FVG + Breaker Block v8.6

27 พ.ย.

This indicator helps you identify FVGs, inverse FVGs (which are marked with a dashed line in the middle of the FVG) and potential Breaker Blocks on every time frame. You can spot 4 different types of BBs: highly potential bullish and bearish BBs are colored blue and red, and the less potential bullish and bearish BBs are colored magenta and orange, but you can change the colors to your desire.
Due to internal constraints of TradingView there is a limit on how many boxes you can plot on your screen so it is advisable not to increase the "Max Bars Back to keep FVG (candles)" above 100 or TV will not be able to plot many BB´s due to its internal limits. Increasing the number above 100 will limit the quantity of BBs boxes to be plot on TradingView.

4 ธ.ค.

เอกสารเผยแพร่

This update of the FVG + Breaker Block indicator addresses minor issues that have been corrected to avoid identifying possible Breaker Blocks (BBs) that do not match or overlap the corresponding FVG that confirms the BB. Now all BBs do match / overlap an existing FVG. The initial candle on the 3-candle sequence of the FVG that overlaps with the BB is marked with a red or green label (when there is a FVG + BB+) or a magenta/orange label (when there is a FVG + BB-). It is important to note that the parameter n is the number of lookback candles that the indicator is going to evaluate for a liquidity sweep, counting from the last of the FVG 3-candle sequence, so consider that the "n" parameter cannot be less than 5 (candles). The optimal lookback range is often located between n = 8 to 10, so it is important to try different values to find or filter only those BBs that are more relevant to your analysis.
This indicator is not a trading strategy on itself, so it is highly advisable to develop your own rules to place trades using the indicator, and we do not provide any recommendation on how to use the FVG + Breaker Block indicator, nonetheless it is often used as follows:
1. Direct entry: Once a BB is identified you can place an order following the direction of the BB (bullish or bearish), using the BB direction as a directional bias. Place your Order as soon as the FVG+BB is flagged and place your stop loss just below the corresponding high/low of the FVG+BB range. The TP is often stablished no further away than a 1:1 risk/reward.
2. Wait for a retest: Wait for price to retest the range of the FVG+BB area and then enter your order once price moves away from the range. TP is often the same as in the Direct entry. This strategy is often regarded as more reliable you may miss more opportunities waiting for a retest.
3. Reverse rule: If price breaks the lower/upper side of the FVG+BB area on the opposite side of the directional bias it is often used as a signal to enter an order in the opposite direction of the BB directional bias.

5 วันที่ผ่านมา

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The new version will appear as v9.4 on your Trading View screen. This version allows to identify potential BBs that happen when the initial candle of a three-candle sequence of an FVG (BTW a price GAP can also be considered a valid FVG) is also the highest/lowest candle that grabs liquidity from a previous swing low/high. So according to the rules of a BB (by Chris FX professional trader - find him on YouTube or at his Discord channel) the liquidity grab can be achieved by the initial candle of the FVG, and provided that the closest "contrary" candle to the FVG (for example a red candle prior to a bullish FVG) matches / overlaps the FVG.
Another change on this version is that now the color of the BB box matches the color of the label that identifies the FVG corresponding to the BB, and the user can change the colors to his desire.
Because of some TradingView´s pine script limitations the position of the label above/below the FVG can vary depending on the "compression" of the graph, which is handled by TradingView but cannot be handled by Pine Script language, so now you can modify the "Offset Ticks" to move the label some ticks above/below the FVG to have a better view of the BB set-up.
There is another limitation on the quantity of objects that TradingView / Pine Script is capable of plotting at the same time, so it will randomly delete the objects that exceed its internal limitations. To be able to spot more past BBs on your screen you should lower the quantity of "back bars to identify FVGs" to less than 50, or even disable the "display strong/weak/inverse FVGs" so that you can review more past BBs on your screen.
This version can be loaded on TradingView´s Strategy Tester, so you can also move the Replay initial time to any point in the past and mark the BBs that happen on the Strategy Tester (manually place a box that stretches all the way to the present day) so that when you go back to the real-time view you can have the historic BBs on your screen already marked for future reference.