Students of ICT concepts will know that the first FVG found within particular session periods can identify an important price level for intraday traders.
"Find the first FVG at the start of the session and drag a box from it to the right"....ICT
The script finds the first FVG (either bull or bear) within the following periods:
London Killzone (0200 - 0500) EST 02:00 - 0259 03:00 - 0359 0400 - 0459
Dead Zone (05-00 - 0600) EST 05-00 - 0559 0600 - 0659
NY AM Killzone (0700 - 1100) EST 0700 - 0759 0830 - 0929 0929 - 0959 1000 - 1100 (Silver Bullet)
A chart higher timeframe can be chosen to detect the FVGs and they will be displayed on lower timeframe. Default is 5min for detection. I like to then following price reacting to 5mi FVGs on a 1 min chart. FVG boxes can be extended to the end of the session, or to any time within the current days trading hours. Colors/Labels/ Session Periods can all be edited. A maximum timeframe for display is available and timezone can be adjusted.
FVGs are only shown for the current days trading hours.
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Added NY PM Silver Bullet 1400 -1500
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Script re-write to enable the script to work in 'Replay Mode' and shows FVGs from previous days so it can be used for backtesting. Also added 3 options so users can add extra custom sessions. Users can choose to extend FVGs to a custom time in the future or simply to extend FVGs by a custom offset value.
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Fixed bug with FVG detection carrying onto next session if none found. Added session start labels Added option for chart timeframe to be used
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Fixed MTF FVG error. 5min FVGs now plot correctly on lower timefrmes
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Chart update
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Added option to display all FVGs within the session period rather than just the first one
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Fixed bug with 'all FVGs in session' displaying on higher timeframes than chosen in options.
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Fixed error in 0600 Dead Zone label
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Fixed Extra label issue
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Fixed issue with HTF FVGs duplicating on LTFs. Added option to display custom FVG detection timeframe in FVG boxes.
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Attempt to fix issue when displaying 5min FVGs on 1min TF. Published so user who identified the issue can check.
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Options added to allow each session the choice of 'All FVGs within session' or 'First FVG in session'.
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Fixed delay in FVG box creation Added color options for 'first only' boxes
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Small change to fvg box start position to make appearance cleaner
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repaint fix
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Added timezone option America/New York as default.
@malk1903 Any chance you could add an alert for when a FVG prints?
jes_bad
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Thanks @malk1903 for creating a great indicator! I too would love to be able to set alerts for this during the SB session(s).
Bloushi
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The time based Fvg indicator is awesome but kindly add the alerts
PaperChains
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this is simply amazing - just checked some backtesting on it, cant wait to do some more......amazing.... is it this easy? bless.
malk1903
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@PaperChains, hope you can make some use of it. good luck!
RiadFx-
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The problem with this Indicator is that sometimes it disappears the zones of FVG and it might caused you losses.
malk1903
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@RiadFx-, hi there, do you mean the FVGs are removed when the price goes through them? if so, this is because the script would show every FVG created in history and would completely cover price. every indicator will do this in order to keep the screen clean. i do have an idea to allow the FVGs to be filled, then wait for a period before the FVGs are removed as i do actually draw rectangles over the FVGs im interested in so they remain on screen.
deestewartuk
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it probably sounds silly, but this indicator has really helped me stay disciplined and consistent. I just pair this with one other indicator for a cleaner chart with less noise. Simply brilliant. Thank you so much and all the very best - Dee
malk1903
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@deestewartuk, thats good, nice to know you can make use of it, thanks a lot for saying. good luck!
vadsarianavroz
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Great indicator. Is there a possibility to create a similar indicator called Silver Bullet by FX reply?