A gap represents an area where no trading takes place. It is essentially an empty space between one trading period and the previous trading period.
Area GAP: The GAP appears between demand and supply zone with low volume.
Breakout GAP: The GAP appears during a breakout with high volume.
Runaway GAP: The GAP appears after the breakout and while moving in the trend with significant volume.
Exhaustion GAP: The GAP is created at the start of the day(starting price is much higher than the previous day’s highest price) in the trending area but gets closed by end of the day with Red body(in case of Bearish) with high volume