Overnight Gap Frequency

This indicator calculates today's overnight gap (the percentage change from yesterday's close to today's open) and then scans the previous 60 daily candles to count how many times a similar or larger gap occurred. When today's gap is positive, it counts historical gap ups that were equal to or larger; when negative, it counts gap downs that were equal to or more extreme. The result is displayed as a label on the most recent bar, giving you a quick visual reference of how frequently such moves have happened in the past.

Ideal for daily charts, this tool helps you contextualize today's opening gap against historical market behavior, offering insight into the relative rarity of the move.