timwest

Gap Line

GAP LINE:

Plots the cumulative line of gaps to see extremes in psychology.

Plenty of Gap-UP's where the Open is higher than the previous bar's close get the market excited.

Plenty of Gap-DOWN's where the Open is lower than the previous bar's close get the market scared and depressed.

Look for the Gap Line to peak prior to an important peak in the market and vice versa. Look for a low in the Gap Line prior to an important low in the market.

Simple, but effective.

Tim

Skrip open-source

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Inggin menggunakan skrip ini pada chart?
study("Up Movement", shorttitle="Gap Line", precision=2) 

Gap = open-close[1]

plot(cum(Gap))
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com