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.
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Added Balanced Price Range to the script Added Fair Value Gaps to the script Box Border can now be modified Box length is extended till mitigated Mitigated Boxes can be hidden or differentiated with a unique color Box Labels can now be hidden other bug fixes
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- Added option to extend unmitigated Volume Imbalance Boxes - Added option to disable extending unmitigated boxes
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Added Option to extend all VI boxes (Mitigated/Unmitigated)
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- Volume Imbalance Mitigation Color Issue Fixed
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- Added option to change label color of Mitigated Box labels. Set it to 0% opacity to hide the text.
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- GAPs are now marked between bodies of the candles instead of wicks - Added alert option for FVGs, VIs and GAPs
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1. Added Implied Fair Value Gap (I.FVG) [Toggle on/off] - Beta Version 2. Added New Mitigation Type - Engulf, Wherein body close is required for a gap/imbalance to be considered as mitigated. Default is set to "Engulf". Change it to "Mitigate" for the older model. 3. Default Mitigation type for GAP is set to Consequent Encroachment (50% of the Range) 4. Added alerts for I.FVG
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When price is inside a Box (FVG/VI/GAP/BPR/I.FVG), that particular box will be in spotlight compared to other boxes. It will be a treat to watch :)
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- Added Mid line (C.E.) for FVG Boxes. Toggle on/off enabled. - Added alerts when price mitigates FVG,GAP, VI and Implied FVG Boxes (Works only when the mitigation type is set to engulf).
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- Minor Bug Fix
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- Minor bug fix
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bug fix
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Change in logic for plotting Volume Imbalances (VIs)
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Added new mitigation type for FVG Boxes called "Rebalance" wherein if a FVG is partially rebalanced, only the remaining unfilled range is extended in time. When it is fully rebalanced (Candle low trading below bullish FVG or Candle high trading above bearish FVG), it stops extending further in time. Box highlight feature (animation) and alerts will work for this mitigation type.
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Bug Fix
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Version 2.0
Added Inverse FVG (FVG Mitigation must be set to ‘ENGULF’ for Inverse FVG to work)
Added alerts for Inverse FVG formation and Mitigation
Inverse FVG Box Limit option enabled
Added Box Highlight feature (Animation) when price is inside Inverse FVG Box
Added line types for FVG and Inverse FVG Consequent Encroachment (C.E.)
Option for modifying the Label position for the Boxes enabled.
Minor Bug Fix
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- Minor Bug Fix
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- Minor Bug Fix
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Version 2.1 Consecutive FVGs in the same direction can now be mapped as Liquidity Void using the new FVG mode "Liquidity Void".
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Version 2.2 - Included Volume Imbalance types (None/Classic/Advanced) for user selection. 'Classic' shows a specific type of Volume Imbalance, while 'Advanced' displays all variations.
can u please explain what GAP-/+, VI-/+, FVGs mean.....
Blu_Ju
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Love this indicator. Draws the FVG and VIB almost exactly the way I do. Takes a lot of manual work out of my hands. I noticed one thing: if the indicator identifies a price gap, and that gap is filled by the next candle with just the wick (leaving a VIB), the indicator marks it as mitigated and does not re-identify that as an unmitigated VIB. Not a big deal, as this occurrence is exceptionally rare, but I did see it today.
ukmpits
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@Blu_Ju, Sir, Is there any other indicator to combine with this one? Thanks mate
Vulnerable_human_x
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@ukmpits, No, I would not recommend combining this indicator with others.
I found a small bug on implied FVGs
In order for the animation to work (and possibly the alert