This indicator was created to display and alert the user for the first Fair Value Gap (FVG) of up to three trading sessions.
Bullish FVG occurs when the high of the first candle is lower than the low of the third candle, resulting in a price gap between them. Conversely, a Bearish FVG takes place when the low of the first candle is higher than the high of the third candle, leading to a gap between these prices.
ICT emphasizes on three crucial timeframes: 3-4 am NY, 10-11 am NY, and 2-3 pm NY, collectively referred to as the 'silver bullet' times. The very first FVG formed during these periods can significantly impact the remainder of that trading session.
Building upon these concepts, CasperSMC developed a strategy involving buying/selling the very first FVG and placing a stop order just above/below the candle responsible for creating the FVG. The strategy aims for a consistent 2-to-1 Reward-to-Risk ratio (2RR).
This indicator serves to support the strategy by not only displaying those fvgs but also sending alerts, reducing the need for constant screen monitoring.
Note di rilascio
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- option to draw the "RR-Tool" - automated calculation for lot sizes (only for demo-use) - check for yourself if the lot-size-values display the correct value
@w4rz0ne99, One of the main confluences is already built in and that would be the time it forms which is between 10-11am. Other things you can look for would be did price already take out asia high or low. If the high of asia is taken out during new york session then generally when the 10-11fvg forms it will continue down so if the FVG bearish you'd wanna short. if the low of asia is taken out look for long if the FVG is indicating buys during the 10-11 window . Another confluence would be relieve equal lows or highs that are still open in past time action another confluence is simply buy side and sell side liquidity which has been taken out look for the next to be taken out all this is Basic ICT concepts this tool is an ICT concept so study more ICT stuff. Core content ICT playlist is a good place to start on yt. Back test/Forward test, Collect data, study ict.
w4rz0ne99
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@NeverWishing, thanks soooo sooooo much. you went in with the response. appreciate. will be studying core content
malinoisman
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just fired this up on todays chart 30 min and it is ballers 1
CottonTop
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Could you make it so we can change color of RR box
Bloushi
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Please add the 50 percent of the fvg
NeverWishing
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Pure lavaaaa!!! Thanks Josh you're the man!
rjoseleiva
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Amazing update! For those who doesnt know how to take the fvg yet (short or long) :)… do you use another confluence to avoid some SLs??? Thanks!!
EnigmaX_Algo
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Any way to open source it? Id love to add the stop loss and to automatically and automate this.
The strategy focuses on the first fvg created on the 5 MINUTE timeframe