The "FiftyFVGs by Sirius" is a Pine Script™ indicator designed to identify and visualize Fair Value Gaps (FVGs) on different timeframes. These gaps represent areas in price action where imbalances occur, providing insights for potential support and resistance levels. The script integrates customizable parameters for flexibility in adjusting appearance, behavior, and timeframe-specific configurations.
Key Features: Multi-Timeframe FVG Analysis
The indicator supports analysis on multiple timeframes (e.g., 1-minute, 5-minute, up to 4-hour). It calculates FVGs for each timeframe and displays them on the chart using configurable colors and transparency. FVG Visualization
Bullish FVGs: Gaps formed when the low of a future candle is above the high of a previous one. Bearish FVGs: Gaps formed when the high of a future candle is below the low of a previous one. The gaps are displayed as rectangles on the chart with optional labels, border colors, and 50% midpoint lines. Customizable Parameters
Colors: Separate settings for bullish and bearish FVGs. Transparency: Adjustable for the body, border, and center line. Labels: Configurable text, size, alignment, and visibility. Border Styles: Width and type of the border around FVGs. Center Line Display
A 50% midpoint line is drawn for each FVG, helping traders identify key levels within the gap. The thickness of the center line can be adjusted. Filtering and Deletion
FVGs below a certain size threshold can be filtered out. Completed FVGs (those fully covered by subsequent price action) are automatically removed from the chart. Scalability
The indicator can plot up to 500 lines, labels, and boxes, ensuring performance on high-density charts. Timeframe Conversion
The script converts timeframe inputs into user-friendly labels (e.g., "M15" for 15-minute charts). It ensures accurate alignment of FVGs to the defined time intervals. Parameter Categories: Timeframe Settings
Users can define the timeframes to analyze. Each timeframe has its own group of parameters for tailored configurations. FVG Appearance
Colors for bullish and bearish gaps. Border and fill transparency. Midpoint Line
Visibility, color, thickness, and style of the 50% midpoint line. Label Options
Custom text for FVG labels. Alignment, size, and visibility. Common Settings
Maximum extension of FVG boxes. Multiplier for thickness adjustments across timeframes.
Use Cases: Intraday Trading: Identifying short-term imbalances on lower timeframes like 1-minute or 5-minute charts. Swing Trading: Highlighting support/resistance levels on higher timeframes such as 4-hour or daily charts. Confirmation Tool: Aligning FVG levels with other technical indicators or price action strategies. This indicator is an advanced yet user-friendly tool for traders who want to identify and act upon price imbalances across multiple timeframes. Its comprehensive customization options allow adaptation to any trading style.