Weekend % Gap in Price by eccuity.com

This indicator displays the percentage gap between each week's closing price and the following week's opening price on weekly charts.

How it works:

• Calculates the gap as: (Week Open - Previous Week Close) / Previous Week Close × 100
  
• Displays a label above each weekly candle showing the gap percentage
  
• Green labels indicate a gap up (market opened higher than prior close)
  
• Red labels indicate a gap down (market opened lower than prior close)
  

Features:

• Only displays on weekly timeframes
  
• Shows a summary table with the last 8 weeks of data including dates, prices, and gap percentages
  
• Calculates a running average of all weekend gaps
  
• Configurable label size (tiny, small, normal)
  
• Alert condition for gaps exceeding a customizable threshold
  

Use cases:

• Identify weekend sentiment shifts and overnight risk
  
• Analyze historical gap patterns for a specific instrument
  
• Track how news and events over weekends impact opening prices
  
• Copy gap data from the table for further analysis
  

Note: The indicator uses the weekly bar's open and previous bar's close, which automatically accounts for market holidays (e.g., if the market closes Thursday or opens Tuesday).