Wide Range Bars and Hidden Gaps as Price Areas to Monitor
Summary
The indicator identifies Wide Range Bars or Wide Range Bodies by comparing a bar with a configurable number of earlier bars. It then uses those wide-range formations to locate hidden gaps, which the description treats as more useful than the wide-range bars alone. Filled and unfilled gaps are displayed differently, and an optional alert can notify the user when price enters an unfilled gap area.
Settings control whether whole bars or bodies are evaluated, the comparison lookback, chart history scanned, and the appearance of markers and gap boxes. A longer lookback is described as producing rarer and more significant wide-range bars. The document offers no formal definition of significance, test results, or rules for trading these areas. Gap markings and alerts provide context for monitoring price, but do not establish that a gap predicts a reversal or continuation.
Key ideas
- The indicator detects wide-range bars or bodies using a configurable historical comparison.
- It derives hidden gap areas from the detected formations and distinguishes filled from unfilled gaps.
- Alerts can be enabled for price entering an unfilled gap.
- A longer lookback produces fewer detections according to the description, but no predictive evidence is provided.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.