ICT - GAPs and Volume Imbalance
GAPs
Gaps are areas on chart where the price have moved sharply up or down, with no trading in between. Gaps often fill, but they don't have to.
Volume Imbalance
Volume imbalance - determined using 2 candles
Bullish Volume Imbalance - area between the close of 1st candle and the open of 2nd candle
Bearish Volume Imbalance - area between the close of 1st candle and the open of 2nd candle
How to use the indicator:-
When you find imbalance in volume or a GAP in the chart, you may expect price to rebalance it before continuation.
Importantly, GAPs/Imbalances do not always fill. Traders should never assume that a gap/imbalance will fill without understanding the reasons for the gap and monitoring trading activity around the gap.
Pair it with your current bias for better results.
Imbalance
Sonarlab - Double Fair Value Gap (DFVG)The Double Fair Value Gap will give great zones where price in the future can react off. The script is Multi Timeframe. Of course the name says it already, the script basically searches for area's where a FVG gets rebalanced with another Fair Value Gap - a double fair value gap. Amazing for searching strong buying and selling pressure in the markets.
You can see below for example that price creates a Double Fair Value Gap and comes back to fill it.
You can customize the script how you like it, with the following settings and inputs:
Show double fair value gap
DFVG Lookback: {value}
Display Limit {value}
Colors: Bullish and Bearish DFVG
Extension
Extend to {recent or max}
Custom extension: {value}
Mitigation
Mitigated: {remove or stop}
Mitigation level {value %}
Customize Box Text
Premium Zone
Midline
Show midline
Styling settings
Alerts]
Bullish Alert
Bearish Alert
Automatic Order Block + Imbalance by D. BrigagliaThis script combines automatic orderblock and imbalance tracking.
Bullish OB - Blue
Bullish Imbalance - Green
Bearish OB - Red
Bearish Imbalance - Orange
Please note that the actual definitions of orderblock and imbalance are not respected in this script for the sake of simplicity. Scripts that are too complex may overfit some particular chart. Since there is no way to translate the actual ob and imb definitions into pinescript language, I decided to keep it simple.
Ideally, you want to see a bullish OB followed by buy side imbalance, or viceversa. OBs that are broken weakly are generally invalidated, ones that are broken strongly generally become breakers, and you can use them as good support/resistance levels.
Also, a good thing you can do when an OB and an imbalance match, is going in the lower timeframes and catching the structure reversal in the OB or imbalance zone. That may provide excellent RR trades. Always trade with OB that confirm the HTF trend.
Nothing in my content on tradingview is considerable investment advice.
FVG / Imbalance ZONES (@JP7FX)Fair Value Gaps / Imbalance 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 create a zone.
Although the candle color will not change, the zone however will be removed when price has closed the Gap making it easier to look for the untouched Fair Value Gaps / Imbalance when opening the charts or changing between timeframes and allowing you to create your potential areas to trade from or areas to target.
You can set alerts for when a FVG / Imbalance zones are created and also for when the zone gets mitigated by price.
Hope you find it useful and happy safe trading :)
FVG Madness [JoseMetal]============
ENGLISH
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- Description:
FVG (Fair Value Gap) / imbalances are inefficiencies in the price action generated by violent prices changes, the market is supposed to try to fill or at least retest these later on.
This is just one of the "Smart Money Concepts" or "Institutional trading", and there are different strategies to trade them.
Some use them as "price magnets", but in my case I use them to let orders placed on the "entry" line and take profit on the "exit" line, for both LONG or SHORT.
Others use them as reversal points (50% of the FVG), that's why I added a 50% line to each FVG, I want to make it usable for every single strategy related to FVGs.
Take your time to back test, study, and pick the best strategy for you as you'd do with any other indicator.
- Visual:
So like a "generic" FVG indicator this one also prints the FVGs, colors are customizable for both, bullish and bearish FVGs.
When a FVG is "touched" but not "filled" it changes color, which is also customizable.
As I said I use them as entry and take profit, so I added 3 lines, an entry line, midline and exit line, all have custom colors for both "untouched" and "touched" FVGs for better visualization.
- Customization:
All colors are customizable for both "untouched" and "touched" FVGs as well as their lines as well as the line style (so you can have dashed entry and exit for example but dotted midline, full customization).
You can pick to auto-delete a FVG if not filled completely but a percentage.
Entry and exit lines can be placed based on a percentage too.
Boxes for the FVGs can be extended or not.
There's an ATR (Average True Ratio) filter to ignore (don't plot) small FVGs which would only mess the chart, is custom, but default value is recommended.
- Usage and recommendations:
FVGs are supposed to work on any timeframes, i've seen traders using my strategy (placer a STOP LIMIT on the entry line and take profit on the exit line) even on 1 minute, however, if you have several FVGs you can aim to open a single position and take partial profit on each FVG.
Finally, on my back test i've seen that on 4H+ timeframes a lot of FVGs are only filled up to 50% as one of the mentioned strategies so make sure to move your stop to break even on that point or even close half or the position, just a recommendation to avoid absurd loses.
Enjoy!
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ESPAÑOL
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- Descripción:
Los FVG (Fair Value Gap) / imbalances son ineficiencias en la acción del precio generadas por cambios violentos en el mismo, se supone que el mercado trata de llenarlos o al menos volver a testearlos más tarde.
Éste es uno de los "Smart Money Concepts" o "Trading Institucional", y hay diferentes estrategias para operar con ellos.
Algunos los utilizan como "imanes del precio", pero en mi caso los utilizo para que las órdenes se coloquen en la línea de "entrada" y tomen ganancias en la línea de "salida", tanto para LONG como para SHORT.
Otros los usan como puntos de reversión (50% del FVG), por eso añadí una línea del 50% a cada FVG, quiero que sea utilizable para cada estrategia relacionada con los FVGs.
Tómate tu tiempo para hacer pruebas, estudiar y elegir la mejor estrategia como lo harías con cualquier otro indicador.
- Visual:
Al igual que un indicador FVG "genérico" este también dibuja los FVGs, los colores son personalizables para ambos, FVGs alcistas y bajistas.
Cuando un FVG es "tocado" pero no "llenado" cambia de color, que también es personalizable.
Como dije, los uso como entrada y toma de ganancias, así que agregué 3 líneas, una línea de entrada, una línea media y una línea de salida, todas tienen colores personalizados tanto para los FVGs "no tocados" como para los "tocados" para una mejor visualización.
- Personalización:
Todos los colores son personalizables tanto para los FVGs "intactos" como para los "tocados", así como sus líneas y el estilo de las mismas (por lo que puede tener la entrada y la salida punteadas, por ejemplo, pero la línea media punteada, personalización total).
Se puede elegir auto-borrar un FVG si es rellenado un determinado porcentaje en lugar de completo.
Las líneas de entrada y salida pueden ser colocadas en base a un porcentaje también.
Las cajas para los FVGs pueden ser extendidas o no.
Hay un filtro ATR (Average True Ratio) para ignorar (no dibujar) los FVGs pequeños que sólo ensuciarían el gráfico, es personalizado, pero se recomienda el valor por defecto.
- Uso y recomendaciones:
Los FVGs se supone que funcionan en cualquier marco de tiempo, he visto operadores que utilizan mi estrategia (colocar una orden en la línea de entrada y tomar ganancias en la línea de salida) incluso en 1 minuto, sin embargo, si se acumulan muchos FVGs pequeños se puede para abrir una sola posición y tomar ganancias parciales en cada FVG.
Por último, en mis pruebas he visto que en marcos de tiempo de 4H+ muchos FVGs sólo se llenan hasta el 50% como una de las estrategias mencionadas, así que asegúrate de mover tu stop para alcanzar el punto de equilibrio o incluso cerrar la mitad de la posición, es sólo una recomendación para evitar pérdidas absurdas.
¡Que lo disfrutéis!
Mark FVGsMark FVGs is marking FVG (stands for Fair Value Gap, other name is Imbalance or IMB) on your chart so that you can instantly detect them
It supports:
- marking bullish and bearish partly filled or unfilled FVGs of the current timeframe
- marking bullish and bearish already filled FVGs of the current timeframe
- marking bullish and bearish FVGs of the any 4 timeframes on your current timeframe
technically it re-builds them on the last bar or as soon as new realtime bar is updated. it looks with 1k bars back to find the nearest specific number of FGVs
Adjustments:
- changing the maximum number of FVGs to display.
- changing the color of FVG area
- displaying already filled FVG of the current time frame
- changing the mode of displaying area it can either extended or fixed width
- displaying labels of other time frame FVGs
Sonarlab - MTF Imbalance/ FVGAn imbalance is created when the order block creates such impulsive volume in the market that it throws off the equilibrium between buyers and sellers, forming a gap. This is referred to as imbalance or FVG. These gaps act as a magnet for price to retrace to, in order to correct the disturbance in market equilibrium.
Imbalances = FVG
This image above shows you how an imbalance is created in the market using 3 candles. As we all know, candle sticks represent a specific time-range - for example: 1H. This means that inside 1 candle stick, there are 60 1 minute candle sticks resting. What I'm trying to say with this is that you get a totally different picture when you are on the lower timeframes. An imbalance can be overlooked, so it can be very helpful to have the multiple timeframe Imbalances on your screen, so you understand what is actually going on in the bigger picture.
Usage
Focused on combining with SMC:
When trading SMC, Imbalances can be great for POI's (point of interests) or using as targets in the market. Imbalances work like magnets in the market. When the market is imbalanced, it mostly wants to balance those gaps and can sometimes react perfectly from the area's. Besides that, it can really give you an idea who is in control at that moment.
Here you can see an example of an Imbalance when on the 1H timeframe - in the next picture below you can see the exact same imbalance, but then on the 3M. Now you understand why it can be overlooked?
So, imbalances/ FVG's:
- Increase probability of certain Point of Interests
- Can be a sign of strong interest in price areas
- Can be used as targets
- Can be used as POI's
What makes this Imbalance indicator different?
The Sonarlab MTF Imbalance indicator makes it possible to show up to 3 higher timeframes, which makes it easier to do your analysis and spot these areas when trading.
Smart Money Concepts Premium (Expo)Are you a professional Smart Money Concept Trader?
█ This premium version of our SMC indicator includes all advanced Smart Money Concept Trading techniques. The indicator includes all the important concepts such as Market Structure, Change of Character, Current Trading Range, Premium & Discount , Fractals, and Swing Structure. The indicator includes the popular SMC Market Structure Trend to help traders analyze the trend.
In addition to these features, this version adds the following:
Multitimeframe option
Predicted Structure and Range
Backtesting option
External Range Liquidity
Internal Range Liquidity
Liquidity Grab
Fair Value Gap (FVG)
True Fair Value Gap
Imbalance
Order block
Orderflow
Supply & Demand
Equal Highs and Equal Lows
Point of Interest
An alert function that allows you to set any combination of alerts.
This indicator aims to be an all-in-one SMC indicator that helps Smart Money Traders automate their analyzes.
█ HOW TO USE
Use the indicator to trade advanced SMC Trading techniques.
█ Settings
The indicator is fully customized and can be adjusted to fit Swing Trading, Trend Trading, Day Trading, or Scalping.
The indicator works in any market and timeframe.
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Disclaimer
Copyright by Zeiierman.
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Swing Points & FVGClassic ITH/ITL
Intermediate Term High - High that has short term high on either of it's side.
Intermediate Term Low - Low that has short term low on either of it's side.
FVG
The indicator also marks Fair Value Gaps which is a very important concept in price action trading. FVGs are formed when there is ineffeciency,or imbalance, in the market.
Rebalanced ITH/ITL
Rebalanced ITH - A short term high that rebalanced the ineffeciency in price can be considered as an Intermediate Term High.
Rebalanced ITL - A short term low that rebalanced the ineffeciency in price can be considered as an Intermediate Term Low.
Use the ITH and ITL points marked by the indicator to determine the structure of the market.
Indicator repaints only when it tries to identify the latest ITH/ITL.
Ichimoku ImbalanceYou may have heard the word balance or imbalance
This indicator is designed based on Ichimoku periods to display imbalances in each period
When you see a black mark, it means that one of the Ichimoku periods is saturated or unbalanced
If the current candle was equal to the lowest price on 9/26/52 of the last period and the highest price was equal to the last candle from left on 9/26/52 of the last period
If the current candle was equal to the highest price on 9/26/52 of the last period and the lowest price was equal to the last candle from right on 9/26/52 of the last period
This indicator is a useful and powerful tool for Ichimoku traders to understand overbought and oversold points in different time periods.
Note: This is an auxiliary tool and does not issue buy and sell signals
ArtiumPro Smart Money ConceptsSmart money concepts refer to the use of institutional trading strategies which align with the perspectives of Smart Money in the market. i.e. the composite man. Market Structure is the foundation of price action trading, understanding price action is fundamental to SMC.
ArtiumPro SMC 2.1 is an SMC (Smart Money Concepts) indicator full of features to aid SMC traders. Our aim is to save you time with automatic chart mark-up and help you spot areas of interest you may miss with the naked eye.
Fvg (Fair Value Gap) - is also known as an imbalance. An FVG is an imbalance of orders, for instance, for sellers to complete their trades, there must be buyers and vice versa so when a market receives too many of one kind of order buys or sells, and not enough of the order's counterpart. When the amount is not balanced and too many orders are put in for one direction, it creates an imbalance.
Multi timeframe FVG - this will show the same as above but on the higher timeframe you choose. It’ll show as 2 lines that show the higher timeframe fvg with a filled box that mitigates on entry.
Order Blocks - These are supply and demand zones, displayed typically as the last down/up candle before a move in the opposite direction. Great POI’s for entry and take profits.
Outside candle - this is a candle that sweeps the highs and lows of the previous candle, best used for the 1 hour or above these can indicate a change of price direction.
Previous day high & low
Not only does it show your previous day's low and high but it also shows your opening and close of the day. You have settings where you can turn off the open and close and just have daily highs and lows. It’s your choice within your settings.
Market Structure - We have packed this feature with options that are customizable for you,
Break of Structure (BOS) indicates a trend continuation.
Change of Character (CHoCH) indicates the first sign of a possible trend change.
Equal Highs/lows - this will mark your double/triple tops and bottoms.
Retracement - set this to your preferred retracement amount to customize your market structure to what you qualify as a valid pullback.
Elliott Wave ZigZag
Many people ask for the Elliott Waves. Well, here it is, inside this SMC. Just like your pivot highs and lows, the Elliott Wave is showing in real-time so you can see where your previous highs and lows are with the Elliott Wave break of structures that you can use in conjunction with the Smart Money Concepts Indicator of ArtiumPro.
Fib levels - for Premium & Discount areas - in this Instance the fib is used to determine if the price has pulled back into a premium or discount zone for optimal trade entry.
Trading Sessions
One of the most advanced trading session indicators out there and it’s included inside the most advanced SMC indicator on the market today. It has open breakout and settings to filter the opening range along with your pip daily range. You can select what timezone you are in and it automatically adjusts on the chart. Cool right? Hope you enjoy it, happy trading!
Order Flow Imbalance Finder By TurkThis indicator is created to find the imbalances when a market exchange receives too many of one kind of order—buy, sell, limit—and not enough of the order's counterpoint and price shoots up or down and it left with unfilled orders. If you know how to trade the imbalances, this indicator can help you by find imbalances automatically.
Institutional FVG & Liquidity Range Candle (Expo)█ Institutional FVG with predicted SR levels & Liquidity Range Candle is an indicator that uses Smart Money Concepts to give you the insights needed to make informed decisions based on the theory in SMC. This premium toolkit work in any market and timeframe.
█ Institutional Fair Value Gap , also known as imbalance, inefficiencies, and Liquidity void, identifies the most significant FVG within the lookback period. This is often referred to as Institutional Fair Value Gap since only big players can cause these liquidity voids.
Fair Value Gap, Liquidity voids are sudden price changes without enough liquidity at a stable price, and the price jumps from the originating price level to the final price level, creating an imbalance in price.
The price tends to fill or retest the FVG area, and traders understand at which price level institutional players have been active. FVG is a valuable concept in trading, as they provide insights about where many orders were injected, creating this inefficiency in the market. The price tends to restore the balance.
This indicator highlights the most significant Fair Value Gap on the chart and plots predicted future support and resistance levels based on the price action created at the FVG. A super simple and yet effective way to get solid market levels that acts as a magnet for the price.
█ Liquidity Range Candle is another trading concept used by large market players where they manipulate the price to stay inside a specific market area, creating a tight consolidation zone. Once the price breaks the liquidity range, liquidity flows into the market. It's an easy way to grab liquidity from retail traders. Stop losses are triggers, breakout traders jump into the market, and institutional traders absorb the liquidity.
If you don't see the liquidity, you become the liquidity!
A break of a liquidity range is a sign of a breakout, potential continuation, retracement, or reversal. Use it together with an overall market analysis. It's common that traders also mark the previous 1-3 liquidity ranges and plot them into the future. These zones can act as a future magnet for the price, and we can get a retest of the zones, or if we break above/below a previous range can be a sign of a trend change. We also know that these liquidity ranges have been important levels for institutional players, who may be willing to accumulate or distribute more orders at these levels.
█ HOW TO USE
Use the indicator to identify several important and commonly used trading concepts taught within the SMC.
Find Significant FVG
Find Significant liquidity ranges
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Disclaimer
Copyright by Zeiierman.
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Imb finderThe indicator finds imbalance's zone
Support:
- Two dynamic color
- Hides fulfiled blocks
- Extends last active imabalance's zone
PT FVG ImbalancesVersion 1.0 of the PT FVG Gaps & Flat Opens was developed to visually identify any imbalances in price. This indicator can be used on all timeframes.
Fair Value Gaps are a key component when trading price action. They are derived from zones in liquidity where price moved quickly in a certain direction leaving gaps behind. These areas tend to act as magnets to price throughout the trading session of that timeframe.
PT FVG Features:
-Gaps that have been partially filled will shade darker to show price has already attempted to fill that gap before (Toggle Highlight Gap Fill).
-Gaps that have been partially filled will remove a portion of the background zone to indicate how much gap is left to fill in the full zone (Toggle Highlight Remaining Gap).
Flat Open Candles are derived from candles that open without a wick (wickless candles). Price more often than not tends to gravitate towards these areas in the near future to fill the wickless candle before continuing on with the trend. Can be used on all timeframes, but the higher the timeframe holds more weight.
PT Flat Open Features:
-Flat open sensitivity would recommend keeping it around 30-50. If scalping keep it sub 30. This feature determines how many flat opens you want on your chat at one time.
-Delete flat open line allows us to delete the line once price has filled the wickless candle.
Video with strategy will be uploaded shortly! It is included as part of the library. Just message us for access!
[VC] Effort & Result Index V1.0V.C. Effort & Result Index draws the Price change, Volume, Delta & Delta % as a histogram. On the positive side of the histogram, it marks the price change & on the negative side of the histogram, it marks volume, delta & delta %. And the best part of the indicator is that it allows you to see all the mentioned data types simultaneously.
See the below chart for a comprehensive understanding.
Before moving further, understand the below analogy first.
Volume & Delta = Fule or Effort
Price Movement = Result
Think of Volume & Delta as FULE or EFFORT and Price Movement as Result.
If the price travels a significant distance with less fule & effort, it indicates that no barriers or inverse forces are stopping the price movement.
On the other hand, if the price is travelling a less distance & consuming comparatively more fule & effort, it indicates some barriers or inverse forces stopping the price movement.
V.C. Effort & Result Index empowers you to read, compare & analyse Volume, Delta & Price effortlessly. It helps to measure the relative price change in different combinations. Such as, you can compare the price change with total volume, delta volume & delta percentage.
See the below relative comparison analysis by using Price Change, Volume Change & Delta Change.
In the above example, you can see that on candle A, there is a very significant price move with a small volume & delta. But on the next candle B, there is a minor price move compared to the previous candle A, but the volume is relatively high & delta is almost the same. In simple words, the same effort was applied to candle B but got fewer results than candle A. It indicates that buyers applied the same effort but failed to get the same results. It reveals that sellers are taking control, leading to a trend reversal.
This comparative analysis method & approach can add an extra edge to your analysis spacially on key levels & breakouts.
V.C Effort & Result Index Settings & Inputs
Price Change:
Allow you to show/hide the price change bars on the positive side of the histogram.
Volume:
Allow you to show/hide the total volume on the negative side of the histogram.
Delta%:
Allow you to show/hide the delta % on the negative side of the histogram.
Delta:
Allow you to show/hide the delta on the negative side of the histogram.
Style Settings
The Style section allows you to change the colors & the view format of all data types.
Disclaimer Note:
V.C Effort & Result Index is not a BUY/SELL signal based indicator or a holy grail trading system.
It is purely Volume, Delta, Demand & Supply imbalance and comparative analysis based tool kit. Before applying this indicator to your analysis, you should know about Volume, Delta & Spread, and Demand & Supply.
Some basic understanding of Sir Richerd Wyckoff's Theory can also be helpful.
Base Candle NewBase / Imbalance Candle
It automatically highlights the candle color to yellow (default) where there is imbalance between buyers and sellers or in other words, a base or fight between buyers and sellers. When you identify this base candle, you can mark the demand and supply zones easily.
[VC] Box Chart Index V1.0The ''V.C Box Chart Index'' shows the shortest possible wave. It graphically shows the continuous up movement or continuous down movement in the form of a box. As soon as the direction changes, the box changes as well.
It is an effortless way to show the price change that occurred in the box visually. It also correlates to what Wyckoff said about as the buying waves increase in volume, time, and length & the selling waves shorten, lookout for a change in the prevailing trend.
The example below shows more big green boxes than red, and the price change caused by the green box has made the uptrend.
Important Note:
V.C Box Chart Index also correlates to another indicator named V.C Box Chart Histogram
V.C Box Chart Histogram draws the cumulative delta based on each box as a histogram. Combining these two indicators empowers you to see the cumulative demand & supply and buying & selling quantity of each box.
See the Example Blow:
The above example shows that supply is decreasing on down boxes, indicating that fewer sellers are left to pull the market down.
On the other hand, demand increases on the up boxes, indicating that more buyers are coming into the market. As a result, every green box is breaking the previous high & price is moving upside.
For a more comprehensive understanding of the co-relation of these two indicators, read the description from the link below.
V.C Box Chart Index Settings & Properties Explained
Border of Box:
Allow you to show/hide the border of the box
Positive Box & Negative Box Borders:
Allow you to change the border color & opacity
Positive Box & Negative Box:
Allow you to change the color & opacity of the box
Disclaimer Note:
V.C Box Chart Index is not a BUY/SELL signal based indicator or a holy grail trading system.
It is purely Volume, Delta, Orderflow, Demand & Supply imbalance and comparative analysis based indicator tool kit. Before applying this indicator to your analysis, you should know about Volume, Delta & Spread, and Demand & Supply.
Some basic understanding of Sir Richerd Wyckoff's Theory can also be helpful.
Fractal Break Imbalance / Fair Value Gap (FVG) / Liquidity VoidFractal Break Imbalance / Fair Value Gap (FVG) / Liquidity Void
Order imbalances in either direction, either excess buy or sell orders, reduce liquidity. The market will seek to fill gaps sooner or later. The script marks an imbalance / FVG after a fractal break. It also marks any other imbalance.
Default Colours:
Green - Imbalance after fractal break to the upside
Red - Imbalance after fractal break to the downside
Yellow - Other imbalances
How To Use:
Gaps can be used to determine possible entries and targets. Those familiar with liquidity raids, supply and demand, and ICT concepts may realise it's potential.
Indicator in use:
Candle Colored by Volume Z-score [Morty]This indicator colors the candles according to the z-score of the trading volume. You can easily see the imbalance on the chart. You can use it at any timeframe.
In statistics, the standard score (Z-score) is the number of standard deviations by which the value of a raw score (i.e., an observed value or data point) is above or below the mean value of what is being observed or measured. Raw scores above the mean have positive standard scores, while those below the mean have negative standard scores.
This script uses trading volume as source of z-score by default.
Due to the lack of volume data for some index tickers, you can also choose candle body size as source of z-score.
features:
- custom source of z-score
- volume
- candle body size
- any of above two
- all of above two
- custom threshold of z-score
- custom color chemes
- custom chart type
- alerts
default color schemes:
- green -> excheme bullish imbalance
- blue -> large bullish imbalance
- red -> excheme bearish imbalance
- purple -> large bearish imbalance
- yellow -> low volume bars, indicates "balance", after which volatility usually increases and tends to continue the previous trend
Examples:
* Personally, I use dark theme and changed the candle colors to black/white for down/up.
Volume as Z-score source
Any as Z-score source, more imbalances are showed
Fair Value Gap█ OVERVIEW
This indicator displays the Fair Value Gap of the current timeframe and an additional higher timeframe. For each FVG the gaps act as targets creating bullish and bearish gaps that are often filled.
█ FEATURES
MTF Options
MidPoint FIll
Delete Old On Fill
Label FVG Timeframe
MTF Options
Enabling the MTF Options will allow the user to use the "MTF Timeframe" setting to choose what HTF Fair Value Gap to display
MidPoint FIll
A line plot at the Half way point will be included in the Fair Value Gap, this will be used to delete the gap when reached instead of a full fill.
Delete Old On Fill
Deletes historical Fair Value Gaps when filled.
Label FVG Timeframe
Labels Every Fair Value gap with there relevant timeframe to make it easier to determine which gap is being filled.
█ HOW TO USE IT
The indicator is quite straight forward in its application, providing users with targets that are often filled as they are seen as market imbalance.
Just applying it to your chart will provide the existing Fair Value Gaps. MTF Confluence is helpful in seeing what is happening on the macro perspective.
█ SUGGESTION
My suggestion for clarity is to use a different color to some degree between the MTF and Current TF as Opposed to text, keeps the chart clear.
█ LIMITATIONS OF PINE (Please read)
I see many users going on different indicators with MTF in mind and trying to use it for LTF data e.g. 1hour chart, and selecting 5min in chart settings.
This is not recommended by the team themselves and should be noted for use always use HTF: www.tradingview.com
To understand how to use fair value gaps I recommend learning about the subject some more, searching online will provide you resources. The internet is your friend when learning. All the best.
SPARTAN SMC TOOL 1.0SPARTAN SMC TOOL 1.0
1. Order Block
2.Double Zig Zag
3. Imbalance
//--------------------- details about smc tool -----------------------//
Order Block:
I) The Order Blocks are NOT DETECTED in REAL TIME!
- A Bullish Order Block is the last red candle BEFORE a subsequent series of green candle
- A Bearish Order Block is the last green candle BEFORE a subsequent series of red candles
The required length of the series is defined by the parameter "Relevant Periods to identify OB" (by default it is set to 5).
This means that the earliest an Order Block can be identified with these settings is 5 candles AFTER it has occurred!
As a result of this....
II) The identified Order Blocks (and therefore also the Alerts) are not BUY or SELL signals!
As I have mentioned in the description before, these identified Order Blocks rather show "Areas of Interest" on the chart where there is an increased probability that the price will revisit these levels at one point in the future (but no guarantee of course!).
III) ....and YES, it REPAINTS....by definition!
A "repainting" indicator is changing signals in the past. As according to the defined logic an Order Block can only be identified AFTER future conditions are met, it will of course "repaint" the signal into the chart only after at least the relevant period has elapsed - the same applies to the Alerts. If you intend to complain about this "repainting", then I am sorry to say that you did not understand what this is used for and I advise you not to use this indicator. I would then advise you to first read a bit about Institutional Order Flow.
IV) This is not the "Perfect Indicator".....
When you look at the historical performance on the chart, it looks like that the Indicator ALWAYS called a perfect entry! But due to the definition of the logic and due to the delay/repainting, this is misleading if you do not understand how it is supposed to work. So please make sure that you REALLY understand it before you use it - I tried to be very clear in my explanations.
Double Zig Zag:
Here Double Zig Zag with HHLL script is with you. it calculates 2 Zig Zag simultaneously and draws them, and also it calculates and puts Higher High, Lower Low, Higher Low, Lower High labels. All these are done dynamically, it means last HH/HL/LL/LH can change. if price continues to go up then HL can turn to LL or if price continues to go down then LH can turn to HH. This script can be used for different purposes such trend analysis, support/resistance levels, breakouts etc.
I tried to make many things optional:
You can set Periods for Zig Zags as you wish
You can set different colors for both Zig Zag Up/Down lines
You have option to show both Zig Zag , one of them or none them
You have option to show both HHLL, one of them or none them
You can set Zig Zag 1 line style as Dashed or Dotted
You can set Line Widths for Zig Zags
Imbalance and Fair Value Gaps
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...
ICT Fair Value Gap [LM]Hello traders,
I would like to present you ICT Fair Value Gap script. The idea is the same as in my other script to look form imbalances. I have improved the previous script from teaching of ICT and created this script to train the eye to see those gaps. Shrinking option also shows if the gap has been already filled and also in case gap is filled you can get alert in case you will set it up .
The script has two settings:
general settings - definition of volatility condition for middle candle
box settings - setting for boxes, box colors, shrinking
I hope you enjoy it,
Lukas
