ICT 1st Presented FVG

The ICT 1st Presented FVG indicator identifies and plots the first fair value gap (FVG) that appears after a chosen session start time, such as the 9:30 AM New York open. It serves as a tool for traders following Inner Circle Trader (ICT) concepts to highlight early session imbalances that often act as critical algorithmic price levels for the remainder of the day.

Usage

The indicator automatically detects the "first presented" imbalance once a session begins. While it defaults to the 9:30 AM NYSE open, it can be configured for Midnight, the PM session, or custom user-defined times.

Traders can use this tool to:

• Identify Key Imbalances: Automatically mark the initial FVG, Volume Imbalance (VI), or Liquidity Void (LV) that suggests market direction or potential retracement zones.
• Filter Quality: Use the "Prioritize Displacement" feature to allow a subsequent, stronger FVG to replace the initial one if it shows more significant price movement.
• Track Historical Influence: Extend the plotted imbalances across the day or week to see how price reacts to these levels during later sessions.

Details

The script operates on the principle that the first major displacement after a session open represents a significant shift in order flow. It includes a "Grace Period" setting to protect the initial gap from being immediately replaced by minor volatility. The "Superiority Factor" determines how much larger or stronger a new gap must be to override the incumbent "first" FVG. The tool supports multiple session resets, allowing for fresh identification at Midnight, 9:30 AM, and 1:30 PM (New York Time) simultaneously.

Settings

Sessions

• Session Toggles: Enable or disable specific trading windows (e.g., Midnight, NY AM, NY PM).
• Session Range: Define the start and end times for imbalance detection.
• Session Color: Customize the background fill for each specific session window.

Imbalances

• Show FVGs/VIs/LVs: Toggle the detection of Fair Value Gaps, Volume Imbalances, or Liquidity Voids.
• Include Open/Close: Option to include candle bodies in gap calculations.
• Detection Timeframe: Select a specific timeframe for detection or leave blank to use the current chart timeframe.

Replacement Logic

• Prioritize Displacement: When enabled, newer, stronger displacements can replace the initial FVG.
• Grace Period: Sets a duration (in minutes) from the session start where the first FVG cannot be replaced.
• Superiority Factor: A multiplier determining how much stronger a new gap must be to replace the current one.

Extension & Visualization

• Extend Current/Old: Choose to extend imbalances forward to the current bar or through the end of the session/day.
• Style (Blocks/Lines): Render imbalances as solid filled boxes or simple horizontal lines.
• Label Formatting: Customize the text, time format, and position of labels attached to the imbalances.

FAQ

How do I access the ICT 1st Presented FVG indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I track the Monday FVG throughout the whole week? Yes, there is a specific setting "Extend Monday session's First-FVG" that keeps the Monday opening imbalance active on the chart until the weekly close.

What is the difference between a Volume Imbalance and a standard FVG? A standard FVG uses the gap between candle shadows, while a Volume Imbalance (VI) identifies gaps specifically between the closing and opening prices of consecutive candles.