Version 1.0 of the PT FVG Gaps & Flat Opens was developed to visually identify any imbalances in price. This indicator can be used on all timeframes.
Fair Value Gaps are a key component when trading price action. They are derived from zones in liquidity where price moved quickly in a certain direction leaving gaps behind. These areas tend to act as magnets to price throughout the trading session of that timeframe.
PT FVG Features: -Gaps that have been partially filled will shade darker to show price has already attempted to fill that gap before (Toggle Highlight Gap Fill). -Gaps that have been partially filled will remove a portion of the background zone to indicate how much gap is left to fill in the full zone (Toggle Highlight Remaining Gap).
Flat Open Candles are derived from candles that open without a wick (wickless candles). Price more often than not tends to gravitate towards these areas in the near future to fill the wickless candle before continuing on with the trend. Can be used on all timeframes, but the higher the timeframe holds more weight.
PT Flat Open Features: -Flat open sensitivity would recommend keeping it around 30-50. If scalping keep it sub 30. This feature determines how many flat opens you want on your chat at one time. -Delete flat open line allows us to delete the line once price has filled the wickless candle.
Video with strategy will be uploaded shortly! It is included as part of the library. Just message us for access!
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V 2.0 -Added activation toggle for Flat Open
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V 2.1 -Aesthetic Update
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V 3.0 -Added feature to eliminate nonrelevant FVGs -Added logic to filter FVGs based off size of imbalance -Added alerts when FVGs is formed