The Gap Indicator alerts you to a gap up or gap down opening in today’s market. A gap up occurs when today’s opening price is above the previous day’s closing price and a gap down occurs when today’s opening price is below the previous day’s close. Gap openings can be important to shorter time-frame traders and daytraders. A gap opening can indicate an early bullish or bearish market bias and usually occurs when important market news or events have happened prior to the opening of the market.  This indicator also displays the 1/2 gap which becomes an important target when the market experiences bigger gaps.

In addition to alerting you when a gap opening has occurred, the Gap Indicator will also alert you when the gap has been filled. Filled gaps are important to many shorter time-frame traders and daytraders. The Gap Indicator will assist those traders who have developed trading techniques involving gap openings and filled gap openings.

Just like with our Floor Traders Pivot Points indicators and Open/High/Low/Close indicator, our Alchemy Gap indicator contains session start and end times inputs that can be used to specify the daily session start and end time on all session symbols.