OPEN-SOURCE SCRIPT
Updated Leading FVG Indicator
This is a FVG (Fair Value Gap) Indicator
The indicator sends a Engine Call (E) - that suggests a BUY or SELL based on the H1 Bullish or Bearish bias. Once Engine call is got wait for the price to fall or rise to the next FVG and buy or sell at that FVG based on the bias. Dont buy when FVG box is red in a Bull bias or Blue in a Bear bias. Take profit based on your risk appetite. It doesnot give any exit signals.
The indicator sends a Engine Call (E) - that suggests a BUY or SELL based on the H1 Bullish or Bearish bias. Once Engine call is got wait for the price to fall or rise to the next FVG and buy or sell at that FVG based on the bias. Dont buy when FVG box is red in a Bull bias or Blue in a Bear bias. Take profit based on your risk appetite. It doesnot give any exit signals.
Release Notes
Some changes to coloursRelease Notes
Leading FVG (Fair Value Gap), Order Block(OB) and Breaker Block (BB) IndicatorThis gives an Engine Call E, post which you can take a BUY (if its Bull Bias) when the 1 min candle hits the FVG/OB or BB. Gives pretty decent results. You can either wait for weak high (for Longs) or weak low (for Shorts) to exit or exit based on your risk appetite. Use in conjunction with LuxAlgo's - Smart Money Concepts to indentify potential exit points.
Keep Chart Timeframe at 1 min.
FVG, OB and BB are calculated for 15 min internally
Engine Calls (E) is internally set to 5 min.
Release Notes
Updated to display Bullish or Bearish Bias based on 30 min 50/20 EMA.Release Notes
Further Updates.- Made Bullish and Bearish bias always appear on the right top corner.
- Bearish Engine Calls on a BULL bias will still appear. Left to user to evaluate risks of going short on a BULL bias.
- Not that engine calls are triggers to prepare you for a trade. It doesnt mean you need to take a position as soon as a 'E' symbol appears. Trade should be taken only when the 1 minute close is within the FVG/BB/OB blocks. Make sure you take a trade only when the color of the blocks match the color of the bias (Green or Red)
Release Notes
Updated this to show Weak High, Weak Low, Strong Low, Strong High.- With these the indicator acts as a self contained unit which gives you entries on the FVG blocks and suggests exits on Weak High, Weak Low.
- Stop outs can be put at Strong High and Strong Low.
Release Notes
- Added alert facility for Engine calls and Trade Entry.Release Notes
- Added Take Profit alerts at Weak High and Weak Low for BULLISH and BEARISH signals respectively.Release Notes
- A number of bug Fixes.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.