Inversion Fair Value Gap Screener

The Inversion Fair Value Gap Screener tool provides real-time tracking of Inverse Fair Value Gaps (IFVGs) across five different tickers, helping traders identify market reversals and liquidity shifts. This multi-ticker dashboard streamlines market analysis by displaying critical data such as gap status, retest counts, consumption percentages, and volume metrics in a single interface.

Usage

The Usage section focuses on monitoring IFVGs across multiple assets simultaneously. Traders can use the screener to identify high-probability reversal zones without manually scanning different charts.

• Status Tracking: The screener categorizes the relationship between current price and the IFVG as "Far" (distant), "Approaching" (moving toward the zone), or "Inside" (currently testing the zone).
• Consumption Monitoring: Understand how much of a zone has been penetrated. For example, if price reaches the midpoint of an IFVG, the dashboard reflects a 50% consumption level.
• Retest Analysis: The tool tracks how many times price has entered the IFVG zone without invalidating it. A high number of retests may indicate the strength of the support or resistance level.
• Volume Insights: The screener displays the volume of the bar that caused the original Fair Value Gap (FVG) to invert, providing a gauge of the momentum behind the reversal.

Details

An Inversion Fair Value Gap occurs when a standard Fair Value Gap (an imbalance in price action) is "invalidated" by price closing or wicking through it. Once the original FVG is breached, it acts as an inverted zone (support becomes resistance, or vice versa).

This script identifies these transitions automatically. It first detects standard FVGs based on three-bar formations and then tracks them until they are breached. Upon breach, the zone is converted into an IFVG. The screener uses request.security to fetch data from different tickers and timeframes, allowing for comprehensive top-down or cross-market analysis.

Settings

Tickers

• Ticker Selection: Configure up to 5 individual ticker symbols.
• Timeframe: Set specific timeframes for each ticker (note: should be equal to or higher than the current chart timeframe).
• Enable/Disable: Toggle individual tickers on or off within the dashboard.

General Configuration

• Zone Invalidation: Choose between "Wick" or "Close" price to determine when a standard FVG becomes an IFVG.
• IFVG Zone Invalidation: Choose between "Wick" or "Close" to determine when an IFVG is fully consumed or invalidated.
• Zone Filtering: Select "Average Range" to filter gaps based on historical volatility or "Volume Threshold" to filter for high-volume imbalances.
• FVG Detection: "Same Type" requires all 3 bars in the formation to be the same direction (e.g., all bullish); "All" allows mixed bar types.
• Detection Sensitivity: Adjust between Low, Normal, High, or Extreme to determine the minimum size of the gaps detected.

FAQ

How do I interpret the "Consumed" percentage? The consumption percentage indicates how much of the IFVG price range has been traversed by wicks or closes. A 100% consumption usually means the zone has been fully tested or invalidated.

Can I use this for any asset class? Yes, the screener is compatible with Crypto, Stocks, Forex, and Futures, provided the symbols are available on TradingView.

How do I access the Inversion Fair Value Gap Screener? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.