Daily Gap Fill indicator

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Regular price $229.00

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1. Overview

On most days we see the market gapping up or down. A gap occurs when the market opens above or below the previous day's close. When this happens the market always has a tendency to close this gap. Most but not all of these gaps are filled within 1 trading session. Some though might take days, weeks, or months before they get filled. But in the end.. they always get filled. That is why many smart traders know about unfilled gaps and take advantage of the high probability that the market will fill an unfilled gap

A trader which knows where the next unfilled gaps are has a clear advantage in the market. Since probability tells us that the market will always try to close the gap whenever possible we can set up a clear trading plan if the market is within range of the next gap.

2. Plots all unfilled (and optionally filled) gaps

The Unfilled Gap Indicator shows all unfilled (and optionally filled) gaps. It allows you to never miss a gap that was created days or weeks ago. Unfilled gaps are presented as red lines on your chart from the point they were created to the present time. Filled gaps (if this option is enabled) are presented as brown lines on your chart, from the point they were created to the point they were filled.

As said before most gaps will fill within 1 trading session. That is why many smart traders only trade in the direction of the gap. But without an indicator like this, it is very easy to forget where the next gap is, and how far we are away from it.

This indicator will plot all unfilled (and optionally all filled) gaps on your chart so you never miss one again

Gapp fill indicator NinjaTrader

3. Gap-fill probability & stop loss placement

The only gap-fill indicator which tells you how likely it is that the gap will be filled today

This little feature is what makes our indicator truly unique. Based on all historical gap fills our gap-fill indicator will calculate what's the chance that today's gap will be filled during the current session, and even what is the most likely time for the gap fill

And what is the best place to put your stop loss based on all historical gap fills

But that's not all. The indicator will also show you the best stop loss placement based on the statistical analysis of all historical gap fills

In the screenshot below you can see that this gap had a 30,43% of getting filled during the session with a 72% of this happening before 11:15

The red line below the gap-fill indicates the best place to put your stop loss

4. Statistics for all historical gaps

If you turn on the statistics, the indicator will show you all the statistics from all historical gap

4.1 Overal statistics

On the left top, you can see the total number of gaps and how many gaps are filled. In this case, we have 353 gaps, of which 326 are filled. On average 61.9% of all gaps are filled within the same trading day. Furthermore, we see that 61% are gap downs and 38% are gap ups

4.2 Statistics per gap range

Below we can see all the statistics for each gap range.

For example, we can see that a gap from 5-10 points has a 70.89% likelihood to be filled within 1 day. Of course, this is very valuable information. If you see a 10 point gap and you know it has a 70% chance of filling that day, you will have much more confidence in trading this gap fill

Gapfill statistics

4.3 Statistics per gap-fill time

Next to the gap range statistics, we see statistics that display when most gap fills take place. For example in the screenshot below we can see that most gap fills occur before 10:30