GAP Finder

GAP Finder

This indicator plots an up arrow for bullish gaps and a down arrow for bearish gaps.

It also can plot a cross for a closed gap or hide it.

The trader can select the minimum gap size in points. Gaps less than minimum size are ignored.

Input Parameters:

  • Min gap size in points: Minimum number of points for valid gaps
  • Check for closed gaps: Enable/Disable history check for closed gaps
  • Max history bars for closed gaps: Max number of history bars to check for closed gaps
  • Hide closed gaps: Hide/Show closed gaps
  • Show Alerts: Show alert messages of new gaps and closed gaps

Example showing both open and closed gaps


Suggested Usage:

  • New open gaps can be used as an entry filter in the same direction of the gap.
  • Old open gaps can be used as targets for opposite direction trades.
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