Balanced Price Range (BPR)

5 Okt 2022

This script finds BPR's, which some simply refer to as a "double Fair Value Gap" (FVG). In a BPR, there is an overlapping vertical area between a recent bullish and bearish FVG. You may tune the parameters to filter out smaller FVG's or BPR's, as well as how far back the indicator must look to find a matching pair.

5 Okt 2022

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Two updates:

1. You can edit the color used to draw the BPR boxes
2. New "Only Clean BPR" setting that, when checked, doesn't show BPR's when price interferes with the range prior to its creation. Leaving it off will show all BPR's regardless of how price traded in between the bearish and bullish FVG's

5 Okt 2022

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Updating the chart image

5 Okt 2022

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Fixed minor issue with the last update regarding "Only Clean BPR" setting

10 Okt 2022

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Updated the threshold values such that:

1. The default value is 0 for both, that way all BPR's will show (to avoid confusion for new users)
2. Valid FVG's and BPR's will be considered if their range is greater than *or equal to* the threshold value, instead of greater than

12 Okt 2022

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Two updates:

1. You can now add alerts that will tell you when a new BPR is created
2. New "Delete Old BPR" setting that, when enabled, will delete all old BPR's that have been invalidated or overwritten

12 Okt 2022

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Edited alert function so that users can edit the message sent when a new BPR is created

13 Okt 2022

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Fixed an issue where BPR's were being created and alerted before the following candle had a chance to invalidate the range (needed to delay bear/bull signals by one bar)

31 Okt 2022

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Removed the FVG threshold to avoid confusion. All FVGs will now be considered for a potential BPR

31 Okt 2022

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Updating thumbnail image

31 Okt 2022

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Updated script titles