OPEN-SOURCE SCRIPT
Gap Finder by Darkoexe
Updated
This indicator plots labels that indicate gaps whenever the open price and the previous bar close price have a significant gap.
To determine the size the gap has to be before it is labeled at a specific point in time on the chart. The gap needs to be larger or equal to a factor of an ATR value. For example, if the ATR gap factor is 0.25, the gap between the open and the previous close price must be greater than 0.25*ATR of the ATR length specified for the gap to be plotted on the chart.
Note: If you don't know what the ATR or average true range is, search for "ATR" in indicators. It is one of Trading View's most fundamental indicators.
To determine the size the gap has to be before it is labeled at a specific point in time on the chart. The gap needs to be larger or equal to a factor of an ATR value. For example, if the ATR gap factor is 0.25, the gap between the open and the previous close price must be greater than 0.25*ATR of the ATR length specified for the gap to be plotted on the chart.
Note: If you don't know what the ATR or average true range is, search for "ATR" in indicators. It is one of Trading View's most fundamental indicators.
Release Notes
This indicator plots labels that indicate gaps whenever the open price and the previous bar close price have a significant gap.To determine the size the gap has to be before it is labeled at a specific point in time on the chart. The gap needs to be larger or equal to a factor of an ATR value of the previous candle. For example, if the ATR gap factor is 0.25, the gap between the open and the previous close price must be greater than 0.25*ATR of the ATR length specified for the gap to be plotted on the chart.
Note: If you don't know what the ATR or average true range is, search for "ATR" in indicators. It is one of Trading View's most fundamental indicators.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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