This script looks at three consecutive candles and if there is an area between the wicks of the first and third candle, it will paint a box to mark the area.
The marked area is considered an imbalance or inefficiency in the market. Price usually finds its way back to that area of imbalance to clear it.
As price clears part of the area of imbalance, the box turns from a solid border to a dashed border.
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Updated code to Pinescript version 5 Added color selection for candles and imbalance boxes Added the ability to limit boxes shown on the screen
Working on pro version that will include alerts, multi timeframes, imbalance grouping, pip counts, and more!
How we decide which imbalance area gets filled first. Which time frame is recommended
Looking_ForeX
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Source code please?
Pedrhomero
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Great indicator,as far the best one and i tried them all,just one question,sometimes not only remarks the imbalance,but also sometimes areas where there are no wicks near by but price touch that area and reverses, why is that and how do the indicator draws it
OVERLORD101
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Can you publish the source code please 😊
Cryptoflyke
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A good one, thanks. Request: Pls give the option to adjust the line thickness and coloring, as well as background fill as the source code is closed.