Gap & Go Day Trading Tool - Key Levels, Alerts & Setup Grading

Visualizes Gap & Go setups with automatic gap detection, pre-market levels, and breakout signals. Shows: ✅ Gap % with quality rating (5%/10%/20%+) ✅ Pre-market high/low ✅ First candle range ✅ 50% gap fill target ✅ VWAP ✅ Relative volume. Includes setup grading system (A+ to C), entry signals on PM high breakouts, and 6 customizable alerts. Perfect for momentum day traders focusing on gapping stocks.


Full Description
█ OVERVIEW

The Gap & Go indicator automatically identifies and visualizes gap trading setups - one of the most popular momentum day trading strategies. When a stock gaps up significantly from the prior close, it often signals strong buying interest and potential for continuation moves.

This indicator displays all the key levels you need to trade gaps effectively, grades setup quality, and alerts you to breakout opportunities.


█ HOW IT WORKS

The indicator calculates the gap percentage between yesterday's close and today's open, then displays critical support/resistance levels that gap traders watch:

Gap Zone → The price range between prior close and gap open
Pre-Market High/Low → Key breakout and support levels from extended hours
First Candle Range → Opening range that often defines intraday direction
50% Gap Fill → Common retracement target and support level
VWAP → Institutional reference point


█ GAP CLASSIFICATION

Gaps are automatically classified by magnitude:

🔥 Qualifying Gap (5%+) → Meets minimum threshold for gap trading
🔥🔥 Strong Gap (10%+) → Ideal gap size for momentum plays
🔥🔥🔥 Monster Gap (20%+) → Exceptional move requiring extra attention

Background color changes based on gap quality for instant visual identification.


█ SETUP GRADING SYSTEM

The indicator grades each setup from A+ to C based on multiple factors:

- Gap magnitude (qualifying vs strong)
- Relative volume (2x+ vs 5x+ average)
- Price position relative to VWAP

A+ Setup (4-5 points) → High probability
A Setup (3 points) → Good setup
B Setup (2 points) → Moderate
C Setup (0-1 points) → Weak/avoid


█ ENTRY SIGNALS

Triangle signals appear when price breaks above key levels:

▲ Lime Triangle → Breaking above Pre-Market High
▲ Aqua Triangle → Breaking above First Candle High

Signals require volume confirmation by default (configurable).


█ KEY LEVELS DISPLAYED

- Prior Close (Orange) → Gap reference point
- Pre-Market High (Lime) → Primary breakout level
- Pre-Market Low (Red) → Support if gap fails
- First Candle Range (Aqua box) → Opening range breakout levels
- 50% Gap Fill (Yellow dotted) → Common support/target
- VWAP (Purple) → Institutional pivot


█ INFO TABLE

Real-time dashboard showing:
- Gap % with quality emoji
- Relative Volume with status
- All key price levels
- Breakout status (✓ if broken)
- Distance from PM High
- Setup Grade


█ ALERTS INCLUDED

6 customizable alerts:

1. Qualifying Gap Detected (5%+)
2. Strong Gap Detected (10%+)
3. Monster Gap Detected (20%+)
4. Pre-Market High Breakout
5. First Candle High Breakout
6. 50% Gap Fill Test
7. Full Gap Fill (setup invalidated)


█ SETTINGS

Gap Settings
- Minimum gap % threshold
- Strong gap % threshold
- Monster gap % threshold

Volume Settings
- Enable/disable relative volume filter
- Minimum RVol requirement
- Strong RVol threshold
- RVol calculation period

Level Settings
- Toggle each level type on/off
- Show/hide gap zone
- Show/hide VWAP

Signal Settings
- Breakout signal type (PM High, First Candle, Both)
- Volume confirmation requirement

Visual Settings
- Info table position
- Color customization for all levels


█ HOW TO USE

1. Scan for gapping stocks pre-market (use a scanner or watchlist)
2. Apply this indicator to candidates
3. Check the Setup Grade in the info table
4. Wait for price to consolidate near pre-market high
5. Enter on breakout above PM High with volume confirmation
6. Use 50% gap fill or PM Low as stop loss reference
7. Monitor VWAP - staying above is bullish


█ BEST PRACTICES

✓ Focus on A and A+ setups
✓ Require strong relative volume (5x+)
✓ Trade in the direction of the gap (long for gap ups)
✓ Watch for gap fill as potential support
✓ Be cautious if price falls below VWAP
✓ First 30-60 minutes typically have best momentum


█ TIMEFRAME RECOMMENDATIONS

- 1-minute: Scalping, precise entries
- 5-minute: Most common for gap trading (recommended)
- 15-minute: Swing entries, less noise


█ NOTES

- Pre-market levels require extended hours data enabled
- First candle range is based on the first regular market candle
- Works on stocks, ETFs, and futures
- Gaps down are detected but focus is on gap-up setups


█ DISCLAIMER

This indicator is for educational purposes only. Gap trading involves significant risk. Past performance does not guarantee future results. Always use proper risk management and never risk more than you can afford to lose.