Half Gap


description:
this indicator would draw a line half way between previous day's close
and today's 1st bar open
e.g.
gap up opening: prev close = 100, today's open = 102
a line will be drawn at the half way point 101

gap down opening: prev close = 100, today's open = 98
a line will be drawn at the half way point 99

if the day's open is the same as previous close,
a line will be drawn at the previous close






note:
This indicator was written in MultiCharts
I have not tested it in tradestation or other EasyLanguage compatible programs
For importing instructions, please see your software's users manual

[jvontop]

Is this script for tos? If not do you offer formulas for tos ?

thanks

[Tams]

Originally Posted by jvontop »

Is this script for tos? If not do you offer formulas for tos ?

thanks

you can start with your software's user manual...

[jvontop]

I have read tos user manual, How is that relevant to my question? Do you offer tos scripts? A yes or no answer would be great...

[Tams]

here's an updated version,

it uses PLOT instead of Trendline...

it retains the previous day's Half Gap plots,
so that you can review multi-days' half gap performance.

enjoy !

29.15

[WorldTrader]

Tams,
Thanks, I saw the reference on TOS. I also use tradestation. I assume that there is no strategy for that in TS? Is MultiCharts free, I have never used them? Just Meta, Ninja and TS and TOS.

[Tams]

Originally Posted by WorldTrader »

Tams,
Thanks, I saw the reference on TOS. I also use tradestation. I assume that there is no strategy for that in TS? Is MultiCharts free, I have never used them? Just Meta, Ninja and TS and TOS.

MultiCharts is paidware.

What kind of strategy you have in mind?
can you outline your logic in programmable detail?

[WorldTrader]

I was refering to your Multi Charts code on the Half Gap. I didn't know if it was programmed for TS.

Platform: MultiCharts Rating: Licence: User defined
Released: 03-30-2010 Last Update: Never Installs: 4

Re-useable Code Translations
No support by the author.


Half Gap


description:
this indicator would draw a line half way between previous day's close
and today's 1st bar open
e.g.
gap up opening: prev close = 100, today's open = 102
a line will be drawn at the half way point 101

gap down opening: prev close = 100, today's open = 98
a line will be drawn at the half way point 99

if the day's open is the same as previous close,
a line will be drawn at the previous close

[Tams]

Originally Posted by WorldTrader »

I was refering to your Multi Charts code on the Half Gap. I didn't know if it was programmed for TS.

Platform: MultiCharts Rating: Licence: User defined
Released: 03-30-2010 Last Update: Never Installs: 4

Re-useable Code Translations
No support by the author.


Half Gap


description:
this indicator would draw a line half way between previous day's close
and today's 1st bar open
e.g.
gap up opening: prev close = 100, today's open = 102
a line will be drawn at the half way point 101

gap down opening: prev close = 100, today's open = 98
a line will be drawn at the half way point 99

if the day's open is the same as previous close,
a line will be drawn at the previous close

MultiCharts uses an extended version of EasyLanguage.
most of MultiCharts' codes would work in tradestation.

Give it a try... and let us know how it works out.