The Gap Finder Indicator will allow you to quickly identify gaps on the chart. Gaps in this indicator are defined as the "black space" between candles with the space being as small as $0.01. A gap up is one where the previous candle's high is lower than the current candle's low. A gap down is one where the previous candle's low is higher than the current candle's high.
Features:
Basic guidelines for Gap trading:
This indicator will work for all timeframes using the definitions above so good for day traders, swing traders and any other style of trader using gaps in their strategy.
Features:
- Highlight Gap Area will show the price levels for the last found gap.
- Show Last Only - will show only the last gap to help declutter the chart.
Basic guidelines for Gap trading:
- Wait 3-5 Periods to allow the momentum to settle
- Take trade on reversal candle with stop above recent high
- Exit for profit when the gap fills.
This indicator will work for all timeframes using the definitions above so good for day traders, swing traders and any other style of trader using gaps in their strategy.
Release Notes:
Resolved issue with the gap highlighting from previous days.
Difficult Takes a day, Impossible Takes a Week!