Technical Studies Reference


Extend Bar Gap Until Future Intersection

A bar gap occurs whenever two consecutive bars do not overlap. If a bar gap occurs such that the next consecutive bar is above the previous bar, then a horizontal line is drawn from the High price of the previous bar to the right until it intersects another bar. If a bar gap occurs such that the next consecutive bar is below the previous bar, then a horizontal line is drawn from the Low price of the previous bar to the right until it intersects another bar.

Inputs

  • Display Value Label: When this Input is set to Yes, each horizontal line is labeled with the price to which it corresponds.
  • Name Label: When the user enters a text string for this Input, each horiztonal line is labeled with that string.
  • Compare to Open to Close Range Only: When this Input is set to Yes, only the part of the bar from Open to Close is used for comparison to the next consecutive bar for determining overlap. This changes the prices at which the horizontal lines are drawn. If a bar gap occurs such that the next consecutive bar is above the previous bar, then a horizontal line is drawn from the maximum of the Open price and the Close price of the previous bar to the right until it intersects another bar. If a bar gap occurs such that the next consecutive bar is below the previous bar, then a horizontal line is drawn from the minimum of the Open price and the Close price of the previous bar to the right until it intersects another bar.

*Last modified Friday, 21st April, 2017.