An indicator that draws unmitigated bullish and bearish fair value gaps, with a dashboard stating whether to trade long, trade short, wait or stay flat.
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
Gaps pass filters for size, impulse versus ATR, candle body and volume, plus an EMA trend filter and a premium or discount zone. It highlights stacked gaps, shows breaker blocks, a 50 percent midpoint line and entry, stop and target lines using a chosen reward-to-risk ratio. Mitigation mode and box colors are adjustable. It draws on the price chart.
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
Show Bullish FVGs
bool
true
show_bull
Show Bearish FVGs
bool
true
show_bear
Max Active FVGs Per Side
int
12
max_fvg
EMA Trend Filter
bool
true
use_ema
EMA Length
int
200
ema_len
Premium/Discount Zone Filter
bool
true
use_pd
Zone Lookback (bars)
int
50
pd_lookback
Show all 35 settings
Setting
Type
Default
Variable
Stacked FVG Detection
bool
true
use_stacked
Stacked Within (bars)
int
5
stacked_bars
Draw Entry, SL and TP Lines
bool
true
show_levels
Entry Level
string
EQ (50%)
entry_at
R:R Ratio
float
2.5
rr_ratio
SL Buffer (%)
float
0.08
sl_buf_pct
Show 50% EQ Dashed Line
bool
true
show_eq
Mitigation Mode
string
50% Fill
mitig_mode
Keep Mitigated Boxes (grey)
bool
false
show_mitig
Show Breaker Blocks
bool
true
show_break
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
Bearish Border
color
color.new(#FF4560, 20)
bear_bord
Stacked Gold Fill
color
color.new(#FFD700, 55)
stk_col
Breaker Block Purple
color
color.new(#9B59B6, 65)
brk_col
Extend Boxes Right
bool
true
extend_r
Extend (bars)
int
80
ext_bars
Alert: New FVG (score 3+ stars)
bool
true
alrt_new
Alert: Price Entering FVG Zone
bool
true
alrt_zone
Alert: FVG Mitigated
bool
true
alrt_mitig
Alert: Stacked FVG Detected
bool
true
alrt_stack
Alert: TRADE Signal (4-5 stars)
bool
true
alrt_trade
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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