Tick Gap Indicator

From BPAX Lab

The purpose of this simple indicator is to paint bear bars with a bull tick gap, and bull bars with a bear tick gap. The tick gap often offers some support/resistance, yet not always, because those trapped BTC bulls/ STC bears want to get out BE after they were trapped. I also set the wick < 1 pt, which means they were not even getting a solid 1 point scalp. Always context first! Don't scalp this blindly. It's more like a "good to know" info. ‎


study(title = "TICK gap trapped with wicks", overlay = true)

//upside gap
GapUp = open > close[1] and close < open and (high-open) < 1
barcolor(GapUp ? purple : na)
plot(GapUp ? close[1] + 500 : na, color = yellow, style = stepline)

//downside gap
GapDown = open < close[1] and close > open and (open-low) < 1
barcolor(GapDown ? blue : na)
plot(GapDown ? close[1] - 500 : na, color = white, style = stepline)