Wide Range Bars and Hidden Gap Detection
Summary
This document describes an indicator that marks Wide Range Bars or Wide Range Bodies and identifies hidden gaps associated with them. It displays filled and unfilled gaps differently, and can notify users when price enters an unfilled gap. The indicator is presented as a charting aid for tracking these price areas; the text does not define a trading entry, exit, or risk-management strategy.
Several settings control detection and display. Users can choose whether to assess full bars or bodies, set how many preceding bars are used for comparison, limit how much chart history is analyzed, and customize gap appearance. A larger comparison lookback makes qualifying bars less frequent, according to the description. No performance results, validation method, or precise rules for how gaps are classified are provided, so the indicator’s signals should not be treated as evidence of profitability.
Key ideas
- The indicator marks wide-range bars or wide-range candle bodies.
- It identifies hidden gaps associated with those bars and distinguishes filled from unfilled gaps.
- Alerts can be enabled for price entering an unfilled gap area.
- A longer comparison lookback produces fewer qualifying wide-range bars, according to the description.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.