Gap Identifier tool

Optuma Forums Feature Requests Gap Identifier tool

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  • #58067
    AvatarJeffrey A.
    • Topics: 4
    • Replies: 7
    • Posts: 11

    Hi,

    I often thought if Optuma had a gap analyzer tool that it would be useful on a chart layout.

    For example, open/unfilled gaps could be shown visually with a color-specific horizontal line or shaded region. Vice-versa, closed/filled gaps would have an option to display with separate color.

    I was reminded of this by a tweet today I saw, see attached.

    Additionally, if there were script functions, they would be useful in the signal tester. Example: what are results of a signal if there is an open gap below current price. Etc

    OpenGapBelow (true/false)

    OpenGapAbove (true/false)

     

    Jeff

    • This topic was modified 1 week, 6 days ago by AvatarJeffrey A..
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    #58083
    DarrenDarren
    • Topics: 53
    • Replies: 396
    • Posts: 449

    Hi Jeff,

    I suspect those horizontal lines may have been drawn manually, although we can use the following to identify gaps:

    Gap up: OPEN() > HIGH()[1] and LOW()>HIGH()[1]

    Gap down: OPEN() < LOW()[1] and HIGH()<LOW()[1]

    These will identify individual bars, as the per the Show Bar tools here:

    Capture

    However, we could then draw the price levels using a Show Plot to see if they were crossed. Here’s the levels for gap ups:

    Capture

    1 user thanked author for this post.
    #58125
    MathewMathew
    • Topics: 28
    • Replies: 1,335
    • Posts: 1,363

    Hi Jeff,

    Leave this with us – it won’t make 1.6 but it is something we can look at for 1.7.

    The key issue will be to only show unfilled gaps – or show the zone until it gets filled.

    All the best

    Mathew

    1 user thanked author for this post.
    #58175
    AvatarJeffrey A.
    • Topics: 4
    • Replies: 7
    • Posts: 11

    Darren – thanks for these scripts on gaps!

    Mathew – Yes, I agree its the unfilled gaps to identify.   Thanks for considering this! : )

     

    Jeff

     

     

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