Overview of the WRB-Hidden-Gap Indicator
The WRB-Hidden-Gap indicator identifies Wide Range Bars (WRBs) and highlights their hidden gaps using shaded rectangles. These gaps often represent institutional activity or price imbalances, making them important areas of interest for traders. The indicator plots these zones clearly, helping users visualize potential support and resistance levels created by sudden price expansions.
By marking only the gap between the open and close of WRBs, rather than the entire bar, the indicator gives a cleaner and more targeted view of price imbalances, especially useful in strategies involving supply-demand analysis or order blocks.
How to Use It in Practice
In practical use, the WRB-Hidden-Gap indicator can help you:
- Spot hidden gaps left behind by strong moves (Wide Range Bars).
- Identify potential support or resistance zones.
- Anticipate institutional interest zones based on price expansion areas.
- Improve your entry/exit timing using WRB gap reactions.
It is especially useful for intraday and swing traders who use price action, volume, or supply-demand-based strategies.
Parameter Explanations
UseWholeBars
If true, the indicator draws the entire WRB as a zone. If false, it only highlights the hidden gap (between open and close).
WRB_LookBackBarCount
Defines how many bars back to look when identifying whether a candle qualifies as a WRB.
WRB_WingDingsSymbol
Sets the Wingdings symbol to mark the WRB visually on the chart. This is for added clarity.
HGcolor1
Sets the main fill color for the gap zones.
HGcolor2
Defines the secondary color (often used for borders or blending effect in the zone).
HGstyle
Determines the border style of the zone, such as solid or dashed.
StartCalculationFromBar
Controls from which bar in history the calculation begins. Useful to limit backtest range for performance reasons.
HollowBoxes
If set to true, the boxes will be drawn as hollow outlines. If false, they are solid filled zones.
DoAlerts
Enables or disables alert notifications when a WRB and hidden gap is detected.
