Gaps are areas on a chart where the price of a stock (or another financial instrument) moves sharply up or down, with little or no trading in between. As a result, the asset's chart shows a gap in the normal price pattern. The trader can interpret and exploit these gaps for profit.
What do i look for in these gaps, Will these gaps will fill or not fill? When someone says a gap has been filled, that means the price has moved back to the original pre-gap level. how you can benefit with this indicator? this indicator instantly picks up the gap at the start of the day and also helps in identifying weather it is a bullish gap or a bearish gap in this you can easily set up alerts, you will be instantly alerted if any gap occurs.
What does the visual on chart indicates ? Green color gaps are bullish gaps or gap up ,label indicates the type of gap and the width of the gap Red color gaps are bearish gaps or gap down ,label indicates the type of gap and the width of the gap
once you set alert you will Receive alert in the below format Price (current price) 'Bear gap width: ' (gap Width in points) Price (current price) 'Bull gap width: ' (gap Width in points)
This will work on all time frame equal to or less than "D".
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DM me or Comment below or like it. I will Give access. If any questions ask freely, i will be happy to help.
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-updated to v5 -An input has been added to filter out small gaps based on a percentage input defined by the user. This will display gaps that are greater than the input percentage and alert the user.
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EMA filter added to filter out trade if opposite direction.