This overlay indicator finds pivot highs and lows on the price chart and compares the last two highs and the last two lows. When the percentage difference between a pair is below the Equal HL threshold, it treats them as equal levels and draws a box. Left and
Indicator · Pine Script v5 · On the chart
Fair Value Gap Finder - Close Condition Mode
This indicator detects and visualizes bullish and bearish fair value gaps directly on the price chart using colored boxes.
GitHub stars15on the repository
Pine versionv5runs as is
Lines of code136
Settings15inputs
LicenceNone stated
Last update1 year ago4 Nov 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Fair Value Gap Finder - Close Condition Mode identifies three-bar price imbalances and offers optional filters for volume surges relative to a moving average, buy versus sell volume distribution, and EMA trend direction. Gap thresholds can be set manually or dynamically calculated using ATR. Users can configure projection lengths, choose to display only the most recent gap, and automatically remove filled gaps.
- Fair value gap detection with ATR-based dynamic size filter
- Optional volume surge and directional volume delta filters
- Trend direction filtering with configurable EMA
- Automatic removal of filled gaps and single-gap display mode
Details
Published by
sonnyparlin on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
SMC / ICT / price action, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use Volume to determine FVGs (Recommended) | bool | false | useVolume |
| Volume must be X times average | int | 2 | vr |
| Volume moving average length | int | 20 | vl |
| EMA Length | int | 20 | emaLength |
| Gap length | int | 60 | ol |
| Automatically adjust minimum gap size based on ATR | bool | true | useAutoMinGapSize |
| Minimum Gap Size to show (ignored if Automatically adjust gap is selected) | float | 0.25 | minGapSize |
| Only show latest gap | bool | false | onlyShowLast |
| Delete Filled Gaps | bool | true | deleteFilledGaps |
| sellFVGColor | color | color.new(color.red, 70) | sellFVGColor |
| buyFVGColor | color | color.new(color.green, 70) | buyFVGColor |
| buyFVGText | string | Buyers Fair Value Gap | buyFVGText |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| sellFVGText | string | Sellers Fair Value Gap | sellFVGText |
| textColor | color | color.new(color.gray, 10) | textColor |
| Label Size | string | Small | sizeOption |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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