FVG Screener

The FVG Screener indicator provides a multi-timeframe dashboard for identifying Fair Value Gaps (FVGs) and monitoring when price enters these liquidity zones across five customizable timeframes. This tool helps traders track potential market imbalances and inefficiencies without needing to switch charts constantly.

Usage

The Usage section focuses on how the dashboard displays real-time FVG status across multiple timeframes. The screener tracks bullish and bearish FVGs that have not yet been "filled" or mitigated.

• FVG Status: The table updates to show if price is currently inside an unfilled FVG for any of the active timeframes.
• Multi-Timeframe Monitoring: Users can set up to five different timeframes. For example, a day trader might monitor the 5m, 15m, 1h, 4h, and Daily intervals simultaneously.
• Filling Logic: The indicator allows you to define what constitutes a "filled" FVG—either when price reaches the FVG boundary with its High/Low or when it closes beyond it.

Details

Fair Value Gaps (FVGs) represent areas where a rapid price move leaves behind an imbalance in liquidity, often acting as magnets for future price action. This script uses request.security to fetch data from higher or lower timeframes and stores active FVGs in arrays.

• Performance and Calculation: Note that calculating FVGs on timeframes significantly different from the current chart (e.g., viewing Daily FVGs on a 1-minute chart) may impact performance. It is recommended to use timeframes relatively close to your current view.
• Repainting Note: While the indicator works accurately for Higher Timeframes (HTF), looking for FVGs on lower timeframes than the current chart may cause repainting due to how data is processed in Pine Script.
• Memory Management: The Max bars back setting limits how far the script looks for historical FVGs to maintain optimal calculation speeds.

Settings

Timeframes

• Timeframe 1 - 5: Select the specific interval for each of the five screener slots.
• Label: Customize the text label displayed in the table for each timeframe (e.g., "H4" or "Daily").
• On/Off Toggle: Enable or disable specific timeframes from being tracked in the table.

FVG Settings

• Filled FVG Type: Determines the mitigation criteria. "Close" requires a candle close to fill the gap, while "H/L" considers the gap filled as soon as price touches the boundary.
• Max bars back to find FVGs: Sets the lookback window for identifying active FVGs. Higher values increase the historical search but may slow down the script.

UI

• Table Position: Choose the corner of the chart where the screener dashboard will be displayed (Top Right, Bottom Right, Top Left, or Bottom Left).

FAQ

How do I interpret the colors in the table? The table will highlight the specific timeframe cell when the current price is trading within an identified, unfilled Fair Value Gap for that interval.

Why is the indicator loading slowly on my chart? If there is a large discrepancy between your chart timeframe and the indicator's settings (e.g., checking Weekly FVGs on a 5-second chart), the computation will be slower. Try using timeframes closer to your active chart.

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