ICT HTF FVGs v2 (fadi)

12 sept

NOTICE: Instead of updating the existing ICT HTF FVGs indicator, this indicator is being published separately due to the requests to keep the original by some traders and because of the drastic change in behavior/configurations. If the original v1 version is more appropriate for your style of trading, feel free to continue to use it.

ICT HTF FVGs v2

In trading, Fair Value Gaps (FVGs) refer to market inefficiencies or imbalances that occur when buying and selling activities are not equal. These gaps can be identified on various timeframes and are used in different trading strategies.

FVGs are crucial in price action trading as they highlight the difference between the current market price of an asset and its fair value. Traders use these gaps to identify potential trading opportunities, as they often indicate areas where the market may correct itself

This indicator will overlap the higher timeframe (HTF) FVGS over the current timeframe to help traders anticipate and plan their trades.

Features

1. Up to 6 higher timeframes (HTF) can be overlayed on a chart
   
2. Traders can limit the number of HTF FVGs to preset number of HTFs
   
3. Lower and current timeframes can be included
   
4. Configurable spacing of HTF FVGs to prevent overlapping
   
5. Configurable Smart Expansion of FVGs based on proximity to current price
   
6. Traders can decide what constitutes a Mitigated FVG
   
7. Show or hide mitigated FVGs to declutter the chart
   
8. Flexible display settings that controls how the FVGs are displayed
   
9. Flexible labeling of the FVG levels and content
   

Higher Timeframes Display Settings



This indicator provides the ability to select up to 6 HTF intervals. These intervals are based on the trader's timeframes including any custom timeframes.

Timeframe Configurations

• Enable or Disable a Timeframe
  
• The Timeframe to Display
  
• Bullish / BISI FVG Color
  
• Bearish / SIBI FVG Color
  
• The number of FVGs For The Selected Timeframe
  

Limit to the next HTFs only can be used to display the selected number of HTF FVGs. For example, if the trader selects 3 then only 3 HTF FVGs will be displayed.

Note: If either of the next two options is selected, they will take up spots from this count.

Hide lower Timeframes restricts the FVGs to higher timeframes only. If this option is disabled, it will show lower timeframes FVGs as well.

Hide Current Timeframe removes current timeframe from the selected list of HTF FVGs. If this option is disabled, it will show current timeframe FVGs as well.

Background Transparency Enable or disable the background color (shaded area) of the FVG. If it is enabled, it will set the transparency amount. The higher the value, the more transparent the background.




Extend lines controls when and how to extend the FVG levels. There are three options:

• Extension Only extends the FVGs by the specified number provided below only.
  
• Current Candle Plus Extension extends all the FVGs beyond the current candle by the number provided below.
  
• When in Range will only extend the FVGs near current price based on the advanced settings below. This setting will use Average True Range multiplier to calculate the range (shows FVGs that are higher or lower by the average candle size multiplied by the number in Advanced section).
  

Mitigated shows or hides the mitigated HTF FVGs. A FVG is considered mitigated based on one of the following options:

• None will ignore mitigation and show all FVGs.
  
• Touched when a HTF FVG is touched regardless of how deep the price get inside the FVG.
  
• Wick filled the FVG is closed by a wick or body of a candle.
  
• Body filled the FVG is closed by the body of a candle
  
• Wick filled half a candle's wick or body has reached the C.E. of the FVG
  
• Body filled half a candle body has reached the C.E. of the FVG
  

Extend mitigated lines sets the number of candles to extend the mitigated FVG levels by for better visibility.

Important Note: Mitigation is calculated based on the timeframe of the FVG, not current timeframe.

Display



Display settings focus on how the FVGs will be displayed. The trader is in total control and there are multiple ways to overlay FVGs on the chart.

• Open / Close / C.E. / Link controls the borders. Traders can enable or disable any of them as well as set the thickness and style. Link is the right border.
  
• C.E. also offers the option of setting the bullish (BISI) and bearish (SIBI) colors of the C.E. level
  

Labeling controls if the labels should be displayed next to the FVG, their color, background, and font size.

Label levels to display controls which levels to show. Open, High. or the C.E.

Label display content controls what to show in the labels, the timeframe of the label, is it a BISI or a SIBI, and a label to indicate if it is the Open or the Close.

Note: if the distance between the open and close has the potential of overlapping the labels, then the indicator will only show the C.E. label for visual clarity.

Advanced Settings



Advanced settings controls some internal calculations:

• Proximity factor based on daily range used to calculate possible range of FVGs within a day's range to keep the chart clean. The higher the value, the more FVGs will be shown.
  
• Combine labels factor for visibility used to calculate the distance between the open and close and if all the labels or only the C.E. should be displayed. The higher the value, the bigger the distance for combination (smaller numbers will show more labels).
  
• Range should be within X candles used when "When in Range" option is selected. This is the ATR multiplier used to extend the FVGs. The higher the number, the more FVGs will be extended.
  

Once desired settings have been achieved, the settings can be saved as default from the bottom left of the indicator settings page for future use.