LuxAlgo

HTF Fair Value Gap [LuxAlgo]

The HTF Fair Value Gap indicator aims to display the exact time/price locations of fair value gaps within a higher user-selected chart timeframe.

🔶 USAGE


The indicator can be used to detect higher time frame fair value gaps. Detected historical HTF FVG are displayed as changes in chart background colors, with a green color indicating a bullish FVG and red a bearish FVG.


The most recent HTF FVG is displayed as a candle to the right of the most recent price candle. Dashed lines indicate the exact location of the FVG upper and lower extremities.


The wicks of the FVG candle indicate the price deviation from the FVG extremities after its formation and can help determine where the FVG is located within a trend.

A "Status" dashboard is included to indicate if the FVG is mitigated or not. This is also indicated by the border of the FVG candle, with a solid border indicating an unmitigated FVG.

🔶 SETTINGS

  • Timeframe: Chart timeframe used to retrieve the fair value gaps

🔹Style

  • Offset: Offset to the right (in bars) of the FVG candle from the most recent bar.
  • Width: Width (in bars) of the FVG candle.

🔹Dashboard

  • Show Dashboard: Determine whether to display the dashboard or not.
  • Location: Location of the dashboard on the chart.
  • Size: Size of the dashboard on the chart.

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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