ICT Balanced Price Range - Double FVG with Volume

The ICT Balanced Price Range - Double FVG with Volume indicator identifies Fair Value Gaps (FVG) and Balanced Price Ranges (BPR) while using volume analysis to confirm high-probability liquidity shifts.

Usage

This tool is designed to highlight specific price inefficiencies within the Inner Circle Trader (ICT) methodology. Traders can use the indicator to:

• Identify Volume-Backed FVGs: The script highlights candles where an FVG is formed alongside a volume spike, suggesting a more significant market imbalance.
• Spot Balanced Price Ranges (BPR): When two opposing FVGs (bullish and bearish) overlap or form a connected gap, the script draws a box representing a BPR. These areas often serve as high-probability reversal zones or magnets for price action.
• Trend Confirmation: Use the colored candle overlays to quickly identify whether a bullish or bearish imbalance is being driven by abnormal volume.

Details

The script avoids common overfitting issues found in standard FVG indicators by forgoing filters like ATR or price percentage. Instead, it focuses on the structural relationship between consecutive gaps.

• Volume Filtering: It calculates a Volume Moving Average (MA) and compares the current volume against a user-defined threshold. FVGs formed during "high volume" bars are visually distinguished to signify stronger institutional activity.
• BPR Logic: A Balanced Price Range is detected when the market moves rapidly in one direction creating a gap, and then immediately fills that gap with a move in the opposite direction, creating a second gap. This overlapping area is critical for identifying liquidity sweeps.

Settings

FVG Lines & Fills

• Bullish/Bearish FVG Line Color: Sets the border color for active bullish and bearish gaps.
• Bullish/Bearish FVG Fill Color: Adjusts the background transparency and color for the FVG zones.

Candles

• Bullish/Bearish Candle Color: Changes the color of candles that form a standard gap.
• High Volume Bull/Bear Candle: Specifically colors candles that exceed the volume threshold during gap formation.

Volume

• Volume MA Length: The lookback period used to calculate the average volume.
• High Volume Ratio: The multiplier applied to the average volume to determine what constitutes a "spike" (e.g., 1.2 means 20% above average).

Display & Style

• Show Broken FVGs: Toggles whether the indicator should keep displaying gaps after price has traded through them.
• Box Style: Customizes the visual appearance (solid, dashed, or dotted) of the Balanced Price Range boxes.

FAQ

• How can I use this for entries? Traders often look for price to return to the Balanced Price Range (BPR) or a high-volume FVG for a "retest" before entering a trade in the direction of the initial sweep.
• Does this work on all timeframes? Yes, the logic is based on price action and volume relative to the current timeframe's average, making it applicable to scalping, day trading, and swing trading.
• How do I access the ICT Balanced Price Range - Double FVG with Volume? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.