OPEN-SOURCE SCRIPT

Balanced Price Range (BPR)

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This script finds BPR's, which some simply refer to as a "double Fair Value Gap" (FVG). In a BPR, there is an overlapping vertical area between a recent bullish and bearish FVG. You may tune the parameters to filter out smaller FVG's or BPR's, as well as how far back the indicator must look to find a matching pair.

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Two updates:

1. You can edit the color used to draw the BPR boxes
2. New "Only Clean BPR" setting that, when checked, doesn't show BPR's when price interferes with the range prior to its creation. Leaving it off will show all BPR's regardless of how price traded in between the bearish and bullish FVG's

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Updating the chart image

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Fixed minor issue with the last update regarding "Only Clean BPR" setting

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Updated the threshold values such that:

1. The default value is 0 for both, that way all BPR's will show (to avoid confusion for new users)
2. Valid FVG's and BPR's will be considered if their range is greater than *or equal to* the threshold value, instead of greater than

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Two updates:

1. You can now add alerts that will tell you when a new BPR is created
2. New "Delete Old BPR" setting that, when enabled, will delete all old BPR's that have been invalidated or overwritten

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Edited alert function so that users can edit the message sent when a new BPR is created

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Fixed an issue where BPR's were being created and alerted before the following candle had a chance to invalidate the range (needed to delay bear/bull signals by one bar)

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Removed the FVG threshold to avoid confusion. All FVGs will now be considered for a potential BPR

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Updating thumbnail image

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Updated script titles