PowerGaps - Multi-Timeframe Fair Value Gaps

The PowerGaps - Multi-Timeframe Fair Value Gaps indicator identifies and projects institutional imbalances from multiple timeframes onto a single chart to help traders spot key liquidity inefficiencies and premium/discount zones.

Usage

This tool can be used to map out high-timeframe (HTF) bias while trading on lower-timeframe (LTF) charts. By visualizing where larger market participants have left imbalances, traders can identify high-probability reversal or continuation zones.

The script allows for the simultaneous tracking of up to three independent timeframes. Each Fair Value Gap (FVG) is color-coded and labeled by its timeframe for quick visual identification. Users can choose between two projection modes:

• Standard: Extends the FVG box infinitely to the right until mitigation occurs.
• Clean: Projects the FVG box by a fixed number of bars, maintaining a tidier chart while still tracking the level.

Details

The script utilizes a robust validation engine to ensure that gaps are accurate and non-repainting. It employs request.security to fetch data from higher timeframes and projects these areas onto the current chart.

A key feature is the automated mitigation system. A gap remains active until the market price "fills" or touches the imbalance area. Depending on the settings, the gap is removed once a candle wick touches the zone or once a candle closes through it. This ensures that only active, unmitigated liquidity zones are displayed.

Settings

Visual Settings

• Mitigation Mode: Determines if a gap is removed when price wicks through it ("Wicked Through") or when a candle closes beyond it ("Closed Through").
• Projection Mode: Selects between "Standard" (infinite extension) or "Clean" (fixed bar length).
• Clean Projection Length (Bars): Sets the horizontal length of the box when using the Clean projection mode.

Label Settings

• Show Labels: Toggles the visibility of the timeframe labels on the right side of the gaps.
• Label Size: Adjusts the text size of the timeframe labels.

Timeframe (TF) Groups 1-3

• Enable TF: Toggles the detection for the specific timeframe slot.
• Timeframe: The specific timeframe to scan for FVGs (e.g., 15m, 1h, 4h).
• Bull Color: The background and border color for bullish imbalances.
• Bear Color: The background and border color for bearish imbalances.

FAQ

How do I access PowerGaps - Multi-Timeframe Fair Value Gaps?

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

What is the difference between "Wicked Through" and "Closed Through" mitigation?

"Wicked Through" removes the FVG as soon as the high or low of any candle touches the opposite boundary of the gap. "Closed Through" requires a candle body to close beyond the gap boundary to consider it mitigated.

Can I use this for scalping?

Yes, the indicator is ideal for scalpers who want to see where H1 or H4 imbalances reside while executing trades on 1-minute or 5-minute charts to ensure they are trading with HTF confluence.