Traders' Tips from TASC Magazine

Trade Against the Gap

To create the "Trade Against the Gap" system by Stephane Reverre in MetaStock 6.52 or higher, select System Tester from the Tools menu, click New and enter the following code:

Name: Trade Against the Gap

Enter long:
     GapLong := 3;
     GapShort := 3;
     Gap := 100*(CLOSE-Ref(CLOSE,-1))/Ref(CLOSE,-1);

     Gap <= -GapLong

Close long:
     GapLong := 3;
     GapShort := 3;
     Gap := 100*(CLOSE-Ref(CLOSE,-1))/Ref(CLOSE,-1);

     BarsSince(Gap <= -GapLong) = 1

Enter short:
     GapLong := 3;
     GapShort := 3;
     Gap := 100*(CLOSE-Ref(CLOSE,-1))/Ref(CLOSE,-1);

     Gap >= GapShort

Close short:
     GapLong := 3;
     GapShort := 3;
     Gap := 100*(CLOSE-Ref(CLOSE,-1))/Ref(CLOSE,-1);

     BarsSince(Gap >= GapShort) = 2

Click OK, then click Options, on the Testing page under Trade Price set both the Entry and Exit Price to Close and set both Delays to 0.

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