This is a simple but efficient indicator.
Its made from an oscillator, which is calculated from the current close price with the highest high and the lowest low over a period of time.
This way we can see how much prices has changed over a X ammount of candles ( in positive or negative ) .
Using this indicator allows you to indentify large GAPS directly in your stock chart at first glance. The algorithm of the indicator *Gaps Checker v2* was optimized in this new indicator as well as it using the new pine script version v4. For backwards compatibility reasons this indicator is published.
This indicator is available in two versions ‘Lite’ and ‘PRO’....