Moving Average Channel plots separate simple moving averages for upper and lower bands on the price chart. It fills the space between bands with semi-transparent color and colors bars green above the upper band, red below the lower band, or gray in between. Us
Indicator · Pine Script v4 · On the chart
ARI wrong gap finder
ARI wrong gap finder is an overlay indicator that searches recent bars for bearish and bullish price gaps.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code29
Settings2inputs
LicenceApache-2.0
Last update2 years ago28 Jan 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
29 lines of Pine Script v4 from ARI-WGAP.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
study(title="ARI wrong gap finder", shorttitle="ARI WGAP", overlay=true)
// clear_past = input(title="Clear filled gaps", type=input.bool, defval=true)
bars = input(3, "Max bars")
if bars <= 3
bars := 3
perc = input(1, "Min gap % allowed")
if perc <= 0
perc := 1
// scenario one: bearish
// a = low[2]
a = lowest(low[2],bars-2)
b = high
delta_bear = (a-b)
gap_bear = delta_bear/b > (perc/100) ? (a>b) : na
if gap_bear
bx = box.new(bar_index[bars-1], low[2], bar_index[0], high, color.green, 1, line.style_solid, extend.none, xloc.bar_index, color.new(color.green, 90))
// scenario two: bullish
a_bull = highest(high[2],bars-2)
b_bull = low
delta_bull = (b_bull-a_bull)
gap_bull = delta_bull/a > (perc/100) ? (a<b) : na
if gap_bull
bx = box.new(bar_index[bars-1], high[2], bar_index[0], low, color.purple, 1, line.style_solid, extend.none, xloc.bar_index, color.new(color.purple, 90))
Overview
ARI wrong gap finder compares an older low or high range with the current bar and marks a gap only when the percentage difference exceeds the minimum allowed. A qualifying bearish gap draws a green box and a qualifying bullish gap draws a purple box on the price chart. The main settings set the maximum bar window, which cannot fall below three, and the minimum gap percentage, which cannot fall below one. It does not generate entries or exits.
- Green boxes for bearish gaps
- Purple boxes for bullish gaps
- Maximum bars lookback window
- Minimum gap percentage filter
Details
Published by
alessioricco on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Max bars | int | 3 | bars |
| Min gap % allowed | int | 1 | perc |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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