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This slide speaks about the significance of microgaps. Al shows a few microgaps here which he defines as the high of the bar prior to the trend bar and the low of the bar after the trend bar (in a bull trend). However, is that a pretty loose definition? As in the photo, the first gap is measured to the most recent swing high before the breakout trend bar (which is two bars preceding the trend bar) and in the 3rd gap drawn from the left, it is measured from the high of the prior bar to the high of the trend bar itself?
thanks
The definition is right but the 3rd gap in the picture is wrong (good catch, anyway, it is a subtle detail), the green box should be at the open of the bear bar, not at the high of the bull bar, though most of the time those prices are the same.
Please, @richardhk, have a look on that when possible.
>the green box should be at the open of the bear bar
should it be at the high of the bear bar?
could you please show the correction in picture. I am not following it correctly.
This slide speaks about the significance of microgaps. Al shows a few microgaps here which he defines as the high of the bar prior to the trend bar and the low of the bar after the trend bar (in a bull trend). However, is that a pretty loose definition? As in the photo, the first gap is measured to the most recent swing high before the breakout trend bar (which is two bars preceding the trend bar) and in the 3rd gap drawn from the left, it is measured from the high of the prior bar to the high of the trend bar itself?
thanks
Agree on the definition of "micro gap" made from at least 3 bars. The other gaps in the slide look strange and would be good if Richard looks into it. Although one could argue that since any breakout/trend bar is also a form of gap... then can consider the other ones as very small, very short lived gaps that exist briefly before tested by the next bar and become either smaller or completely closed.
If you click on the gif below, you'll see a simulation of an auto gap finder I'm working on for our Telegram group. It begins by finding breakouts, then evolves them into micro gaps or bodygaps (negative gaps) and either expands or contracts them until closed.
Cheers,
CH
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