Weekly Opening GAP — Indicator by aaronmefford

chartpatterns pivotpointsandlevels gap weeklygap weekly

This indicator will plot the weekly opening gap on the chart. The gap will be carried forward until it is closed or the max line count is reached. Additionally the 1/4 levels inside the gap are plotted on the chart as weekly gaps can be large.

The weekly opening gap levels can act as targets and rejection points.

Optionally the script can also carry forward the top and bottom lines of the weekly opening gap for up to the 10 prior gaps. These lines are not removed when the gap is closed.

Release Notes:

Hid the weekly values from the status line.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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