Gap Analyzer[KG]

Overview:
Gap Analyzer is a statistical research tool that scans every bar on your chart, identifies significant gap-down and gap-up events beyond a user-defined threshold, and summarizes what historically happens inside those gap bars — from open to high, open to low, and open to close.

What is a Gap?
A gap occurs when a bar's open is meaningfully higher or lower than the prior bar's close, leaving an empty zone on the chart with no traded price. This indicator flags:

Gap Down — when (Open − Prior Close) / Prior Close × 100 is at or below your threshold (default: −1%)
Gap Up — when the same calculation is at or above your threshold (default: +1%)


Visual Markers on the Chart:
Every qualifying gap is marked directly on the price pane with three layers:

Gap Zone Box — a semi-transparent dashed box fills the exact price area between the prior close and the current open, making the gap size immediately visible
Bar Highlight — a subtle background tint on the gap bar itself (red for gap down, teal for gap up)
Arrow + Label — a triangle arrow above/below the bar paired with the exact gap percentage printed inside the gap zone box (e.g. −6.43% or +5.91%)


Statistical Tables:
Two summary tables are rendered in the price pane — one for gap downs (bottom right by default) and one for gap ups (opposite corner). Each table contains 10 columns across 3 rows:

Gap Down Table:
Column Meaning Coun Total number of gap-down bars detectedΦGapAverage gap size across all qualifying bars O>C %% of gap-down bars that closed bearish (continuation) ΦO→HAverage % move from Open to High on continuation barsΦO→LAverage % move from Open to Low on continuation bars ΦO→CAverage % move from Open to Close on continuation bars O<C %% of gap-down bars that closed bullish (bounce )ΦO→HAverage % move from Open to High on bounce bars ΦO→LAverage % move from Open to Low on bounce bars ΦO→CAverage % move from Open to Close on bounce bars
Gap Up Table mirrors the same logic with:

Gap Continuation ↑ — bars where the gap-up day also closed bullish (O < C)
Gap Fade ↓ — bars where the gap-up day reversed and closed bearish (O > C)

All percentage values are colour-coded — teal for positive, red for negative — for instant readability.

The Φ Notation-
The symbol Φ (Phi) denotes an average (mean) across all qualifying bars in that category. So ΦO→H means "the average percentage move from the Open to the High across all gap bars in this group" — a measure of how much intraday upside was available on average after the gap open.

Inputs:
Input Default Description Gap-Down Threshold−5%Minimum gap size to qualify as a gap down Gap-Up Threshold+5%Minimum gap size to qualify as a gap up Table Position Bottom Right Where to anchor the gap-down table (gap-up table auto-mirrors) Show Gap % Label On Toggles the arrow and % label on each gap bar

Use Cases:

Intraday traders — know statistically how far price tends to travel from open toward the high or low after a gap, helping size entries and targets
Swing traders — quickly assess whether gaps on your instrument tend to fill (bounce) or continue, and by how much on average
Back testing context — apply to any timeframe and ticker to build a historical gap behavior profile before trading a live gap event


Notes:

Works on any ticker and any timeframe
All statistics are computed from the full visible history loaded on the chart; extending your chart history will give more robust sample sizes
Past statistical behavior does not guarantee future results — use as context, not as a signal in isolation