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Date/Time: Mon, 22 Apr 2024 23:09:16 +0000



[User Discussion] - Fair Value Gap indicator

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[2023-10-26 15:11:26]
maxm1987 - Posts: 104
and while we are at it maybe you could have a look at the second screenshot as well.

I concerns the order of the studies .. first, the FVG were hidden under the VP, so in the drawings settings I set "Draw highlight drawings underneath main graph and studies" to "No" .. so now the FVG are on top of the VP however the fvg are on top of the candles as well .. is there a way to display the VP in the background, on top of that come the fvgs and then the candles?
imagefvg2.PNG / V - Attached On 2023-10-26 15:06:44 UTC - Size: 120.16 KB - 482 views
[2023-11-28 01:39:40]
User483786 - Posts: 2
Hey gcUserStudies, thank you for this. I have been finding FVG indicator for awhile now on sierra. Very thankful for this.
Could I kindly make a request if it is not too much trouble, could you code in an option;

FVG only gets removed if candle closes above or below it, meaning if it were to wick up or down but does not close beyond the high/low of the FVG box that FVG remains.
But the moment a candle closes beyond the high/low of the box, the FVG is removed.

Also is there a way to add the price label on the top and bottom of the FVG?

Thank you once again.

All the best trading!!
[2023-12-25 19:54:40]
User644077 - Posts: 5
gcUserStudies Hi, Thank you very much for the awesome indicator. Is there any setting that will close a FVG only when the candle crosses it and closes beyond it? FOr now a wick also qualifies for FVG to close.
[2024-01-05 02:43:15]
User864381 - Posts: 1
I DIDNT KNOW HOW TO ADD IN MY STUDY, CAN I HAVE SOME HELP ?
Date Time Of Last Edit: 2024-01-05 02:44:04
[2024-01-10 13:58:25]
User823328 - Posts: 14
Hey team of fvg indicator,
gcUserStudies thanks a lot for your fantastic work on this indicator.
Do you know if it's possible to get an alert when fvg IS forming and if yes how to do that please ?
Date Time Of Last Edit: 2024-01-10 13:59:03
[2024-02-10 12:30:19]
mark barnard - Posts: 2
Morning.

are Sierra charts looking at creating this FVG (Fair value gap) indicator? there has been plenty information supplied to progress this from what i can see.
[2024-03-15 16:35:58]
User676363 - Posts: 62
Morning.

are Sierra charts looking at creating this FVG (Fair value gap) indicator? there has been plenty information supplied to progress this from what i can see.


The study mentioned above works great. https://gcuserstudies.github.io/

No need for Sierra to do anything here unless they want to add it to their own indicators and give credit.

The code is provided on GitHub so you can also modify it to fit your own studies: https://github.com/gcUserStudies/sierrachart

SierraChart already has a Wide Range Bar study that will show you the same thing (basically).

And also, FVG is really an ICT term, isn't it? Most of his ideas are from other educators. Not sure I have found anything that makes him or the FVG unique.

You will find that Andrews taught the same thing in his Action Reaction course in the 1960s and 1970s.
If you draw his median lines (expansion) on any expansion in price, you will see the lines zooming his levels.

Furthermore, the pitchfork gives you the premium/discount/equilibrium that ICT teaches because the median line shows equilibrium after price has passed to two extremes. It also shows you the measured moves from those two extremes so that you have a way measure how far price can go further and how much risk you wish to take on your trade.

It's even the same as his Trader's Trinity method that he was teaching back in 2011/2012 where he shows you the trinity of price levels (overbought, fair value, oversold) that you apply across a trinity of time (monthly, daily, weekly) based on Alexandre Elder's Trading for a Living book that ICT talked about in his YouTube Scout Sniper series.

Furthermore, if you use warning lines (which SierraChart allows as many as you wish), it gives you all of his expansion levels and you can watch your FVGs appear on all of those as price zooms the levels.

If you draw the pitchfork at the base of one of ICT's MMxM (pockets in price aka mountains and valleys) and add your warning lines, you will be able to watch price zoom those lines and often stop right on one of them at 3 or 5 measured moves away.

ICT calls measured moves, standard deviations, and he uses a fib tool to measure them, but they are the same thing and standard deviations really isn't the right name to use, since it is more useful in Options trading when describing the probability of price moves.

ICT talks about watching time, but Andrews did as well, even telling his students to watch when highs and lows form on the days of the week and to collect statistics about those for the instrument they are trading.

And I think Schabacker covered all the other stuff in the 1930's (types of gaps, accumulation/manipulation/distribution, etc. See pg 572 and 861 in his Stock Market Theory and Practice book. I know he covers multiple time frame analysis in his other book Stock Market Profits quite early in the book.)

And honestly, the parallel lines/rays tool on SierraChart allows you to make a very nice price grading. You can draw it also on the base of any pocket. That is the basis for a fork. It is a measured move and based on Action/Reaction lines that were used by Babson back in the days of Gann's work.

If you like ICT's concepts, you can take either tool and put in -100, -200, -300 etc and then 200, 300, etc. Then draw your line along the base of a mountain or valley pocket in price (MMxM). You will then be able to follow the measured moves in price as it moves through each.

What you will notice is that they follow the rules set out by Babson and Andrews. Which is the same thing that ICT teaches with his FVG and IFVG. When price passes through a line, if it creates a gap/zoom, it will often come back to touch it. You then can get a good entry for the continuation.

So, I don't know that having a FVG indicator is very useful because it's been there all along with the fork tool in SierraChart.

Hope that helps you sort it out with the FVGs.

I've attached a chart showing you what the Sierra Chart Wide Range Bar studies accomplishes and also comparing it with the GCUserStudies tool and overlaying a parallel rays tool that shows you where to expect those FVGs to form using technology from the 1890s and 1960s.

Cool isn't it?
imageCleanShot 2024-03-15 at 12.32.37.png / V - Attached On 2024-03-15 16:32:56 UTC - Size: 435.4 KB - 77 views

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