LuxAlgo

Imbalance Detector [LuxAlgo]

LuxAlgo Wizard 已更新   
This indicator detects and highlights market imbalances alongside a dashboard returning information about their frequency of occurrence and their fill percentage. Imbalances included in this script are Fair Value Gaps (FVG), Opening Gaps (OG) and Volume Imbalances (VI).

Alerts are available for the occurrences of all market imbalances.

Settings

Imbalances

Each imbalance has the same settings layout:

  • Imbalance: Enable/disable the detection of the specific imbalance.
  • Min Width: If enabled, requires the imbalance area width to be greater than the specified value. This minimum width can be expressed in points, percentages or ATR multiples.
  • Extend: Extend imbalances by a specified number of bars.

Dashboard

  • Show Dashboard: Enable/disable the dashboard on the chart.
  • Dashboard Location: Location of the dashboard on the chart.
  • Dashboard Size: Size of the dashboard.

Usage


Market imbalances are part of the many concepts available to price action traders and highlight areas where there is a disparity between supply and demand.

It is common to see price come back to these areas and traders often use them as supports and resistances but also as targets.

Details

The script can detect three distinct types of imbalances described below.

Fair Value Gaps


Fair Value Gaps (FVG) are three candle formations characterized by a gap between the wicks of the non-adjacent candles in the formation.

A bullish FVG is characterized by a gap between the current price low and the 2 bars anterior price high, and a bearish FVG is characterized by a gap between the current price high and the 2 bars anterior price low.

Opening Gaps


Opening Gaps (OG) are imbalances characterized by non-existent activity within a specific price range.

A bullish OG occurs when the current price low is greater than the previous high, a bearish OG occurs when price high is lower than the previous price low.

Opening Gaps primarily occur in closing markets, as such they are less common in the cryptocurrency market.

Most of the time an Opening Gap will also be accompanied by a Fair Value Gap, in order to avoid clutter the indicator will not detect Fair Value Gaps if Opening Gaps are enabled and if an Opening Gap has been detected

Volume Imbalances


Volume Imbalances (VI) are characterized by a price discontinuity between the opening price and previous close, but unlike Opening Gaps we do not see nonexistent activity within a certain price range.

A bullish VI occur when both the opening and closing prices are superior to the previous closing price, with the current price low overlapping the previous price high. A bearish VI occur when both the opening and closing prices are inferior to the previous closing price, with the current price high overlapping the previous price low.

Because Volume Imbalances can occur excessively on markets with frequent gaps, we make use of an additional condition for filtering out less significant imbalances. Bullish VI's will require the previous price high to be lower than the opening price, while bullish VI's will require the previous price low to be higher than the opening price.
版本注释:
Dashboard set to off by default.

Get Access to LuxAlgo indicators: luxalgo.com

Join our 100k+ community: discord.gg/lux

All scripts & content provided by LuxAlgo are for informational & educational purposes only. Past performance does not guarantee future results.
开源脚本

本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。

免责声明

这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。

想在图表上使用此脚本?