Ban Gap

Ban Gap Indicator Description

The Ban Gap indicator is a time-sensitive gap detection tool designed for intraday trading on low-timeframe charts. It reconstructs synthetic OHLC (Open, High, Low, Close) candles to highlight potential gaps, allowing traders to quickly identify price discontinuities and significant movement zones across multiple second-based timeframes.

Unlike standard indicators, Ban Gap offers dynamic candle reconstruction and a customizable timeframe filter, enabling traders to see gap formations in real-time without cluttering charts.

How It Works

* Synthetic Candle Construction:

* Recalculates candle values using the previous candle’s close and the current price.
* Identifies “gaps” between candle closes and opens.
* Can be applied to all candles or only to daily opens.
* Configurable hour threshold to detect the start of a new trading day.

* Color Coding:

* Green/Teal Candles: Bullish synthetic candles (Close > Open)
* Red Candles: Bearish synthetic candles (Close < Open)
* Quickly visualize market sentiment at a glance.

* Timeframe Filtering:

* Supports 1s, 5s, 10s, 15s, 30s,45s and 1m charts.
* Traders can enable or disable the indicator on specific timeframes using checkboxes.
* Avoids clutter on high-frequency charts.

* Gap Detection Logic:

* Calculates the time difference between consecutive candles in hours.
* When the gap exceeds the threshold, it reconstructs the candle to highlight potential session/day changes.

Key Features

* Dynamic Synthetic OHLC: Highlights gaps effectively using reconstructed candle values.
* Custom Day Open Detection: Apply logic only to daily opens with a configurable hour threshold.
* Multi-Timeframe Support: Fully customizable for 1s, 5s, 10s, 15s, 30s,45s and 1m charts.
* Color-Coded Candles: Instantly differentiate bullish vs. bearish synthetic candles.
* Clean Chart Display: Only plots on selected timeframes to avoid clutter.