FVG Smart Scanner

9 jam lalu

This script helps traders identify potential trading opportunities by combining Fair Value Gaps (FVGs) with other technical indicators. Here's what it specifically looks for:

Fair Value Gaps:


Spots price gaps that form when price moves quickly, leaving unfilled areas
Identifies both bullish gaps (potential upward moves) and bearish gaps (potential downward moves)
Visualizes these gaps as colored boxes on your chart (green for bullish, red for bearish)


Trend Confirmation:


Uses two EMAs (20 and 50 period) to confirm market direction
Shows trend lines in blue (20 EMA) and purple (50 EMA)


Momentum Check:


Uses RSI (Relative Strength Index) to check if the market is overbought or oversold
Default settings: Overbought = 70, Oversold = 30


Trading Signals:


Shows green triangles below price for potential buy signals when:

A bullish gap is found
RSI shows oversold conditions
20 EMA is above 50 EMA


Shows red triangles above price for potential sell signals when:

A bearish gap is found
RSI shows overbought conditions
20 EMA is below 50 EMA




Customizable Settings:


Lookback period (how far back to scan for gaps)
FVG threshold (minimum gap size to consider)
RSI settings (length and thresholds)


Alert System:


Can notify you when potential buy or sell setups occur
Helps you catch opportunities even when not watching the chart

This indicator is best used on any timeframe where you want to spot potential reversals or continuation moves based on unfilled price gaps.