timwest

Gap Line

GAP LINE:

Plots the cumulative line of gaps to see extremes in psychology.

Plenty of Gap-UP's where the Open is higher than the previous bar's close get the market excited.

Plenty of Gap-DOWN's where the Open is lower than the previous bar's close get the market scared and depressed.

Look for the Gap Line to peak prior to an important peak in the market and vice versa. Look for a low in the Gap Line prior to an important low in the market.

Simple, but effective.

Tim

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study("Up Movement", shorttitle="Gap Line", precision=2) 

Gap = open-close[1]

plot(cum(Gap))
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Hi... I am looking for one the indicators you have on your this one VPVR. I think its showing volume on the right of the chart. Do you where can I find it for trading view?? Thanks.
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