Let's take a look at some strategies for trading our "Close The Gap" backtest on a live basis.  We will be combining the use of scans, schedules, alarms, and reference lines.  Don't worry, it's not as complicated as you might imagine.

First, there are four scans we need to create.  The first two will find our gapping stocks, and the next two will set alarms levels at our target prices for the gappers.  Then we will schedule these four scans on a single schedule that will be run only once a day shortly after the open.  You will need to decide what list of stocks you will be studying.  I have created a quotepage of the 100 stocks on the Nasdaq 100.  You can recreate this quotepage by download the Nasdaq 100 text file and import it into your system.  Just choose "File: Import", select type "Ticker Symbols" and "File Format" of ASCII Text and click "Import".  Then select your downloaded text file.  Give your resulting quotepage a name like "Nasdaq100".  You can use whatever quotepage of symbols you like for this project, but I would recommend you mark all symbols in your quotepage for intraday monitoring.

Now let's create our first two scans (File: New: Scan).

Scan 1 finds the stocks that gapped up.  Scan 2 finds the stocks that gapped down.  These scans require that they gap more than 4.5% (0.045)  You are free to experiment with moving this value in either direction.  If you are going to experiment though, I recommend you do so in the backtest and compare your results.  Our next two scans are designed to set our alarms to the target prices.

Scan 3 runs on the resulting quotepage containing our upward gappers.  It sets the high alarm for each symbol to the target price (previous close).  Scan 4 similarly sets the low alarms to the previous close target for the down gappers.  The second part of each scan simply turns on the respective high or low alarms for those symbols.

Now, we need to create a schedule "File: New: Schedule".  Call the schedule "CloseTheGap" or whatever, and schedule it to run once a day at 2 minutes after the open.  This should give plenty of time for each symbol to establish an opening price that can be used in the scans.  Now, schedule scans 1, 2, 3, and 4 in that order.  For Scan 1, choose to save the resulting quotepage as "GapUp".  For Scan 2, choose to save the resulting quotepage as "GapDown".  For Scans 3 and 4, choose to "Suppress the Resulting QuotePage".  In the right margin, you can see screenshots of our scheduled actions for Scans 1 and 4.

Now, save this chart.  Then go to "Setup Prefs: Charts: General" and assign this saved chart as your default chart.  Also, you might choose the option to "Open default chart in a new window".  After you automated scans run in the morning and output the two quotepages of gappers, you can then double-click on each ticker to bring up the chart you created for each one.

An example of a chart for a stock that gapped down can be seen on the right.  Notice the price has currently retraced about 25% between the entry price (in red) and the target price (in green).  Another way to implement this would be to draw a Fibonacci Retracement line from the previous close down to the current open.