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.
Balancedpricerange
ICT Balanced Price Range [TradingFinder] BPR | FVG + IFVG🔵 Introduction
The ICT Balanced Price Range (BPR) indicator is a valuable tool that helps traders identify key areas on price charts where a balance between buyers and sellers is established. These zones can serve as critical points for potential price reversals or continuations.
🟣 Bullish Balanced Price Range
A Bullish BPR forms when a buying pressure zone (Bullish FVG) overlaps with a Bullish Inversion FVG. This overlap indicates a high probability of price moving upwards, making it a crucial area for traders to consider.
🟣 Bearish Balanced Price Range
Similarly, a Bearish BPR is created when a selling pressure zone (Bearish FVG) overlaps with a Bearish Inversion FVG. This zone is often seen as a key area where the price is likely to move downward.
🔵 How to Use
🟣 Identifying the Balanced Price Range (BPR)
To identify the Balanced Price Range (BPR), you must first locate two Fair Value Gaps (FVGs) on the price chart. One FVG should be on the sell side, and the other on the buy side. When these two FVGs horizontally oppose each other, the area where they overlap is recognized as the Balanced Price Range (BPR).
This BPR zone is highly sensitive to price movements due to the combination of two FVGs, often leading to strong market reactions. As the price approaches this area, the likelihood of a significant market move increases, making it a prime target for professional traders.
🟣 Bullish Balanced Price Range (Bullish BPR)
To effectively trade using a Bullish BPR, begin by identifying a bullish market structure and searching for bullish Price Delivery Arrays (PD Arrays). Once the market structure shifts to bullish in a lower time frame, locate a Bullish FVG within the Discount Zone that overlaps with a Bearish FVG.
Mark this overlapping zone and wait for the price to test it before executing a buy trade. Alternatively, you can set a Buy Limit order with a stop loss below the recent swing low and target profits based on higher time frame liquidity draws.
🟣 Bearish Balanced Price Range (Bearish BPR)
For bearish trades, start by identifying a bearish market structure and look for bearish PD Arrays. After the market structure shifts to bearish in a lower time frame, identify a Bearish FVG within the Discount Zone that overlaps with a Bullish FVG. Mark this overlapping zone and execute a sell trade when the price tests it.
You can also use a Sell Limit order with a stop loss above the recent swing high and target profits according to higher time frame liquidity draws.
🔵 Settings
🟣 Global Settings
Show All Inversion FVG & IFVG : If disabled, only the most recent FVG & IFVG will be displayed.
FVG & IFVG Validity Period (Bar) : Determines the maximum duration (in number of candles) that the FVG and IFVG remain valid.
Switching Colors Theme Mode : Includes three modes: "Off", "Light", and "Dark". "Light" mode adjusts colors for light mode use, "Dark" mode adjusts colors for dark mode use, and "Off" disables color adjustments.
🟣 Display Settings
Show Bullish BPR : Toggles the display of demand-related boxes.
Show Bearish BPR : Toggles the display of supply-related boxes.
Mitigation Level BPR : Options include "Proximal", "Distal", or "50 % OB" modes, which you can choose based on your needs. The "50 % OB" line is the midpoint between distal and proximal.
Show Bullish IFVG : Toggles the display of demand-related boxes.
Show Bearish IFV G: Toggles the display of supply-related boxes.
Mitigation Level FVG and IFVG : Options include "Proximal", "Distal", or "50 % OB" modes, which you can choose based on your needs. The "50 % OB" line is the midpoint between distal and proximal.
🟣 Logic Settings
FVG Filter : This refines the number of identified FVG areas based on a specified algorithm to focus on higher quality signals and reduce noise.
Types of FVG filters :
Very Aggressive Filter : Adds a condition where, for an upward FVG, the last candle's highest price must exceed the middle candle's highest price, and for a downward FVG, the last candle's lowest price must be lower than the middle candle's lowest price. This minimally filters out FVGs.
Aggressive Filter : Builds on the Very Aggressive mode by ensuring the middle candle is not too small, filtering out more FVGs.
Defensive Filter : Adds criteria regarding the size and structure of the middle candle, requiring it to have a substantial body and specific polarity conditions, filtering out a significant number of FVGs.
Very Defensive Filte r: Further refines filtering by ensuring the first and third candles are not small-bodied doji candles, retaining only the highest quality signals.
🟣 Alert Settings
Alert Inversion FVG Mitigation : Enables alerts for Inversion FVG mitigation.
Message Frequency : Determines the frequency of alerts. Options include 'All' (every function call), 'Once Per Bar' (first call within the bar), and 'Once Per Bar Close' (final script execution of the real-time bar). Default is 'Once per Bar'.
Show Alert Time by Time Zone : Configures the time zone for alert messages. Default is 'UTC'.
Display More Info : Provides additional details in alert messages, including price range, date, hour, and minute. Set to 'Off' to exclude this information.
🔵 Conclusion
The ICT Balanced Price Range is a powerful and reliable tool for identifying key points on price charts. This strategy can be applied across various time frames and serves as a complementary tool alongside other indicators and technical analysis methods.
The most crucial aspect of utilizing this strategy effectively is correctly identifying FVGs and their overlapping areas, which comes with practice and experience.
Order Block Overlapping Drawing [TradingFinder]🔵 Introduction
Technical analysis is a fundamental tool in financial markets, helping traders identify key areas on price charts to make informed trading decisions. The ICT (Inner Circle Trader) style, developed by Michael Huddleston, is one of the most advanced methods in this field.
It enables traders to precisely identify and exploit critical zones such as Order Blocks, Breaker Blocks, Fair Value Gaps (FVGs), and Inversion Fair Value Gaps (IFVGs).
To streamline and simplify the use of these key areas, a library has been developed in Pine Script, the scripting language for the TradingView platform. This library allows you to automatically detect overlapping zones between Order Blocks and other similar areas, and visually display them on your chart.
This tool is particularly useful for creating indicators like Balanced Price Range (BPR) and ICT Unicorn Model.
🔵 How to Use
This section explains how to use the Pine Script library. This library assists you in easily identifying and analyzing overlapping areas between Order Blocks and other zones, such as Breaker Blocks and Fair Value Gaps.
To add "Order Block Overlapping Drawing", you must first add the following code to your script.
import TFlab/OrderBlockOverlappingDrawing/1
🟣 Inputs
The library includes the "OBOverlappingDrawing" function, which you can use to detect and display overlapping zones. This function identifies and draws overlapping zones based on the Order Block type, trigger conditions, previous and current prices, and other relevant parameters.
🟣 Parameters
OBOverlappingDrawing(OBType , TriggerConditionOrigin, distalPrice_Pre, proximalPrice_Pre , distalPrice_Curr, proximalPrice_Curr, Index_Curr , OBValidGlobal, OBValidDis, MitigationLvL, ShowAll, Show, ColorZone) =>
OBType (string)
TriggerConditionOrigin (bool)
distalPrice_Pre (float)
proximalPrice_Pre (float)
distalPrice_Curr (float)
proximalPrice_Curr (float)
Index_Curr (int)
OBValidGlobal (bool)
OBValidDis (int)
MitigationLvL (string)
ShowAll (bool)
Show (bool)
ColorZone (color)
In this example, various parameters are defined to detect overlapping zones and draw them on the chart. Based on these settings, the overlapping areas will be automatically drawn on the chart.
OBType : All order blocks are summarized into two types: "Supply" and "Demand." You should input your Current order block type in this parameter. Enter "Demand" for drawing demand zones and "Supply" for drawing supply zones.
TriggerConditionOrigin : Input the condition under which you want the Current order block to be drawn in this parameter.
distalPrice_Pre : Generally, if each zone is formed by two lines, the farthest line from the price is termed Pervious "Distal." This input receives the price of the "Distal" line.
proximalPrice_Pre : Generally, if each zone is formed by two lines, the nearest line to the price is termed Previous "Proximal" line.
distalPrice_Curr : Generally, if each zone is formed by two lines, the farthest line from the price is termed Current "Distal." This input receives the price of the "Distal" line.
proximalPrice_Curr : Generally, if each zone is formed by two lines, the nearest line to the price is termed Current "Proximal" line.
Index_Curr : This input receives the value of the "bar_index" at the beginning of the order block. You should store the "bar_index" value at the occurrence of the condition for the Current order block to be drawn and input it here.
OBValidGlobal : This parameter is a boolean in which you can enter the condition that you want to execute to stop drawing the block order. If you do not have a special condition, you should set it to True.
OBValidDis : Order blocks continue to be drawn until a new order block is drawn or the order block is "Mitigate." You can specify how many candles after their initiation order blocks should continue. If you want no limitation, enter the number 4998.
MitigationLvL : This parameter is a string. Its inputs are one of "Proximal", "Distal" or "50 % OB" modes, which you can enter according to your needs. The "50 % OB" line is the middle line between distal and proximal.
ShowAll : This is a boolean parameter, if it is "true" the entire order of blocks will be displayed, and if it is "false" only the last block order will be displayed.
Show : You may need to manage whether to display or hide order blocks. When this input is "On", order blocks are displayed, and when it's "Off", order blocks are not displayed.
ColorZone : You can input your preferred color for drawing order blocks.
🟣 Output
Mitigation Alerts : This library allows you to leverage Mitigation Alerts to detect specific conditions that could lead to trend reversals. These alerts help you react promptly in your trades, ensuring better management of market shifts.
🔵 Conclusion
The Pine Script library provided is a powerful tool for technical analysis, especially in the ICT style. It enables you to detect overlapping zones between Order Blocks and other significant areas like Breaker Blocks and Fair Value Gaps, improving your trading strategies. By utilizing this tool, you can perform more precise analysis and manage risks effectively in your trades.
Double FVG-BPR [QuantVue]The Double FVG BPR Indicator is a versatile tool that helps traders identify potential support and resistance levels through the concept of balanced price ranges.
A Balanced Price Range (BPR) is a zone on a price chart where the market has found equilibrium after a period of price imbalance.
It is identified by detecting a Fair Value Gap (FVG) in one direction, followed by an overlapping Fair Value Gap in the opposite direction.
Components of a Balanced Price Range
Fair Value Gap (FVG): A FVG occurs when there is a rapid price movement, creating a gap in the price chart where minimal trading occurs. This gap represents an imbalance between supply and demand.
Bullish FVG: A bullish FVG is identified when the low of a candle is higher than the high of a candle two periods ago, and the close of the previous candle is higher than the high of that same period.
Bearish FVG: A bearish FVG is identified when the high of a candle is lower than the low of a candle two periods ago, and the close of the previous candle is lower than the low of that same period.
Overlapping Fair Value Gap: For a BPR to be formed, an initial FVG must be followed by an overlapping FVG in the opposite direction. This creates a balanced zone where the price has moved up (or down) quickly and then moved down (or up) with similar intensity, suggesting a temporary equilibrium.
The area between the high and low points of these overlapping FVGs forms the BPR. This zone represents a temporary market equilibrium where supply and demand have balanced out after a period of significant price movement in both directions.
How to Use
Support and Resistance Levels: The upper and lower boundaries of the BPR act as dynamic support and resistance levels. Traders can use these levels to place buy and sell orders, anticipating that the price may find support or face resistance within these zones.
Trend Reversal and Continuation: The BPR can signal potential trend reversals or continuations.
If the price moves back into the BPR after a breakout, it may indicate a reversal. Conversely, if the price breaks out of the BPR with strong momentum, it may signal a trend continuation.
Balanced Price Range (BPR)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.
