OPEN-SOURCE SCRIPT
Simple ICT Order Blocks and Fair Value Gaps by Gowtham Kannakaje
Updated
This scripts identifies ICT Order Block and ICT Fair Value Gaps
Fair Value Gap:
- Fair Value Gap toggle is off by default
- Users can choose to color the bars having Fair Value Gaps or can select to define the Fair Value Gap using boxes.
- Bar color and box colors can be customized
Order Blocks:
- Order Block box and candle color toggle is on by default
- Users can choose to color the Order Block candles or can select to define the Order Blocks using boxes.
- Bar color and box colors can be customized for bullish and bearish Order Block separately
Note:
- Order Blocks are considered valid only if the candle forming the Fair Value Gap closes away from the Order Block.
- Since Trading View limits the number of boxes to 500, it is advised to use the Color Candle option to identify the Order Blocks or Fair Value Gaps which are very old.
New concept Definitions:
Naked OB : An order block whose immediate next candle forms a Fair Value Gap. Here, the Order Block high or low contributes to the formation of Fair Value Gap.
Covered OB : An order block whose immediate next candle doesn't form a Fair Value Gap. Here, the Order Block high or low doesn't contribute to the formation of Fair Value Gap. Instead it will have other candles in between the Order Block and Fair Value Gap.
Disclaimer: The usage of this indicator might or might not contribute to your profits and losses and the author is not responsible for the same.
Happy Trading.
Fair Value Gap:
- Fair Value Gap toggle is off by default
- Users can choose to color the bars having Fair Value Gaps or can select to define the Fair Value Gap using boxes.
- Bar color and box colors can be customized
Order Blocks:
- Order Block box and candle color toggle is on by default
- Users can choose to color the Order Block candles or can select to define the Order Blocks using boxes.
- Bar color and box colors can be customized for bullish and bearish Order Block separately
Note:
- Order Blocks are considered valid only if the candle forming the Fair Value Gap closes away from the Order Block.
- Since Trading View limits the number of boxes to 500, it is advised to use the Color Candle option to identify the Order Blocks or Fair Value Gaps which are very old.
New concept Definitions:
Naked OB : An order block whose immediate next candle forms a Fair Value Gap. Here, the Order Block high or low contributes to the formation of Fair Value Gap.
Covered OB : An order block whose immediate next candle doesn't form a Fair Value Gap. Here, the Order Block high or low doesn't contribute to the formation of Fair Value Gap. Instead it will have other candles in between the Order Block and Fair Value Gap.
Disclaimer: The usage of this indicator might or might not contribute to your profits and losses and the author is not responsible for the same.
Happy Trading.
Release Notes
All the features in the previous script retained. Newly added:
Alerts : Now users can set alerts on the order blocks.
Release Notes
All the features in the previous release is retained.Newly added feature:
Users can set the color of the text in the OB boxes. This enables the users to remove the text by setting the transparency to zero. Thus, reduces distraction by addressing clumsy charts when zoomed out.
Release Notes
All the features in the previous script retained.Newly added:
Alerts : Now users can set alerts on the Fair Value Gaps.
Release Notes
Glad to come up with the fully fledged version of this indicator. Hope this serves the purpose and addresses major concerns. Concepts of the previous script is retained same.
Major changes:
1. Order Block and Fair Value Gap boxes are extended to the right for better visualization.
2. OB and FVG mitigation type can be selected using candle close or candle wick.
3. Users can choose to display mitigated OB and FVG boxes separately using toggle.
4. Introduced different color schemes for OB and FVVG to avoid confusion.
Release Notes
Added a toggle box to retain the simplicity of the indicator by removing the extended boxes.Release Notes
This revision includes only rearrangement of input optionsRelease Notes
This is a major update to the indicator.- Introduced Multiple timeframe plotting
- Now users can plot 3 timeframe FVGs together in the chart
- Current timeframe is default and the display can be kept simple or extended bars
- Also users can add 2 other timeframe FVG plotting
for ex. on a 5 min chart, now we can plot 1H and 4H FVGs as well.
- The selection of HTF is user defined and the box and color can be customized as well.
- If users want to delete the mitigated FVG boxes, they have to use the option nested under
FVG section
Based on the feedback received on this indicator, similar update on Order Blocks will be done.
Release Notes
Rolling Back previous changes for a short time Release Notes
This is a major update to the indicator.- Introduced Multiple timeframe plotting
- Now users can plot 3 timeframe FVGs together in the chart
- Current timeframe is default and the display can be kept simple or extended bars
- Also users can add 2 other timeframe FVG plotting
for ex. on a 5 min chart, now we can plot 1H and 4H FVGs as well.
- The selection of HTF is user defined and the box and color can be customized as well.
- If users want to delete the mitigated FVG boxes, they have to use the option nested under
FVG section
Based on the feedback received on this indicator, similar update on Order Blocks will be done.
Release Notes
Here the HTF option is disabled by default considering the issues with free users getting an error of too many candle references. This can be enabled manually. But, for free users Trading view doesn't allow the complete power of the indicator. There will be a workaround by referencing lesser candles in future. 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 publication is governed by House rules. You can favorite it to use it on a chart.
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.