☸Gap Detector [NHP]

🔶This is a Pine Script code for a “Gap Detector” study in TradingView. The script scans for gaps in the price chart and labels them as either ‘🟢Bull gap’ or ‘🔴Bear gap’. Here’s a brief explanation of the code:

🔶Length and Width are user inputs that define the number of bars to look back and the width of the lines drawn, respectively.
➡️Gap_start and gap_end are variables that store the start and end of a gap.
➡️Gap_bull and gap_bear are boolean variables that indicate whether a bull or bear gap has been detected.

🔶Inf_gap and sup_gap are variables that store the lower and upper bounds of a gap.
The script then iterates over the specified length of bars. If a gap is detected (a high price that is lower than the previous bar’s low price for a bull gap, or a low price that is higher than the previous bar’s high price for a bear gap), it calculates the size of the gap and draws lines and labels on the chart if the gap is larger than 5 pips. ( pips meaning percentage in point)

🔶All content provided is for informational & educational purposes only. Past performance does not guarantee future results.