Detecting and Signaling Weekend Gap Fills with an MQL5 Indicator
Summary
The article describes an MQL5 indicator that detects the price gap between Friday’s close and Monday’s open, tracks the gap, and signals when price has crossed back through the full gap area. It distinguishes upward-opening gaps that fill on a downward retracement from downward-opening gaps that fill on an upward move. A workflow covers detecting and recording gap boundaries, monitoring price, confirming a fill, then plotting an arrow and optionally issuing alerts. The indicator also exposes signal and fill information in buffers intended for Expert Advisors, and includes historical reconstruction and chart annotations.
The article reports that a test EA retrieved the indicator’s signals through the buffers during Strategy Tester evaluation, but it provides no quantified trading-performance evidence in the supplied text. It cautions that gaps do not always fill quickly, or at all, and that the signals should be combined with broader trade planning and risk controls. The configurable option to invert signal direction supports testing alternative interpretations of a completed fill.
Key ideas
- A weekend gap is defined by the price difference between Friday’s close and Monday’s open.
- The indicator tracks a gap until price has moved through the gap zone and then publishes a signal.
- Buy and sell arrows, alerts, and data buffers make the gap events accessible to traders and Expert Advisors.
- A signal inversion setting allows testing different assumptions about how fills relate to trade direction.
- Gap fills are not guaranteed, and the article gives no quantified evidence of profitability.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.