An indicator that draws bullish and bearish fair value gap boxes and shows a dashboard saying whether conditions are aligned for a long, a short, or to wait.
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
A signal requires a minimum number of confirmations from gap size, impulse, volume, 200 EMA trend, premium or discount zone, RSI, MACD, optional stochastic, and break of structure. Stacked gaps are highlighted, and the maximum number of active gaps is adjustable. It draws on the price chart and is meant for manual decisions.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Min Gap Size (%)
float
0.06
min_gap_pct
Min Impulse (x ATR-14)
float
1.2
impulse_atr
Min Body/Range Ratio
float
0.55
body_ratio_min
Volume Confirmation
bool
true
use_volume
Volume Multiplier
float
1.2
vol_mult
Min Stars to Signal
int
4
min_score
Show Bullish FVGs
bool
true
show_bull
Show Bearish FVGs
bool
true
show_bear
Max Active FVGs
int
10
max_fvg
EMA Trend Filter
bool
true
use_ema
EMA Length
int
200
ema_len
Premium / Discount Zone
bool
true
use_pd
Show all 40 settings
Setting
Type
Default
Variable
Zone Lookback (bars)
int
50
pd_lookback
Stacked FVG Highlight
bool
true
use_stacked
Stacked Within (bars)
int
5
stacked_bars
RSI Filter
bool
true
use_rsi
RSI Length
int
14
rsi_len
Overbought Level
int
70
rsi_ob
Oversold Level
int
30
rsi_os
RSI Above/Below 50
bool
true
rsi_mid
MACD Alignment
bool
true
use_macd
MACD Fast
int
12
macd_fast
MACD Slow
int
26
macd_slow
MACD Signal
int
9
macd_sig
Stochastic Timing
bool
false
use_stoch
Stoch Length
int
14
stoch_len
Stoch Overbought
int
80
stoch_ob
Stoch Oversold
int
20
stoch_os
Market Structure (BOS/CHoCH)
bool
true
use_bos
BOS Lookback (bars)
int
10
bos_len
Liquidity Sweep Filter
bool
true
use_liq
Sweep Lookback (bars)
int
20
liq_len
Entry Level
string
EQ (50%)
entry_at
R:R Ratio
float
2.5
rr_ratio
SL Buffer (%)
float
0.08
sl_buf_pct
Show EQ Dashed Line
bool
true
show_eq
Show Entry / SL / TP Lines
bool
true
show_lvls
Bullish FVG Fill
color
color.new(#00C896, 80)
bull_bg
Bearish FVG Fill
color
color.new(#FF4560, 80)
bear_bg
Bullish Border
color
color.new(#00C896, 20)
bull_bord
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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