My modifications for the candlestick pattern script by Robert Waddell.
Changelog
- Added window (= gaps) detection
- Added Bear/Bull Sash
- Modified candlestick ID code
- Candlesticks will only be displayed if above or below TLine
Originally created by Robert Waddell with special thanks to repo32 for his candlestick ID code, DavidR for EMA code and Chris Moody...
█ OVERVIEW
Customizable Gap Finder by ProfessorZoom with a partial close of a gap
█ CONCEPTS
1 — Gaps bullish or bearish
2 — Gaps can be filled
3 — Gaps can be partially close
4 — Some display options
█ OTHER SECTIONS
Thanks to The rational investor for teaching me this and ProfessorZoom because he writes 99% of the script.
Did you know the...
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Introduction
Gap trading is a simple and disciplined approach to buying and shorting stocks. Essentially, one finds stocks that have a price gap from the previous close, then watches the first hour of trading to identify the trading range. Rising above that range signals a buy, while falling below it signals a short.
What is a Gap?
A gap is a change in price...
New version 2 of my modifications of the original candlestick pattern script by Robert Waddell.
- Added window (= gaps) detection
- Added Bear/Bull Sash
- Added Bear/Bull Counter Attack
- Added Bear/Bull Seperating Line
- Modified candlestick ID code
- Added Lookback period instead of SMA (TLine) for trend detection
This indicator finds gaps based on User specified input % threshold in the indicator settings. Histogram plot shows gaps as vertical lines for easy detection. Enjoy!
If you are interested in trading gaps in DAX, then DOW plotted in DAX's trading hours, will help you know whether the smoothed candle was a gap or not. Use a different script to plot yesterday's closing price. This will help you see the target for the gap close. Let me know if you find it helpful or not!
