I am a new Trading View user. I am trying to gain some reputation so that I can start contributing more to the community and start learning more. Therefore I have written this very simple pine script that simply adds a label to the first bar of the day if there is a gap between 2% and 8% or a gap between -2* and -8%.
1) Lots of missing candlesticks...
Only for Bitcoin!
This indicator locates weekly gaps created by the CME Futures market for Bitcoin.
As you can see, Bitcoin tends to close the weekly gaps created in the futures market so I thought this could be a very useful tool.
Instead of having to look between multiple charts, this simply overlays the past weeks open and close should a gap appear.
Gaps are market prices structures that appear frequently in the stock market, and can be detected when the opening price is different from the previous closing price, this is why gaps are also called "opening price jumps". While gaps can occur frequently, some of them are more significant than others, and can be observed when looking at a long term chart.
GAP DETECTOR is an indicator displaying price gaps that have never been completely filled (only gaps >= 5 pips are considered).
Each gap is defined by two lines (the lower and upper bound of the gap), and a label giving information on its price range
length: the number of candles being considered in the indicator (max is 3000).
width: the width of...