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Balanced Price Range (BPR)

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6dm28nk48c
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30 views2 pages

Balanced Price Range (BPR)

Uploaded by

6dm28nk48c
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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/@version=5

indicator("Double FVG", overlay = true, max_bars_back = 500, max_boxes_count = 500)

enable_fvg = input.bool(title = '', defval = true, inline = 'fvg')


fvg_type = input.string(title = '', defval = 'Double FVG', options=['FVG','Inverse
FVG','Double FVG', 'FVG + IFVG', 'IFVG + DFVG', 'All'], inline = 'fvg')
bars_since = input(20, "Lookback", tooltip = "Only look for BPR's when a sequence
of bearish and bullish FVG's are within this many bars of each other")
extend = input.int(20, 'Extend', minval = 0, tooltip = 'No. of bard to extend the
BPR right side of the chart')
bpr_threshold = input.float(0, step = 0.25, title = "Threshold", tooltip = "Valid
BPR's must have a range greater than this number")
bearish_bpr_color = input.color(color.new(color.red, 70), title = '', inline =
'fvg')
bullish_bpr_color = input.color(color.new(color.green, 70), title = '', inline =
'fvg')
invis = color.rgb(0,0,0,100)

float box_high = na
float box_low = na
int box_left = 0
int box_right = 0
var box box_bearish = na
var box box_bullish = na

new_fvg_bearish = low[2] - high > 0


new_fvg_bullish = low - high[2] > 0

valid_high = high[1] > high[2] and high[1] > high[0]


valid_low = low[1] < low[2] and low[1] < low[0]

shouldDisplayDFVG()=>
fvg_type == 'Double FVG' or fvg_type == 'FVG + DFVG' or fvg_type == 'IFVG +
DFVG' or fvg_type == 'All'

// Bullish BPR
bull_num_since = ta.barssince(new_fvg_bearish)
bull_bpr_cond_1 = new_fvg_bullish and bull_num_since <= bars_since
bull_bpr_cond_2 = bull_bpr_cond_1 ? high[bull_num_since] + low[bull_num_since + 2]
+ high[2] + low > math.max(low[bull_num_since + 2], low) -
math.min(high[bull_num_since], high[2]) : na

bull_combined_low = bull_bpr_cond_2 ? math.max(high[bull_num_since], high[2]) : na


bull_combined_high = bull_bpr_cond_2 ? math.min(low[bull_num_since + 2], low) : na

bull_bpr_cond_3 = true

bull_result = bull_bpr_cond_1 and bull_bpr_cond_2 and bull_bpr_cond_3 and


(bull_combined_high - bull_combined_low >= bpr_threshold)

if bull_result[1] and shouldDisplayDFVG()


box_bullish := box.new(bar_index - 1, bull_combined_high[1], bar_index +
extend, bull_combined_low[1], border_color = invis, bgcolor = bullish_bpr_color)
alertcondition(bull_result[1], "Bullish Alert", "New Bullish BPR")

if not na(box_bullish) and low < box.get_bottom(box_bullish)


box.delete(box_bullish)
box_bullish := na
// Bearish BPR
bear_num_since = ta.barssince(new_fvg_bullish)
bear_bpr_cond_1 = new_fvg_bearish and bear_num_since <= bars_since
bear_bpr_cond_2 = bear_bpr_cond_1 ? high[bear_num_since] + low[bear_num_since + 2]
+ high[2] + low > math.max(low[bear_num_since + 2], low) -
math.min(high[bear_num_since], high[2]) : na

bear_combined_low = bear_bpr_cond_2 ? math.max(high[bear_num_since + 2], high) : na


bear_combined_high = bear_bpr_cond_2 ? math.min(low[bear_num_since], low[2]) : na

bear_bpr_cond_3 = true

bear_result = bear_bpr_cond_1 and bear_bpr_cond_2 and bear_bpr_cond_3 and


(bear_combined_high - bear_combined_low >= bpr_threshold)

if bear_result[1] and shouldDisplayDFVG()


box_bearish := box.new(bar_index - 1, bear_combined_high[1], bar_index +
extend, bear_combined_low[1], border_color = invis, bgcolor = bearish_bpr_color)
alertcondition(bear_result[1], "Bearish Alert", "New Bearish BPR")

if not na(box_bearish) and high > box.get_top(box_bearish)


box.delete(box_bearish)
box_bearish := na

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