OPEN-SOURCE SCRIPT
Unfilled Gap Marker
This indicator identifies true price gaps and flags the ones that stay unfilled through a user-defined window — by default, four days including the gap candle itself.
It is built on an old floor-trading rule, shared anecdotally by veteran trader Linda Raschke, who learned it on the trading floor around 45 years ago: when a gap forms and price does not trade back into the gap area within the next four days, the move tends to continue in the direction of the gap for roughly the next two weeks (about 14 days). Raschke has said this rule holds up around 90% of the time in her experience. That figure is her anecdotal observation — it has not been independently backtested by me, and you should verify it yourself before relying on it. The indicator does one job precisely — it detects each qualifying gap, tracks whether price re-enters the empty band before the window closes, and marks the gap with a triangle only if it survives unfilled.
By default the signal prints on the third day of a four-day window, one day before the window closes. This is deliberate: it surfaces the setup while a day still remains, so you can watch that final day rather than being notified only after the window has already passed.
What it does
It detects true gaps — where a candle's range does not overlap the previous candle's range at all — not just an open above or below the prior close. A gap up requires the current low to be above the previous high; a gap down requires the current high to be below the previous low. This is the stricter, more meaningful definition of a gap: an actual empty band on the chart.
Once a gap forms, the indicator watches whether price trades back into that empty band. The near edge of the gap (the prior high for an up gap, the prior low for a down gap) is the level that must hold. If price does not fill the gap within the window, the indicator marks it:
Green triangle below the bar — unfilled gap up
Red triangle above the bar — unfilled gap down
An optional label and a shaded zone over the gap band can be turned on for clarity.
Settings
Min gap size (%) — ignore gaps smaller than this. Set to 0 to catch every true gap.
Window (days) — how many days the gap must stay unfilled, counting the gap candle as day one.
Trigger on day N — which day the signal prints. Default is day 3, so the signal appears with one day still left in the window, letting you monitor the final day before acting.
Toggles for the label and the shaded gap zone.
How to use it
Treat the triangle as a heads-up, not a trade command. Because the default trigger is day 3 of a 4-day window, the signal is provisional — the final day can still fill the gap after the triangle appears. Use it to bring a chart to your attention, then apply your own confirmation, risk management, and position sizing.
You can add an alert on the signal conditions to be notified when a qualifying gap holds.
Important notes and limitations
This is a study tool, not a strategy, and it does not place trades or guarantee any outcome. The underlying rule is an anecdotal floor-trading heuristic, not a proven edge. The ~90% success rate is Linda Raschke's stated experience, not a tested or verified statistic — I have not backtested it, and it should be checked across many symbols and timeframes before being relied on, since a pattern that looks convincing on one chart or in one trader's recollection often weakens under systematic testing. Many large unfilled gaps follow earnings or news, so some of what this flags may reflect post-earnings drift rather than the gap itself.
The signal evaluates on the trigger day's price and only settles when that candle closes; on a live, still-forming candle it can appear and then change before the close.
Nothing here is financial advice. Test thoroughly and trade at your own risk.
It is built on an old floor-trading rule, shared anecdotally by veteran trader Linda Raschke, who learned it on the trading floor around 45 years ago: when a gap forms and price does not trade back into the gap area within the next four days, the move tends to continue in the direction of the gap for roughly the next two weeks (about 14 days). Raschke has said this rule holds up around 90% of the time in her experience. That figure is her anecdotal observation — it has not been independently backtested by me, and you should verify it yourself before relying on it. The indicator does one job precisely — it detects each qualifying gap, tracks whether price re-enters the empty band before the window closes, and marks the gap with a triangle only if it survives unfilled.
By default the signal prints on the third day of a four-day window, one day before the window closes. This is deliberate: it surfaces the setup while a day still remains, so you can watch that final day rather than being notified only after the window has already passed.
What it does
It detects true gaps — where a candle's range does not overlap the previous candle's range at all — not just an open above or below the prior close. A gap up requires the current low to be above the previous high; a gap down requires the current high to be below the previous low. This is the stricter, more meaningful definition of a gap: an actual empty band on the chart.
Once a gap forms, the indicator watches whether price trades back into that empty band. The near edge of the gap (the prior high for an up gap, the prior low for a down gap) is the level that must hold. If price does not fill the gap within the window, the indicator marks it:
Green triangle below the bar — unfilled gap up
Red triangle above the bar — unfilled gap down
An optional label and a shaded zone over the gap band can be turned on for clarity.
Settings
Min gap size (%) — ignore gaps smaller than this. Set to 0 to catch every true gap.
Window (days) — how many days the gap must stay unfilled, counting the gap candle as day one.
Trigger on day N — which day the signal prints. Default is day 3, so the signal appears with one day still left in the window, letting you monitor the final day before acting.
Toggles for the label and the shaded gap zone.
How to use it
Treat the triangle as a heads-up, not a trade command. Because the default trigger is day 3 of a 4-day window, the signal is provisional — the final day can still fill the gap after the triangle appears. Use it to bring a chart to your attention, then apply your own confirmation, risk management, and position sizing.
You can add an alert on the signal conditions to be notified when a qualifying gap holds.
Important notes and limitations
This is a study tool, not a strategy, and it does not place trades or guarantee any outcome. The underlying rule is an anecdotal floor-trading heuristic, not a proven edge. The ~90% success rate is Linda Raschke's stated experience, not a tested or verified statistic — I have not backtested it, and it should be checked across many symbols and timeframes before being relied on, since a pattern that looks convincing on one chart or in one trader's recollection often weakens under systematic testing. Many large unfilled gaps follow earnings or news, so some of what this flags may reflect post-earnings drift rather than the gap itself.
The signal evaluates on the trigger day's price and only settles when that candle closes; on a live, still-forming candle it can appear and then change before the close.
Nothing here is financial advice. Test thoroughly and trade at your own risk.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.