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I have heard of one strat that fades the gap at the open on ES, but like you said I try to avoid the fades. Interestingly enough, I attempted a long on ZN today...Wasn't successful and I followed all my trading rules. Anyway, hindsight is 20/20. If ES opens long ZN tends to move in the opposite direction. So Trader Vic's gap rule follows all instruments it appears?
I have heard about this concept in various forms. One way too is to see where the price is 45 or so minutes after the open. If price is higher than the open at that points, chances are price will close higher at market close.
Can you help answer these questions from other members on NexusFi?
yes I usualy give it the 1st hour before making decision on that. then if we brake the high or low that was formed by that gap it will most likely continue in that direction.
Like today once we got above 1053.25 then TVGR was in effect.
I also found that if you get a double top / bottom before lunch then it may reverse and close gap.
That is just one more tool in the box.
Email me and I will send you the FREE Guide to trading TTT which also include a section on TVGR with examples.
I am wondering -- is there an indicator that will signal which type of day it is? I'm not sure if this can be measured client-side or if it would need to pull from a customers-only server side data feed, but I'd like to see it in indicator form because I'm always looking to backtest methods.
I am definatively not the programmer you are but I dont think that TTT could be programmed to run fully on its own.
At the moment the indicator that I have for NT takes the data from the daily report, that you recieve as a subscriber, and places the type of day and 8 or 9 different TTT levels on your chart.
Picture says a 1000 words.
If you think this can be improved on please let me know.