of a decrease in volume at which a signal is possible
Max Spread (Points) - the maximum permissible spread
- GAP DETECTION (search for breaks)
Enable Gap Detection - Turning on/Disconnecting Hep
Gap Threshold (PIPS) - the minimum hep
Show Confirmed Gaps Only - display only confirmed gaps
- Advanced Filters (advanced filters)
Enable Volatry Filter - ATR -based plot filter
Atr Period - ATR calculation period
Minimum Volatility (ATR%) - the minimum level of volatility (as a percentage of ATR)
Enable Session Filter - Filter in Trade Sessions
Low Liquidity Start Hour / End Hour - the beginning of the beginning and end of the low liquidity period
- Alerts (alerts)
Enable Alerts - inclusion of a notification system
Alert on Potential GAP - a signal about a potential geper
Alert on Confirmed Gap - a signal of confirmed gepe
SEND Email Alert - Post notification
SEND PUSH Notification-Push notification to the mobile terminal
All signals are displayed on the graph and accompanied by visual and sound alerts. It is convenient for both scalper and medium -term traders.
How to apply Gapdetector Pro in trade
Working with the indicator is simple: after installation on the graph, you will see two types of signals - yellow (possible hep) and white (confirmed hep).
In practice, this allows you to use the following simple and effective strategy:
A yellow signal - means that conditions for the price gap appear on the market. At this moment, you should carefully watch the tool, but do not rush with the entrance.
The white signal is a confirmed gap between the candles. It is at this moment that the entrance to the market is possible.
You can:
to enter the hep, if the gap has occurred in an active market (for example, into a European or American session);
Wait for a return to the level of closing the previous candle if the gap arises in conditions of low volatility - and trade for “filling”.
The indicator independently filters the weak signals - if the volumes are too low or volatility does not correspond to the specified parameters, the signal simply will not appear. This is especially important at night or before the weekend.
Gapdetector Pro is great for both intraday trade and more calm medium -term approaches. And most importantly - he removes from the trader the need to manually look for breaks, allowing him to focus only on key points of the entrance.
Download Gapdetector Pro on MQL5
The indicator tested in the trading platform of the broker Roboforex