ORB + Fair Value Gaps (FVG/iFVG) Suite with Daily 50% Midline

The ORB + FVG + iFVG + 50% indicator is a comprehensive price-action toolkit that integrates the New York Opening Range Breakout (ORB), automated Fair Value Gaps (FVG), Inverted FVGs (iFVG), and a dynamic Daily 50% Midline for advanced intraday analysis. This tool helps traders identify key institutional levels, liquidity pockets, and directional bias using smart money concepts.

Usage

The indicator can be used to navigate the New York session and identify high-probability trade entries based on imbalances and session structure.

• ORB Breakouts: Use the automatically plotted NY Session ORB high and low levels to identify initial session range and potential breakout or fakeout scenarios.
• Imbalance Tracking: Identify Fair Value Gaps for potential re-entries or targets. Once an FVG is fully violated, it converts into an Inverted FVG (iFVG), signaling a shift in order flow.
• Bias Filtering: Utilize the Daily 50% Midline as a dynamic mean-reversion level or a bias filter; trading above the midline suggests a bullish intraday bias, while trading below suggests a bearish one.
• Killzone Context: Monitor the Asia, London, and NY Killzones with visual boxes and pivot levels to catch liquidity sweeps across different trading sessions.

Details

The script executes real-time detection of 3-candle displacement structures to identify FVGs. A bullish FVG is detected when the high of the first candle is lower than the low of the third candle, while a bearish FVG occurs when the low of the first candle is higher than the high of the third. The indicator features an "Inversion" logic where FVG boxes are not simply deleted upon contact but are transformed into iFVGs when price closes through them, marking them as significant support/resistance zones. The Daily 50% Midline is calculated as (Daily High + Daily Low) / 2 and updates dynamically with every new price tick.

Settings

General & Killzones

• Timeframe Limit: Hides session and Killzone levels above the selected timeframe to maintain chart clarity.
• Max Lookback: Sets the maximum number of bars to store FVG and iFVG data for performance optimization.
• Killzones (Asia, London, NY AM/PM): Toggle visibility, colors, and sessions for specific trading windows.
• Killzone Pivots: Options to display session highs/lows with labels and price tags.

Daily & HTF Levels

• Day - Week: Toggle Daily/Weekly Open and High/Low lines with customizable styles.
• Hourly & 4H Pivot Levels: Displays HTF pivots (1H and 4H) for broader structural context.
• Daily 50% Midline: Toggle the dynamic daily midpoint with adjustable color and line style.

Imbalances (FVG/iFVG)

• Show FVGs/iFVGs: Main toggles for imbalance visibility.
• Only After ORB: Filter that hides imbalances formed before the NY Open.
• Delete on Fill: Automatically removes FVG boxes once the price gap is completely closed.
• Partial Fill: Shrinks the FVG box visually as the price moves into the gap.
• Min FVG Size: Filters out insignificantly small gaps based on a user-defined point value.

FAQ

How do I use the ORB session levels?

The ORB levels mark the high and low of the first 15 minutes (default) of the NY session. Traders often look for a breakout and retest of these levels or a sweep of the levels followed by a reversal.

What is the difference between an FVG and an iFVG?

An FVG is a gap created by a fast price move. An iFVG (Inverted Fair Value Gap) is an FVG that has been completely traded through by price, often acting as a new support or resistance level.

How can I access the ORB + FVG + iFVG + 50% indicator?

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