Imbalance: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
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

27 lines of Pine Script v5 from src/indicators/custom/imbalance.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

imbalance.pine

// © teshmi9z

//@version=5
indicator("Imbalance", overlay=true,max_boxes_count=500)

transparency = input.int(0, "FVG", minval=0, maxval=100, step=10)
// règle d'origine : le corps de la bougie du milieu doit couvrir tout le trou (rate les gaps
// d'ouverture et les bougies du milieu de l'autre couleur)
strict = input.bool(false, "Seulement si le corps de la bougie du milieu couvre tout le trou (règle d'origine)")
yellow_with_alpha = color.new(color.yellow, transparency)

// Calcul du déséquilibre vers le haut
topImbalance = not strict or (low[2] <= open[1] and high[0] >= close[1])
topImbalanceSize = low[2] - high[0]

// Calcul du déséquilibre vers le bas
bottomImbalance = not strict or (high[2] >= open[1] and low[0] <= close[1])
bottomImbalanceSize = low[0] - high[2]

// Dessin des bougies jaunes pour les déséquilibres
if topImbalance and topImbalanceSize > 0
    box.new(bar_index[2], low[2], bar_index[2]+1,high[0], border_color=yellow_with_alpha, border_width=0, bgcolor=yellow_with_alpha)
    //line.new(bar_index[2], low[2], bar_index[2], high[0], width=30,color=yellow_with_alpha)

if bottomImbalance and bottomImbalanceSize > 0
    box.new(bar_index[0], low[0], bar_index[0]+1, high[2], border_color=yellow_with_alpha, border_width=0, bgcolor=yellow_with_alpha)
    //line.new(bar_index[0], low[0], bar_index[0], high[2], width=30, color=yellow_with_alpha)

Overview

Imbalance looks at three-bar sequences and draws a box where the low of one bar and the high of the bar two candles later do not overlap, in either direction. A strict option requires the body of the middle candle to cover the whole gap, which is the original rule and misses some opening gaps. A transparency setting controls the box shade.

Three-bar gap detection in both directions
Optional strict middle-candle body rule
Adjustable box transparency

Details

Published by

teshmi9z-beep on GitHub

Code credit

teshmi9z, as written in the script's header

Type

Indicator, Pine Script v5

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

src/indicators/custom/imbalance.pine

Repository

github.com/teshmi9z-beep/TS_Terminal. See its other scripts in the library

Settings

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

Setting	Type	Default	Variable
FVG	`int`	`0`	`transparency`
Seulement si le corps de la bougie du milieu couvre tout le trou (règle d'origine)	`bool`	`false`	`strict`

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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