Gaps are said to be filled when price quickly runs out of steam and retraces back to fill the prices that were skipped by the gap.

• Breakaway: usually occur at the start of a trend
• Runaway / Measuring: occur in the middle of a strong trend, allowing for price projection
• Exhaustion: occur at the end of a trend
• Opening: when the open of a bar is outside the range of the previous bar

Before, the way to show gaps was by using a simple script in a watchlist or chart using a simple formula:

Gap Up: LOW() > HIGH()[1];

Gap Down: HIGH() < LOW()[1]

In this example, two green breakaway gaps last November identified the start of a new trend in CSCO, which filled three previous gaps down (in red), the first of which occurred back in July 2019:

Using the Gap Finder in Scripting

The GAP() function in scripting has four output values, allowing you to search for any conditions:

GapAbove – Price of the beginning of the next gap zone above.

GapBelow – Price of the beginning of the next gap below.

GapAboveSize – the width of the zone above (in $).

GapBelowSize – the width of the zone below (in $).

For example, to show how far in percent the current price action is above a gap below – based on a 0.5% gap – you would use this:

Microsoft is currently 4.1% above the partially-filled recent gap, and moving away:

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