The "Open Close Gap" indicator measures the gap between current bar Open and previous bar Close. We can set the reference gap height in points. The indicator can be used as an Opening Logic Condition to filter out or allow long and short entries.
Two kind of gaps:
* Positive Gap - when the current Open is higher than the previous Close.
* Negative Gap - when the current Open is lower than the previous Close.
Logical Conditions:
* Do not trade on gap - when the current gap is higher than the predefined value, the program doesn't allow long and short entries.
* Trade on gap - the program allows long and short entries only when the current gap is higher than the predefined value.
* Trade long on positive gap - the program allows long entry on a positive gap and a short entry on a negative gap.
* Trade long on negative gap - the program allows long entry on a negative gap and a short entry on a positive gap.
Chart
The indicator represent the gap as a histogram chart.
