jp7fx

Imbalance/FVG - Candles and Lines Indicator (@JP7FX)

Imbalance and Fair Value Gaps are created when Price moves away in one direction at speed / impulsively.

A gap is created between the first and third candle wick which creates the Imbalance / Fair Value Gap and is sometimes a potential area of where the market could return
making the area a good place to look to trade from or to aim for.

This Imbalance / Fair Value Gap indicator will change the color of the candles where these gaps have been created and also created a Line at the start of the Gap.

Although the candle color will not change, the lines however will be removed when price has closed the Gap making it easier to look for the untouched Imbalance / Fair Value Gaps when opening the charts or changing between timeframes and allowing you to create your potential areas to trade from or areas to target.

You are also able to add a shape on the gaps and change style of lines created along with the width and length.

From the testing I have carried out whilst trading, using more than a 500 bar look back seems to cause issue so this is the max you can set the candle look back.

There are other Imbalance / Fair Value Gap indicators but I just wanted to create one with a few additional options which suited my trading style.

Hope you find it useful and happy safe trading :)

Информация о релизе: UPDATE - Have added an input (Max number of Imbalance/FVG Lines?) to allow the number of Imbalance lines to be drawn - default is 10.
Just remember the higher this number the more the script has to work.
10 Should be more than enough to look for areas on higher timeframes.
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Also alerts are added should you wish the script to alert you when Imbalance / Fair value Gaps haven been created.
Again I would suggest for Higher Timeframes as this could also be used to identify an Impulsive move.

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