From TradersList Editors
From TradersList Editors
Identify day-specific gap patterns to make informed trading decisions with this comprehensive price action indicator.
Identify day-specific gap patterns to make informed trading decisions with this comprehensive price action indicator.
Day of Week Gap Analytics Indicator for ThinkOrSwim: Track Cumulative Gap Performance by Weekday
Day of Week Gap Analytics Indicator for ThinkOrSwim: Track Cumulative Gap Performance by Weekday

by ommni007 on ThinkOrSwim

by ommni007 on ThinkOrSwim
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Day of Week Gap Analytics For ThinkOrSwim
Day of Week Gap Analytics For ThinkOrSwim
Day of Week Gap Analytics For ThinkOrSwim is a free Indicator that analyzes cumulative tick changes on gap bars for each day of the week for discovering time based statistical edge.
Day of Week Gap Analytics For ThinkOrSwim is a free Indicator that analyzes cumulative tick changes on gap bars for each day of the week for discovering time based statistical edge.

Get on ThinkOrSwim
This indicator is available on ThinkOrSwim charting platform. Signing up for a free account and downloading ThinkOrSwim software is required.

Get on ThinkOrSwim
This indicator is available on ThinkOrSwim charting platform. Signing up for a free account and downloading ThinkOrSwim software is required.
🔑
Open Source
Listing has publically available source code that can be audited and modified as needed.
🔑
Open Source
Listing has publically available source code that can be audited and modified as needed.
💸
Free Access
All features of this listing are fully free to use with no pricing tiers. Simply start using.
💸
Free Access
All features of this listing are fully free to use with no pricing tiers. Simply start using.
✅
Robust Theory
Concepts and theories mentioned in listing are based on generally approved and well established notions.
✅
Robust Theory
Concepts and theories mentioned in listing are based on generally approved and well established notions.
Published by ommni007 on ThinkOrSwim
Published by ommni007 on ThinkOrSwim
Gap Behavior by Weekday
Market gaps - the difference between one session's close and the next session's open - behave differently depending on the day of the week. This indicator analyzes cumulative tick changes on gap bars for each weekday, revealing which days produce the most reliable gap-based trading opportunities.
Statistical Edge Through Time Analysis
By aggregating gap data across your chart history, the indicator builds a statistical profile of each weekday's gap tendencies. If Monday gaps tend to fill 70% of the time while Friday gaps rarely fill, this data directly informs your decision to fade or follow the opening gap.
Gap Behavior by Weekday
Market gaps - the difference between one session's close and the next session's open - behave differently depending on the day of the week. This indicator analyzes cumulative tick changes on gap bars for each weekday, revealing which days produce the most reliable gap-based trading opportunities.
Statistical Edge Through Time Analysis
By aggregating gap data across your chart history, the indicator builds a statistical profile of each weekday's gap tendencies. If Monday gaps tend to fill 70% of the time while Friday gaps rarely fill, this data directly informs your decision to fade or follow the opening gap.
Cumulative Tick Change Tracking
Rather than measuring gaps by price alone, the indicator tracks cumulative tick changes within gap bars. This captures how the market reacted after the gap formed - whether it continued in the gap direction or reversed. The cumulative view shows the net outcome across many occurrences.
Building a Day-Based Trading Plan
Combine the weekday gap data with your existing strategy for sharper timing. If your gap-fade strategy shows strong results on Tuesdays and Wednesdays but poor results on Mondays, you can filter your trades accordingly - only taking setups when the statistical edge aligns with your method.
Cumulative Tick Change Tracking
Rather than measuring gaps by price alone, the indicator tracks cumulative tick changes within gap bars. This captures how the market reacted after the gap formed - whether it continued in the gap direction or reversed. The cumulative view shows the net outcome across many occurrences.
Building a Day-Based Trading Plan
Combine the weekday gap data with your existing strategy for sharper timing. If your gap-fade strategy shows strong results on Tuesdays and Wednesdays but poor results on Mondays, you can filter your trades accordingly - only taking setups when the statistical edge aligns with your method.
Statistical edge into time and price
Statistical edge into time and price
Market gaps behave differently depending on the day of the week. This indicator analyzes cumulative tick changes on gap bars for each weekday, revealing which days produce the most reliable gap-based trading opportunities.
Market gaps behave differently depending on the day of the week. This indicator analyzes cumulative tick changes on gap bars for each weekday, revealing which days produce the most reliable gap-based trading opportunities.
Analyze Gap Behavior by Weekday
The indicator builds a statistical profile of each weekday's gap tendencies. If Monday gaps fill 70% of the time while Friday gaps rarely fill, this informs your decision.
Layer Gap Statistics with Your Strategy
Cumulative tick tracking shows how the market reacted after gaps formed. The cumulative view reveals net outcomes across many occurrences.
Filter Trades by Statistical Advantage
Combine weekday gap data with your existing strategy. Only take setups when the statistical edge aligns with your method for sharper timing.
Common Questions About Weekday Gap Analysis
Common Questions About Weekday Gap Analysis
Gap behavior varies by weekday, creating statistical tendencies traders can exploit. Here are common questions about applying day-of-week gap analysis.
Gap behavior varies by weekday, creating statistical tendencies traders can exploit. Here are common questions about applying day-of-week gap analysis.
What does cumulative tick change on gap bars measure?
Cumulative tick change tracks how price moved after the gap formed rather than just the gap size itself. It shows whether the market continued in the gap direction or reversed. This net outcome across many occurrences reveals day-specific tendencies.
Why would gaps behave differently on certain weekdays?
Scheduled economic releases, earnings clusters and institutional behavior patterns create weekday biases. Monday gaps may reflect weekend news absorption. Friday gaps may reflect position squaring. These recurring drivers create statistical tendencies.
How do I incorporate this data into my gap trading strategy?
Filter your gap trades by weekday statistics. If your fade strategy works well on Tuesdays but poorly on Mondays, avoid Monday setups. The analytics sharpen timing by aligning your entries with days that historically favor your approach.
🌐
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Web sentiment
Web sentiment
Traders generally feel positive about Day of Week Gap Analytics For ThinkOrSwim, finding it informative, practical, and a valuable addition to their trading strategies.
Traders generally feel positive about Day of Week Gap Analytics For ThinkOrSwim, finding it informative, practical, and a valuable addition to their trading strategies.
Source: Online Discussion
Source: Online Discussion
Source: Online Discussion
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TradersList Reviews (6)
TradersList Reviews (6)
TradersList Community has given this listing four stars, indicating a well trusted listing with great utility value. This listing is one of the better ones on TradersList.
TradersList Community has given this listing four stars, indicating a well trusted listing with great utility value. This listing is one of the better ones on TradersList.
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Source: TradersList Reviews
Source: TradersList Reviews

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Wick Pressure For ThinkOrSwim
🔑
Wick Pressure For ThinkOrSwim is an Indicator that analyzes multiple wick formations at overbought and oversold levels for a filtered and refined identifying of buying and selling pressure.

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by benten

Free
ThinkOrSwim Indicator
Leledc Exhaustion Indicator For ThinkOrSwim
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Leledc Exhaustion Indicator for ThinkorSwim is an indicator based on price action patterns associated with potential trend exhaustion, signaling when a trend may be ending or nearing a correction in its current direction.

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by armybender

Free
ThinkOrSwim Indicator
Ehler's Instantaneous Trend [LazyBear] For ThinkOrSwim
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Ehler's Instantaneous Trend [LazyBear] For ThinkOrSwim is a free moving average Indicator based on Ehler's Instantaneous Trend. This moving average is calculated based on John Ehler's earliest implementations, acting similarly to Hull Moving Average (HMA) with minimal lag.
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Disclaimer
Our goal is to achieve greater transparency, guidance and safety in trading and investing by providing means to discover, research and discuss trading/investing related sites/services.
Content provided on this site is not financial advice, meant for educational purposes only. TradersList does not endorse or guarantee any result for listed sites/services. Do your own research.
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Disclaimer
Our goal is to achieve greater transparency, guidance and safety in trading and investing by providing means to discover, research and discuss trading/investing related sites/services.
Content provided on this site is not financial advice, meant for educational purposes only. TradersList does not endorse or guarantee any result for listed sites/services. Do your own research.
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