Legit LGCs [Trader_xB concept] — Indicator by mirrorrr

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Hi.

Firstly, rules for this script (in the future I will make it possible to choose how many candles do you want to lookback for 'strong LGCs'). For now, rules are:

1. Weak LGC:
-Just identifies gap candle:
Bullish high (previous candle) < low (after candle)
Bearish low (previous candle) > high (after candle)

2. Strong LGC:
-Makes sure the gap is not engulfed by 4 candles preceeding it and 2 candles after it
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Release Notes:

code refactoring

Release Notes:

code refactored

Release Notes:

code refactored

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?