We enhanced VEL to include an option that
allows VEL to ignore price gaps. The user can specify any logic to designate
which gaps should be ignored.
On the chart, indicator "JRC2 VEL
nogap" was instructed to ignore all gaps occuring between one day and the
next. Note how the gap has no apparent affect on the behavior of "JRC2 VEL
nogap". In comparison, indicator "JRC2 VEL" is not given such
instructions, and we see on the bottom panel the effect this gap can produce.
This displays the importance of having technical indicators that can
"ignore" price gaps on command.
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