Sharing a simple gap zone identifier, simply detects gap up/down areas and plots them for visual reference. Calculation uses new candle open compared to previous candle close and draws the zone, a mid point is plotted also as far too often it's significance is proven effective.
Works on any timeframe and market though I recommend utilizing timeframes such as weekly or daily for viewing at lower timeframes such as 5, 15 or 30 minutes.
Often price is observed reaching towards zone high/mid/low before rejection/bouncing. These gap zones can give quantitative basis for trade management.
Future features may include alerts based on price crossing up/down gap low, mid and highs. Feel free to message with any other suggestions.
@Mode_m-889, inactive gap zones? Personally I just adjust how many gaps back I want but even if price action has moved through a gap I find it still has relevance long after the fact. I'm assuming you're asking for some kind of fill tracking and then remove on fill?
Moda-877
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Nice script
syntaxgeek
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@Mode_m-889, thanks!
Moda-877
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Will wait for update to add alert thanks
syntaxgeek
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@Mode_m-889, what kind of alerts are you interested in? Some I've thought of are mid zone price crosses, bottom and top zone crosses. My concern is too many alerts.