Editors' picksOPEN-SOURCE SCRIPT
Gaps Profile [vnhilton]
Updated
Note: If you get an error preventing indicator from executing due to a loop running longer than >500ms, please lower the amount of boxes shown and/or increase the minimum gap % threshold.
OVERVIEW
The Gaps Profile (GP) simply shows the remaining gaps on the chart that have yet to be closed. Gaps are created where there's a distance between the current open and the previous close. Big gaps suggest change in sentiment and volatility causing prices to pull away thereby creating gaps. Gaps can be used as pivot areas where price may attempt to close the inefficiency entirely and/or serve as supply/demand zones.
(FEATURES)
- 3 to 499 remaining up/down gaps can be displayed on the chart (furthest gaps away from price are removed to make way for new gaps)
- Minimum gap % threshold
- Ability to highlight largest or newest up/down gap
- 4 GP color themes: Mono, Up/Down, Up/Down Largest Gradients, Up/Down Newest Gradients
- GP Type: Left, Right (how it is built - overlapping gaps plotted from left/right to right/left)
- GP offset from current bar
- Box border width
- Box border style for up/down: Dashed, Dotted, Solid
- Toggles to hide border/box with ease
OVERVIEW
The Gaps Profile (GP) simply shows the remaining gaps on the chart that have yet to be closed. Gaps are created where there's a distance between the current open and the previous close. Big gaps suggest change in sentiment and volatility causing prices to pull away thereby creating gaps. Gaps can be used as pivot areas where price may attempt to close the inefficiency entirely and/or serve as supply/demand zones.
(FEATURES)
- 3 to 499 remaining up/down gaps can be displayed on the chart (furthest gaps away from price are removed to make way for new gaps)
- Minimum gap % threshold
- Ability to highlight largest or newest up/down gap
- 4 GP color themes: Mono, Up/Down, Up/Down Largest Gradients, Up/Down Newest Gradients
- GP Type: Left, Right (how it is built - overlapping gaps plotted from left/right to right/left)
- GP offset from current bar
- Box border width
- Box border style for up/down: Dashed, Dotted, Solid
- Toggles to hide border/box with ease
Release Notes
- Fixed bug that caused Gaps Profile to continue moving further away from current bar as newer bars appeared (solution: resetting overlapCount array)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.
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Disclaimer
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