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MT4 Trading the GAP With Excel

  • #1
  • First Post: Edited Mar 7, 2017 3:46pm Oct 8, 2015 10:00pm | Edited Mar 7, 2017 3:46pm
Hello and Welcome.

This is for discussion of the Excel GAP trading spreadsheet developed by JibalaPasan and coded by dtlase based on GAP theory by MARIALUIZA (thanks Maria!) and any other tools developed by this talented international community.


NOTICE!!!
Please do not post pirated copies of software on this thread. I know for sure some of the stuff I see posted on other threads are from a certain Russian site and may contain viruses and or infringe upon US copyright laws. If you are not sure then don't post! You may be reported if you are found to be in violation.
Please be careful!


The latest dtlase spreadsheet is found here:
http://www.forexfactory.com/showthre...91#post8564491 updated 10/28/2015

CapeCoddah's Powermeter Dashboard Modification is found here http://www.forexfactory.com/showthre...21#post8551521 updated 10/21/2015

dtlase Powermeter V5c here http://www.forexfactory.com/showthre...65#post8593665 updated 11/16/2015 (A must have!)

dtlase Powermeter V5p here http://www.forexfactory.com/showthre...33#post8615433 updated 12/01/2015


Jibala Trade Management here http://www.forexfactory.com/showthre...97#post8533797 and here http://www.forexfactory.com/showthre...71#post8545471 updated 10/21/2015



Helpful Tools

CJA MTF Multi Pair RSI dashboard http://www.forexfactory.com/showthre...79#post8549779
jamesT. modified speedometer excel file here http://www.forexfactory.com/showthre...97#post8550997 updated 10/21/2015
jamesT. arrows http://www.forexfactory.com/showthre...21#post8551521 updated 10/21/2015
Average Bar Range (last candle too long/strong) here lhttp://www.forexfactory.com/showthre...28#post8552628


BASIC INSTALLATION Guide by PayItForward
(Removed by request of author.)



Many Green Pips To All!





Please Read *Very Good Idea * Thanks to DLOUW!

I believe some of the challenges being faced as a group is that terms are being used interchangeably. If we can create a standard set of definitions it will be much easier to work together. Here is my take on them as a start. Can we discuss this and create a durable standard to move forward with?

Here on some thoughts about the dash information and layout for strength indicators for clarity and discussion. We have Bid Ratio, Relative Strength, Currency Strength, Absolute Strength, Gap and Sync.

Bid Ratio is based on the current price as a percentage of the Day Range. This range can be based on the Day Bar (the time elapsed since the brokers open time) or Rolling (the last 24 hours).

Relative Strength is the Bid Ratio of a pair expressed in a range of -9 to 9.

Currency Strength (Strength) represents the average of Relative Strengths of a single currency across all currency pairs expressed in a range of 0 to 9.

Absolute Strength represents the difference of the Currency Strength of the base and counter currencies of a pair expressed in a range of -9 to 9. (This has been also described as Gap.)

Gap is a measure of the difference (movement) of an indicator across a fixed time frame. (Currently 30 minutes). This would indicate Momentum.

Sync is a count of how many pairs fit a set of criteria for a given currency. This is currently defined by all the selected filters. Sync is expressed in a range of 0 to 7.

If we can all build on or correct this to create a standard I think this help us moving forward. I will be happy to record progress and post the final "dictionary"

All the Best,
dlouw
  • #2
  • Oct 8, 2015 10:22pm Oct 8, 2015 10:22pm
Ok well I have a question. When pressing auto update does it start automatically updating every 30 minutes using the server clock?
  • #3
  • Oct 8, 2015 10:30pm Oct 8, 2015 10:30pm
Many thanks for creating this new thread. I hope many people with great ideas will join and inspire. Let's have a nice time together and most of all respect each other's.

M$ Excel is a great tool not only as a trade analyzer but (automated) trading as well. Hence let's see if and how the new thread will grow.

Btw the idea for the "GAP" was introduced by Marialuiza. We put it into practice with some further development.

Regards Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #4
  • Oct 8, 2015 11:01pm Oct 8, 2015 11:01pm
Join, curious how the gap analysis.
Hope we can all enlightenment more detial how to exploit a gap analysis to achieve profits
  • #5
  • Oct 8, 2015 11:06pm Oct 8, 2015 11:06pm
Quoting PipFlak
Ok well I have a question. When pressing auto update does it start automatically updating every 30 minutes using the server clock?
If I am not totally mistaken the macro is using the internal "Application.OnTime" function, hence if the "auto update" button is pressed it should update every 30 minutes in accordance to a M30 chart.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #6
  • Oct 9, 2015 12:02am Oct 9, 2015 12:02am
I think the first thing we need to do is create a 'GAP Trading for Dummies' pdf. I am one of the dummies who don't really know how to use this spreadsheet yet. If we could start with the basic setup in excel and how to test if it is working correctly that would be nice.
  • #7
  • Oct 9, 2015 12:22am Oct 9, 2015 12:22am
Quoting PipFlak
I think the first thing we need to do is create a 'GAP Trading for Dummies' pdf. I am one of the dummies who don't really know how to use this spreadsheet yet. If we could start with the basic setup in excel and how to test if it is working correctly that would be nice.
Should be done by the creator (dtlase) of the spreadsheet. Only then it will become more clear how he interprets and understands Marialuiza's "GAP" definition.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #8
  • Oct 9, 2015 12:50am Oct 9, 2015 12:50am
Quoting PipFlak
I think the first thing we need to do is create a 'GAP Trading for Dummies' pdf. I am one of the dummies who don't really know how to use this spreadsheet yet. If we could start with the basic setup in excel and how to test if it is working correctly that would be nice.
Thanks PipFlak for opening this thread to explore Gap Trading for Dummies (like me) using Excel (which I am a dummie in also). And thank you JibalaPasan for your continued inspiration.
I am definitely subscribed to this thread.

Bruce
  • #9
  • Oct 9, 2015 12:52am Oct 9, 2015 12:52am
thanks for starting the thread, pipflak, i am very interested in gap trading and sharing ideas. and thanks to jibala for her teachings
  • #10
  • Edited 1:09am Oct 9, 2015 12:54am | Edited 1:09am
Anyone who doesn't have a copy of Microsoft Office don't worry go here http://www.microsoft.com/en-us/evalc...onal-plus-2013.
This is by no means an endorsement of Microsoft products. They don't need my help.
  • #11
  • Oct 9, 2015 2:08am Oct 9, 2015 2:08am
Quoting JibalaPasan
Many thanks for creating this new thread. I hope many people with great ideas will join and inspire. Let's have a nice time together and most of all respect each other's. M$ Excel is a great tool not only as a trade analyzer but (automated) trading as well. Hence let's see if and how the new thread will grow. Btw the idea for the "GAP" was introduced by Marialuiza. We put it into practice with some further development. Regards Jibala
Where is "GAP" defined? While searching there are many references. Which reference(s) best define the "GAP".
  • #12
  • Oct 9, 2015 2:13am Oct 9, 2015 2:13am
Calculation of groups are wrong!!!

Look at screenshot. It should not be 4. It should be -6!!!! When EURUSD is getting stronger, Euro is getting stronger but USD is getting WEAKER!
USD should now be SELL!
Since the excel is password protected, I cannot alter it the way it should be. So please notify dtlase.
Attached Image
  • #13
  • Oct 9, 2015 2:17am Oct 9, 2015 2:17am
Quoting idiamond
{quote} Where is "GAP" defined? While searching there are many references. Which reference(s) best define the "GAP".
This is MariaLuiza's original ideas.
Attached File(s)
File Type: pdf Maria Gap Theory.pdf   114 KB | 8,065 downloads
  • #14
  • Oct 9, 2015 2:21am Oct 9, 2015 2:21am
Quoting dariuske
Calculation of groups are wrong!!! Look at screenshot. It should not be 4. It should be -6!!!! When EURUSD is getting stronger, Euro is getting stronger but USD is getting WEAKER! USD should now be SELL! Since the excel is password protected, I cannot alter it the way it should be. So please notify dtlase. {image}
One thing I noticed unless I am wrong but it looks like he is calculating the difference of the bs ratio instead of absolute strength each 30 minutes for LO. At least I think that's what Maria said originally.
  • #15
  • Oct 9, 2015 2:28am Oct 9, 2015 2:28am
Quoting PipFlak
{quote} One thing I noticed unless I am wrong but it looks like he is calculating the difference of the bs ratio instead of absolute strength each 30 minutes for LO. At least I think that's what Maria said originally.

Also correct PipFlak. Original Gap was based on Absolute strength and not on BSratio!
I don't know if that will be a big difference but we can see by building both. But the group calculation now is completely wrong and will not give correct signals so do not use it!
  • #16
  • Oct 9, 2015 2:49am Oct 9, 2015 2:49am
Hello friends,
Thank you PipFlak for creating this thread. I want to thank Maria and JibalaPasan also.
The excel tool is just created from the little knowledge I got from Jibala pictures. I am not claiming it is perfect but I believe together we can make it.
  • #17
  • Oct 9, 2015 2:51am Oct 9, 2015 2:51am
Quoting dtlase
Hello friends, Thank you PipFlak for creating this thread. I want to thank Maria and JibalaPasan also. The excel tool is just created from the little knowledge I got from Jibala pictures. I am not claiming it is perfect but I believe together we can make it.
Thank you and Jibala for giving us this sandbox to play in!
  • #18
  • Oct 9, 2015 2:55am Oct 9, 2015 2:55am
Quoting dariuske
{quote} Also correct PipFlak. Original Gap was based on Absolute strength and not on BSratio! I don't know if that will be a big difference but we can see by building both. But the group calculation now is completely wrong and will not give correct signals so do not use it!
Exactly what I noticed too that's why I wrote above "should be explained by the creator". Only then we will know how it works.
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #19
  • Oct 9, 2015 3:03am Oct 9, 2015 3:03am
Quoting dtlase
Hello friends, Thank you PipFlak for creating this thread. I want to thank Maria and JibalaPasan also. The excel tool is just created from the little knowledge I got from Jibala pictures. I am not claiming it is perfect but I believe together we can make it.
I agree! And I am just trying to help by giving constructive remarks.

If a base currency is second you need to reverse the outcome. Look at my screenshot.
Attached Image
  • #20
  • Oct 9, 2015 3:07am Oct 9, 2015 3:07am
Quoting dariuske
Calculation of groups are wrong!!! Look at screenshot. It should not be 4. It should be -6!!!! When EURUSD is getting stronger, Euro is getting stronger but USD is getting WEAKER! USD should now be SELL! Since the excel is password protected, I cannot alter it the way it should be. So please notify dtlase. {image}

@dariuske
I will check the calculation again. It should be a SELL, since the GAP for EU,GU,AU,NU are +1. it shows that you BUY the base and SELL the quote USD.
and UC,UJ are -1.



All the calculation are on the work sheet. It is just the timer and update that is protected.
when you click on the Cell where you have 4, the calculation is there.
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