Simple ICT Order Blocks and Fair Value Gaps by Gowtham Kannakaje

25 Feb 2023

This scripts identifies ICT Order Block and ICT Fair Value Gaps

Fair Value Gap:
- Fair Value Gap toggle is off by default
- Users can choose to color the bars having Fair Value Gaps or can select to define the Fair Value Gap using boxes.
- Bar color and box colors can be customized

Order Blocks:
- Order Block box and candle color toggle is on by default
- Users can choose to color the Order Block candles or can select to define the Order Blocks using boxes.
- Bar color and box colors can be customized for bullish and bearish Order Block separately

Note:
- Order Blocks are considered valid only if the candle forming the Fair Value Gap closes away from the Order Block.
- Since Trading View limits the number of boxes to 500, it is advised to use the Color Candle option to identify the Order Blocks or Fair Value Gaps which are very old.

New concept Definitions:
Naked OB : An order block whose immediate next candle forms a Fair Value Gap. Here, the Order Block high or low contributes to the formation of Fair Value Gap.
Covered OB : An order block whose immediate next candle doesn't form a Fair Value Gap. Here, the Order Block high or low doesn't contribute to the formation of Fair Value Gap. Instead it will have other candles in between the Order Block and Fair Value Gap.


Disclaimer: The usage of this indicator might or might not contribute to your profits and losses and the author is not responsible for the same.

Happy Trading.

29 Apr 2023

Nota Keluaran

All the features in the previous script retained.

Newly added:
Alerts : Now users can set alerts on the order blocks.

5 Jul 2023

Nota Keluaran

All the features in the previous release is retained.

Newly added feature:
Users can set the color of the text in the OB boxes. This enables the users to remove the text by setting the transparency to zero. Thus, reduces distraction by addressing clumsy charts when zoomed out.

24 Jul 2023

Nota Keluaran

All the features in the previous script retained.

Newly added:
Alerts : Now users can set alerts on the Fair Value Gaps.

26 Jul 2023

Nota Keluaran

Glad to come up with the fully fledged version of this indicator. Hope this serves the purpose and addresses major concerns.

Concepts of the previous script is retained same.

Major changes:
1. Order Block and Fair Value Gap boxes are extended to the right for better visualization.
2. OB and FVG mitigation type can be selected using candle close or candle wick.
3. Users can choose to display mitigated OB and FVG boxes separately using toggle.
4. Introduced different color schemes for OB and FVVG to avoid confusion.

26 Jul 2023

Nota Keluaran

Added a toggle box to retain the simplicity of the indicator by removing the extended boxes.

7 Nov 2023

Nota Keluaran

This revision includes only rearrangement of input options

10 Nov 2023

Nota Keluaran

This is a major update to the indicator.
- Introduced Multiple timeframe plotting
- Now users can plot 3 timeframe FVGs together in the chart
- Current timeframe is default and the display can be kept simple or extended bars
- Also users can add 2 other timeframe FVG plotting
for ex. on a 5 min chart, now we can plot 1H and 4H FVGs as well.
- The selection of HTF is user defined and the box and color can be customized as well.
- If users want to delete the mitigated FVG boxes, they have to use the option nested under
FVG section

Based on the feedback received on this indicator, similar update on Order Blocks will be done.

10 Nov 2023

Nota Keluaran

Rolling Back previous changes for a short time

10 Nov 2023

Nota Keluaran

This is a major update to the indicator.
- Introduced Multiple timeframe plotting
- Now users can plot 3 timeframe FVGs together in the chart
- Current timeframe is default and the display can be kept simple or extended bars
- Also users can add 2 other timeframe FVG plotting
for ex. on a 5 min chart, now we can plot 1H and 4H FVGs as well.
- The selection of HTF is user defined and the box and color can be customized as well.
- If users want to delete the mitigated FVG boxes, they have to use the option nested under
FVG section

Based on the feedback received on this indicator, similar update on Order Blocks will be done.

15 Dis 2023

Nota Keluaran

Here the HTF option is disabled by default considering the issues with free users getting an error of too many candle references. This can be enabled manually. But, for free users Trading view doesn't allow the complete power of the indicator. There will be a workaround by referencing lesser candles in future.