Opening GAP Indicator to be used in MARKET ANALYZER

[fragalles]

Hello

i just wanted to know if there is an opening gap indicator that can be used in the MARKET ANALYZER to show how big the gap up or down is?

If not can someone familiar with ninjascript write this for the ninjatrader community, should very easy to do (opening price-closeing price)?

cheers
peter

[NinjaTrader_Dierk]

No need for an indicator. Please check out the NetChange market analyzer column.

[blaporte]

NetChange in Market Analyzer does not work with Zen-Fire as data feed. Works fine with eSignal

[NinjaTrader_Dierk]

Thanks for reporting .We have this on our list of future improvements yet.

[blaporte]

Net Change in the Market Analyzer is now being populated. Zen-fire data feed.. Started working after upgrade to latest 6.5 Beta version on 1/114/07....

Thanks

[NinjaTrader_Dierk]

Which instrument?

[NinjaTrader_Dierk]

(edited post since incorrect): I just tested NT6.5 and NetChange works as expected. Are you NT6 still (NetChange will not work for Zen)?

[tjendra]

No need for an indicator. Please check out the NetChange market analyzer column.

If I want to stop my strategy from working for the next 5 bars if the opening gap is more than +/-2%, how should I do this? Anyway to check for opening gap within strategy development?

[NinjaTrader_Bertrand]

Unfortunately not tjendra, you would need to code this out yourself and create filter rules for this.

[tjendra]

Can you provide some ideas on how to prevent any entries for the next 5 bars?

[NinjaTrader_Bertrand]

Hi, you could use the ideas in this reference sample and wait for a certain time after the open to start executing your trades - http://www.ninjatrader-support2.com/vb/showthread.php?t=3226

You can also work with BarsSinceSession for this - http://www.ninjatrader-support.com/HelpGuideV6/BarsSinceSession.html

[tjendra]

Thanks Bertrand, that helped.

[mikeklein]

How does NetChange indicate a gap ? Surely it only measures change irrespective of whether it was caused by a gap or simple move in price ?

[NinjaTrader_Bertrand]

How does NetChange indicate a gap ? Surely it only measures change irrespective of whether it was caused by a gap or simple move in price ?

Your understanding is correct.

[mikeklein]

In that case I dont see whay Dierk suggested NetChange instead of an indicator to the original poster. Seems confusing to me. If you want an indicator for a gap NetChange wont do that.