This is a gap detector. It is an enhanced version of the original iGap indicator, with the difference that this indicator can generate trading signal directly on the main chart.
■When the opening price of the bar is above the previous close (Upside Gap), a blue arrow signal appears on the chart on the current bar.
■When the opening price of the bar is below the previous close (Downside Gap), a red arrow signal appears on the chart on the current bar.