BISI - SIBI (FVG) + Order Blocks + iFVG Impulsive Candles

The BISI - SIBI (FVG) + Order Blocks + iFVG Impulsive Candles tool provides a comprehensive suite of price-action elements used in imbalance and liquidity-based trading, including Fair Value Gaps, Order Blocks, and market structure shifts.

Usage

The tool is designed to identify key institutional levels and impulsive market moves. Users can utilize the following features for technical analysis:

• Fair Value Gaps (FVG): Identified as BISI (Bullish) or SIBI (Bearish) imbalances. These zones often act as magnets for price retracements.
• Order Blocks (OB): Highlights areas of displacement where a strong move breaks the previous candle's range, suggesting institutional activity.
• Killzones & Liquidity: Visualizes specific trading sessions (e.g., London, New York) and key liquidity levels like Previous Day High/Low (PDH/PDL).
• Market Structure: Automatically detects Break of Structure (BOS) and Change of Character (CHoCH) to help determine trend direction.

Details

The indicator uses specific logic for zone mitigation and detection:

• FVG Logic: A BISI is formed when the current low is higher than the high from two bars ago. A SIBI is formed when the current high is lower than the low from two bars ago.
• Order Block Logic: Defined by the high/low of the candle preceding a displacement move.
• Mitigation (Fill) Logic: Zones can be set to "filled" based on either wick or body penetration. The "Corps" (Body) setting requires the candle body to cross the zone, offering a stricter invalidation criteria.
• Auto-Management: The script includes logic to dynamically stretch zones until they are mitigated and automatically delete filled zones to maintain chart clarity.

Settings

General Settings

• Lookback Bars: Defines the historical range for pattern detection.
• Max PD Arrays: Limits the maximum number of active boxes displayed.

FVG & Order Block Settings

• Show FVGs/OBs: Toggles the visibility of specific price action arrays.
• Stretch until filled: Extends the zones horizontally until price interacts with them.
• Auto-delete when filled: Removes the zone from the chart once mitigation occurs.
• Fill trigger: Chooses between wick (Mèche) or body (Corps) penetration for mitigation.
• Visuals: Customization options for text labels, colors, and background opacity.

Killzones & Liquidity

• Killzone Sessions: Configuration for up to 5 time-based sessions with custom colors.
• Liquidity Levels: Toggle visibility for PDH/PDL, PWH/PWL, and PMH/PML.
• Opens: Displays Daily, Weekly, Monthly, Yearly, and Midnight opening prices.

Market Structure

• Swing Length: Determines the lookback period for identifying swing highs and lows for BOS/CHoCH detection.

FAQ

How do I use the iFVG coloring?

Enable the displacement candle setting to highlight impulsive bars. This colors the candles themselves when specific imbalance conditions are met, allowing for quick identification of momentum without adding boxes to the chart.

What is the difference between BISI and SIBI?

BISI (Buy Side Imbalance, Sell Side Inefficiency) refers to a bullish Fair Value Gap, while SIBI (Sell Side Imbalance, Buy Side Inefficiency) refers to a bearish Fair Value Gap.

How can I access this indicator?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.