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FVG Indicator

FREE

Published: 11 August 2024

Current version: 1.0

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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.

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