This indicator was created to display and alert the user for the first Fair Value Gap (FVG) of up to three trading sessions.
Bullish FVG occurs when the high of the first candle is lower than the low of the third candle, resulting in a price gap between them. Conversely, a Bearish FVG takes place when the low of the first candle is higher than the high of the third candle, leading to a gap between these prices.
ICT emphasizes on three crucial timeframes: 3-4 am NY, 10-11 am NY, and 2-3 pm NY, collectively referred to as the 'silver bullet' times. The very first FVG formed during these periods can significantly impact the remainder of that trading session.
Building upon these concepts, CasperSMC developed a strategy involving buying/selling the very first FVG and placing a stop order just above/below the candle responsible for creating the FVG. The strategy aims for a consistent 2-to-1 Reward-to-Risk ratio (2RR).
This indicator serves to support the strategy by not only displaying those fvgs but also sending alerts, reducing the need for constant screen monitoring.
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- option to draw the "RR-Tool" - automated calculation for lot sizes (only for demo-use) - check for yourself if the lot-size-values display the correct value
@w4rz0ne99, One of the main confluences is already built in and that would be the time it forms which is between 10-11am. Other things you can look for would be did price already take out asia high or low. If the high of asia is taken out during new york session then generally when the 10-11fvg forms it will continue down so if the FVG bearish you'd wanna short. if the low of asia is taken out look for long if the FVG is indicating buys during the 10-11 window . Another confluence would be relieve equal lows or highs that are still open in past time action another confluence is simply buy side and sell side liquidity which has been taken out look for the next to be taken out all this is Basic ICT concepts this tool is an ICT concept so study more ICT stuff. Core content ICT playlist is a good place to start on yt. Back test/Forward test, Collect data, study ict.
w4rz0ne99
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@NeverWishing, thanks soooo sooooo much. you went in with the response. appreciate. will be studying core content
malinoisman
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just fired this up on todays chart 30 min and it is ballers 1
CottonTop
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Could you make it so we can change color of RR box
kingfireandsafety
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I was messing around on the charts and notice the FVG changes a bit pending timeframe up or down and gets smaller or bigger. I was wondering if you could put a option to toggle on or off the FVG for the time frames of 1min, 2min, 3min, and 4min. I noticed there are a few great setups that are missed because you only look at it from one time-frame so when it seems like for instance it's dropping down or climbing up to the 5min FVG it may not reach the FVG with the wick before charging the other way but if you drop to the 1min chart the Wicks stretch a bit farther and hit the FVG before taking off the other direction just like the indicator was made to show. Thanks for the indicator either way it's very helpful with the 2022 ICT mentorship setup.
kingfireandsafety
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@kingfireandsafety Example : May 10, 2024 MESM2024 (June contract) If you look at London sessions FVG that's created on the 1min,2min,3min,4min timeframes and you extend the FVG to the end of the NY am session. You will notice once all the Gaps are together on the 1 min chart you can use the 4 timeframes congruently to confirm the setup is backed up by as many timeframes as you want but 3 out of 4 seems very dependable. The reason you extend to the end of the NY am killzone is because this indicator with all those timeframes together can sometimes show you multiple setups you can use throughout that entire trading time period pending what the market wants to do obviously. I haven't tried it past 2 killzones but it could possibly work longer pending where the market goes. I call it "King's Corner" because when that wick or wick and body touch that FVG in 3 of 4 time frames together it turns a corner on the next wick as if ordered by a King and moves quickly the direction your wanting lol. 😜
The strategy focuses on the first fvg created on the 5 MINUTE timeframe