Logic for GapUp() & GapDown() functions

Logic for GapUp() & GapDown() functions

Obuli Govindaraju
2012-01-18 16:09:15

What is the logic for Logic for GapUp() & GapDown() functions?

When I plot a using "PlotArrow(GapUp(),"Up",BelowLow,colorBlue)". I am not seeing the results I expect to see.

For example does GapUp() returns 1 only when a price gaps up and the gap is not closed the same day???

QuantShare
2012-01-19 05:27:01

Best Answer

Yes, that is what GapUp indicator returns.

It returns 1 if today's low is higher than yesterday's high.

Are you looking for a different indicator?

Obuli Govindaraju
2012-01-19 11:08:45

That is interesting because I thought a gap up is defined if today's open is greater than yesterday's close.

umair
2013-02-06 17:26:05

http://www.investopedia.com/terms/g/gap.asp

umair
2013-02-06 17:26:50

I agree w/ Obuli

umair
2013-02-06 17:34:35

But I think this could be the solution:

HistoPrice(_Open,0) > HistoPrice(_close,1); for Gap up

HistoPrice(_Open,0) < HistoPrice(_close,1); for Gap down

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