Gap Finder with Box Fill

31 thg 10, 2024

Setup and Inputs

The indicator checks the current and previous candles to find gaps, using a color input for filling the gap area on the chart.

Gap Detection:
If the current candle opens higher than the previous close and doesn’t overlap with the previous candle’s range, it marks this as a gap-up.
If the current candle opens lower than the previous close without overlap, it’s marked as a gap-down.

Drawing the Gap:
When a gap-up or gap-down is found, the script draws a box from the previous close to the current candle’s low or high, filling it with the chosen color.

Benefits

Visual Aid: The filled box highlights gaps, making them easy to spot on the chart.

Trade Signals: Gaps can show strong market moves, helping traders spot potential entries or watch for reversals.

Customizable: You can adjust the color to fit your chart style, making the gaps stand out clearly.

This simple tool gives traders a quick view of gaps, which are often key points of interest in technical analysis.

28 thg 11, 2024

Phát hành các Ghi chú

Updated to Version 6