This indicator marks market structure shifts when price closes beyond the prior lookback high or low, then labels a buy or sell with an ATR-based stop and a take-profit distance set by the TP multiplier.
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
Optional boxes highlight bullish and bearish fair value gaps on the price chart. A top-right table shows the current trend, the latest signal, and the target price. Alerts fire once per bar close. A time filter can restrict signals to the New York morning session. It does not place or manage trades.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Show Fair Value Gaps
bool
true
show_fvg
Structure Lookback
int
20
lookback
TP Multiplier (Risk:Reward)
float
2.0
atr_mult
Only Trade NY Session (07:30-12:00)
bool
false
use_timer
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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