OPEN-SOURCE SCRIPT

Label GAP Open %

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Functional Description:
The "GAP % open label" indicator is designed to calculate and instantly display the percentage gap at which an asset opens for the current session. Unlike standard indicators that track real-time price changes, this tool specifically anchors its calculation between today's opening price and the previous regular session's closing price (4:00 PM EST). This provides a static, precise data point that serves as a reliable psychological reference throughout the entire trading day.

Strategic Utility:
This tool is particularly valuable for traders focusing on high-volatility US equities, such as tech stocks or crypto-related assets. By displaying the opening gap directly on the chart with a clean, minimalist design, it allows for quick identification of the market's initial bias. It supports decision-making for "gap and go" strategies or for spotting potential mean-reversion opportunities when the price attempts to fill the opening gap, helping traders manage risk near key institutional liquidity levels.

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