Imbalance, this is a zone / gap created when the price move with force in a given direction. It identify a zone where the price could potentially go back. This gives perfect targets for your trades.
Imbalance is created from the high and low of 3 candles. When the wicks the of 1st and 3rd candle does not fully overlap the middle one.
You can define the penetration ratio which will delete a tested zone from the chart. Usually find that 20% (0.2) is pretty accurate.
Nota Keluaran
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Update screenshot with imbalanced zone displayed correctly
Nota Keluaran
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Add alert on new imbalanced candle Fix deletion of triggered imbalanced zone
Nota Keluaran
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Add note & fix screenshot
Nota Keluaran
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Just update screenshot
Nota Keluaran
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Add color option for boxes Add mid line for each boxes
The mid line can be used as specific target when using imbalanced zone as your potential target zone.
Nota Keluaran
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In this update you'll be able to select the timeframe you'd like the imbalance to be computed and displayed with (eg: 15min imbalance on a 5min chart)
Also a reduce option which will reduce the imbalance based on price touch within it.
Nota Keluaran
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Add new imbalance zone - daily and weekly open gap, which are relevant for non crypto market - volume imbalance with their own TF support
Wonderful script ! Kudos to you for this work ! :)
One more thing to have would be very nice : when an imbalance area gets partially filled, instead of deleting it, it would be nice to have an option to have it refined and redrawn.
store6152
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Can you write me an indicator that finds ftr zone zones?
avoterz123
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What is the purpose/meaning of the penetration ratio?
Dglittley1984
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Could you code in an alarm when imbalanced zones are hit? Would be great so could get a notification
Sultrades
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Thank you for this indicator. You have actually changed the way I trade and understand the market. Seriously, thank you.
Indyanguy12
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Kindly, Add option to change color of zones
frozon
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@Indyanguy12, thx for your request. I pushed an update with an option to change the color of the zones.
One more thing to have would be very nice : when an imbalance area gets partially filled, instead of deleting it, it would be nice to have an option to have it refined and redrawn.