IFVG + OTE Indicator: Free TradingView Indicator (Pine Script)

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

IFVG + OTE Indicator identifies bullish and bearish IFVGs from swing points and marks OTE levels at 0.62, 0.705 and 0.79 Fib extensions. The script detects confluence between IFVGs and OTE zones and draws boxes and lines for both. Main settings control visibility, colors, transparency, swing length, mitigation rules and whether to show confluence. It provides alerts for new IFVGs, OTE entries and confluences. The tool draws exclusively on the price chart and supports up to ten IFVGs with optional extension and deletion on mitigation.

Inverse Fair Value Gaps
Optimal Trade Entry zones
IFVG OTE Confluence
Bullish Bearish Alerts
Swing Length Settings

Details

Published by

tshepang31 on GitHub

Type

Indicator, Pine Script v6

Draws

On the price chart

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

IFVG_OTE_Indicator.pine

Repository

github.com/tshepang31/tradingview-ifvg-ote-indicator

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Show IFVG	`bool`	`true`	`showIFVG`
Bullish IFVG Color	`color`	`color.new(color.blue, 80)`	`bullishIFVGColor`
Bearish IFVG Color	`color`	`color.new(color.red, 80)`	`bearishIFVGColor`
IFVG Transparency	`int`	`80`	`ifvgTransparency`
Maximum IFVGs	`int`	`10`	`maxIFVGs`
Extend IFVG	`bool`	`true`	`extendIFVG`
IFVG Mitigation Method	`string`	`Wick`	`mitigationMethod`
Delete Mitigated IFVGs	`bool`	`true`	`deleteIFVGOnMitigation`
Show OTE	`bool`	`true`	`showOTE`
Swing Length	`int`	`5`	`swingLength`
Bullish OTE Color	`color`	`color.new(color.green, 80)`	`bullishOTEColor`
Bearish OTE Color	`color`	`color.new(color.orange, 80)`	`bearishOTEColor`

Show all 24 settings

Setting	Type	Default	Variable
OTE Transparency	`int`	`80`	`oteTransparency`
Show 0.62 Level	`bool`	`true`	`show062`
Show 0.705 Level	`bool`	`true`	`show0705`
Show 0.79 Level	`bool`	`true`	`show079`
Show IFVG + OTE Confluence	`bool`	`true`	`showConfluence`
Confluence Tolerance %	`float`	`0.5`	`confluenceTolerance`
Alert: New Bullish IFVG	`bool`	`true`	`alertNewBullishIFVG`
Alert: New Bearish IFVG	`bool`	`true`	`alertNewBearishIFVG`
Alert: Bullish OTE Entry	`bool`	`true`	`alertBullishOTEEntry`
Alert: Bearish OTE Entry	`bool`	`true`	`alertBearishOTEEntry`
Alert: Bullish Confluence	`bool`	`true`	`alertBullishConfluence`
Alert: Bearish Confluence	`bool`	`true`	`alertBearishConfluence`

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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