FVG Indicator

FVG Indicator

This indicator identifies and highlights market inefficiencies, known as Fair Value Gaps (FVG), on price charts. Using a custom algorithm, the indicator detects these areas of imbalance where the price moves sharply, creating potential trading opportunities.

Indicator Parameters:

• Bullish FVG Color (clrBlue): Color used to highlight bullish inefficiencies. The default value is blue.
• Bearish FVG Color (clrRed): Color used to highlight bearish inefficiencies. The default value is red.
• Bullish FVG Opacity (125): Defines the opacity of the bullish inefficiency color. The range is from 0 (completely transparent) to 255 (completely opaque).
• Bearish FVG Opacity (125): Controls the opacity of the bearish inefficiency color. It is adjusted within the same opacity range.
• Number Of Candles For Calculation (100): Sets the number of candles the indicator will analyze to calculate market inefficiencies.
• Minimum FVG Size In Ticks (2): Determines the minimum size in ticks that an inefficiency must have to be considered and highlighted on the chart.

This indicator is a powerful tool for traders looking to identify areas where the price might correct or continue its movement after a period of market imbalance.