that's what the old 15 min gap rule always said, you draw a
horizontal line on the low of the first candle, then draw a
horizontal line on the 15 min candle high, if you fail to follow
through past the 15 min high, it's negative, if you break the 1st
bar low, it's of course negative as well
so yes obviously today the gap indicator showed a negative bias
by not breaking the 15 min high and closing below it, and then
again by closing below the opening bar low
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that's what the old 15
Gap Indicator?
Posted by matt on 30th of Sep 2010 at 11:08 am
that's what the old 15 min gap rule always said, you draw a horizontal line on the low of the first candle, then draw a horizontal line on the 15 min candle high, if you fail to follow through past the 15 min high, it's negative, if you break the 1st bar low, it's of course negative as well
so yes obviously today the gap indicator showed a negative bias by not breaking the 15 min high and closing below it, and then again by closing below the opening bar low