UTT Gap Analyzer — TradingView Gap Statistics Scanner with Trend & Volume Filters

Description

The UTT Gap Analyzer turns the overnight gap from a thing you notice into a thing you can measure. It detects every gap where the open moves away from the previous close by more than your threshold, sorts each one into four categories, and then keeps score on every category as history runs – so instead of a general sense that gaps tend to fill, you get a sample count, a win rate, an average return and a profit factor for each type on the instrument in front of you.

The four categories are the whole idea. A gap is first classified bullish or bearish, then split again by whether it moved with or against the prevailing trend as measured by a 200-period SMA. Bull gaps opening above the average are with-trend continuation; bull gaps opening below it are counter-trend, and behave very differently. The same split applies on the bear side. Keeping these four apart is what stops a strong continuation edge being averaged into nothing by counter-trend noise pulling the other way.

A relative volume filter sits in front of everything. A gap on ordinary participation is mostly a pricing adjustment; a gap on 1.5x the twenty-day average volume is someone acting on information. Both filters are optional, and turning them off widens the sample if you want to see the unfiltered base rate first.

Evaluation is configurable. Leave the evaluation window at zero and each gap is scored on its own day, open to close. Set it to between one and ten days and the script measures from the gap open to the close that many bars later, which answers the more useful question of whether the move persisted rather than simply whether the first day was green. Triangles mark each gap by category and a cross marks the evaluation exit, so you can see exactly what was measured and when.

The statistics table reports samples, win rate, average return and profit factor per category, with a total row aggregating all four, rendered in the UTT navy and gold theme and positionable in any of six corners. Alert conditions are exposed for all four signal types so TradingView can notify you on a qualifying gap without the chart open.

Built for daily charts on stocks and indices, where real gaps exist. Note that continuously-traded instruments such as Deriv synthetics and most crypto rarely gap, so this is a tool for session-based markets rather than for the synthetic indices.

Pine Script v6, full source included, nothing obfuscated. Free TradingView download.

Attribution: derived from the Gap Analyzer originally published on TradingView by SadashiTrading. The original detection, evaluation and statistics logic is the original author’s work and the credit for it stays with them; the UTT edition adds the aggregate total row, the alert conditions and the dark-theme table. The attribution notice is preserved in the source header and must remain intact if you redistribute it.