by 
Candle Pressure & Response (JMA) evaluates price action dynamics by calculating bidirectional candle pressure, upper and lower wick rejection fractions, body efficiency, and range expansion metrics relative to ATR. Each output series is smoothed using a Jurik
Indicator · Pine Script v5 · Own pane
Candlesticks - Calculating Gaps
This educational indicator calculates and visualizes market gap sizes in a separate pane.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code16
Settings0inputs
LicenceNone stated
Last update2 years ago13 Sep 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Candlesticks - Calculating Gaps computes two distinct metrics: the absolute percentage gap between the current bar open and the previous close, and the percentage gap distance between the current bar range and the previous bar range. Both series are plotted as line charts with three-decimal precision. The script contains no customizable user inputs and does not generate trade signals.
- Open to previous close gap percentage calculation
- High and low gap distance percentage measurement
- Dual line plot in a separate pane
- Three-decimal precision display
Details
Published by
Web3Degenerate on GitHub
Type
Draws
Separate pane below the 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.
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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