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
Gaps
The Gaps indicator measures and plots the percentage price gap between consecutive bars in a separate pane.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code10
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago3 Oct 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
10 lines of Pine Script v5 from 05. Candlestick Patterns/07. Calculating Gaps.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © cmoutafidis
//@version=5
indicator(title="Gaps", precision = 5)
gapClose = math.abs((open - close[1]) / open)
gapDistance = low > high[1] ? ((low - high[1]) / low) * 100 : ((high - low[1]) / high) * 100
plot(gapDistance)
Overview
Gaps evaluates whether the current bar low is above the previous bar high or the current bar high is below the previous bar low, calculating the relative gap distance as a percentage. The plotted values provide a simple quantitative visualization of price jump magnitudes without requiring any input settings or configuration. It displays directly in a lower pane below the main price chart.
- Percentage gap distance calculation
- Support for upward and downward gaps
- Separate pane visualization
Details
Published by
fiji-solutions on GitHub
Code credit
cmoutafidis, as written in the script's header
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Candlestick patterns, Volatility & bands
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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