The Gap & Imbalance Detector is a multi-timeframe market-structure tool designed to highlight price inefficiencies that often act as future targets or reaction zones. It automatically detects and visualizes two core elements of auction behavior: true session gaps and volume imbalance zones. These zones can help traders identify unmitigated price areas, directional intent, and potential turning points.

1. True Session Gaps

A session gap occurs when the market opens at a different price than the previous session’s close, leaving a clean void on the chart.
The indicator:

• Tracks the previous regular-trading-hours (RTH) close
• Compares it to the next session’s open
• Automatically draws a zone when a true gap exists
• Extends the gap forward until price fully mitigates it

Bullish gaps are shaded one color, bearish gaps another.
Once price fills the gap according to your chosen logic, the zone is either removed or converted into a historical reference level.

2. Volume Imbalance Zones

Imbalances form when the market moves aggressively from one price to another without meaningful two-way trading. These moves often leave behind “inefficient” price areas that the market revisits later.

The indicator:

• Analyzes each bar for directional displacement
• Detects bullish and bearish imbalances based on open/close relationships
• Marks the imbalance with a dynamic zone
• Extends the zone forward until price trades back through it

You can enable imbalances on the primary timeframe or add additional timeframes for broader context, such as 15-minute, tick, or range charts.

3. Flexible Fill Logic

Each zone can be considered “mitigated” using one of two settings: Strict Logic

A zone is filled only when price closes beyond or opens beyond the boundary. Loose Logic

A simple wick touch is enough to consider the area mitigated.

This flexibility allows traders to adjust the tool depending on their trading style.

4. Multi-Timeframe Engine

The indicator supports up to three simultaneous data feeds:

• Primary chart timeframe
• A secondary custom timeframe (e.g., 15-minute)
• An optional third timeframe (e.g., 1987-tick or range bars)

Each timeframe uses its own color scheme, making it easy to understand where each imbalance originates.

5. Dynamic Price Labels

Active zones display clean price labels on the left or right side of the chart.
Labels automatically track the extended zone, updating in real time as price moves.

6. Automatic Historical Conversion

When a zone is eventually filled:

• It can disappear completely, or
• It can convert into a historical reference zone if those settings are enabled

This keeps the chart clean while still preserving high-value past information.

Summary

The FreeIndicators Gap & Imbalance Detector is a powerful market-structure visualizer that:

• Tracks and displays true RTH session gaps
• Detects and highlights bullish/bearish imbalance zones
• Extends these areas forward until completely mitigated
• Supports multiple timeframes
• Includes strict or loose fill logic
• Keeps charts clean with optional historical storage
• Adds optional dynamic price labels for clarity

It’s a fast, reliable way to understand where the market has left unfinished business — and how price interacts with these areas over time.