Plots the gap difference between a market’s daily open and the prior-day’s market close for a customizable length of time (in minutes; default 1hr) through regular trading hours.
GapAlertautomatically detects the current chart timeframe and will plot the dollar or percent width of gaps surpassing the user-defined threshold on a daily chart as values above / below daily candles.
However, if viewed on an intraday timeframe, GapAlert displays full- and half-gap range on the price chart with an option to annotate Fibonacci retracements of the gap, as well as only today’s gap range data if so desired.
Gaps represent large supply/demand imbalances at market open, wherein traders aggressively shift price far from the prior-day’s closing value, and have been widely studied by traders for (literal) decades.
Additionally, the included GapAlert Lower study highlights each gap event surpassing a user-specified threshold (in percent) on a daily chart.