Balanced Price Range | Flux Charts

💎 GENERAL OVERVIEW
Introducing our new Balanced Price Range (BPR) indicator! A Balanced Price Range is a trading concept used by price action traders. It is detected by finding overlapping area between two contrary Fair Value Gaps (FVGs). These areas can be used as entry points during market pullbacks. For more information about the process, please check the "HOW DOES IT WORK ?" section.



Balanced Price Range Features :

• Balanced Price Range Detection: Identifies areas where bullish and bearish FVGs overlap, suggesting a zone of price equilibrium.
  
• Customizable FVG & BPR Detection: You can fine-tune FVG detection and sensitivity for BPR detection to your liking.
  
• Retest Labels: Bullish & Bearish retest labels will be rendered for BPRs.
  
• Alerts: You can set alerts for Bullish & Bearish BPR detection and their retests.
  

🚩UNIQUENESS
This indicator doesn't just detect standard FVGs but specifically looks for areas where bullish and bearish IFVGs (Invalidated Fair Value Gaps) overlap, defining a Balanced Price Range. It also actively manages and updates identified BPR zones, removing them when they are invalidated or remain untouched for a specified period. It highlights and alerts users to retests of established BPR zones, signaling potential trading opportunities. Users can tailor the appearance of the BPR zones and retest markers, as well as configure specific alerts for new BPR formations and retests.



📌HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. The indicator first detects bullish & bearish FVG zones according to their formations on chart. Then, they are dynamically tracked and flagged as invalidated if the price crosses them, turning them into IFVGs. When a FVG & IFVG of the same type overlaps, the indicator combines them into a single BPR of corresponding type. The detected BPR is updated as new data comes in, and renders retests labels as they occur. A bullish BPR can be used to find long trade entry opportunities, while a bearish BPR can be used to find short trade entry opportunities. Retests can also indicate potential movements in the corresponding direction of the BPR. Users can set-up alerts for BPR detection & BPR retests and will get notified as they occur.



⚙️SETTINGS

Show Historic Zones: If enabled, invalidated or expired BPR zones will remain visible on the chart.
Balanced Price Range:

FVG Detection Method: Determines the criteria for the bar types forming the initial FVG.

• Same: All three bars forming the FVG must be of the same type (all bullish or all bearish).
  
• Mixed: The bar types must vary (a mix of bullish and bearish bars).
  
• All: Bar types can vary or be the same.
  

FVG Invalidation Method: Determines which part of the candle (wick or close) invalidates the initial FVG.
BPR Invalidation Method: Determines which part of the candle (wick or close) invalidates the Balanced Price Range.
Sensitivity: Adjusts the sensitivity of FVG detection. Higher values may identify fewer, larger BPRs, while lower values may detect more, smaller BPRs.
Labels: Toggles the display of text labels on the identified zones.
Retests: Enables or disables the detection and visualization of BPR retests.