OPEN-SOURCE SCRIPT
Updated Imbalanced zone
Imbalance, this is a zone / gap created when the price move with force in a given direction. It identify a zone where the price could
potentially go back. This gives perfect targets for your trades.
Imbalance is created from the high and low of 3 candles. When the wicks the of 1st and 3rd candle does not fully overlap the middle one.
You can define the penetration ratio which will delete a tested zone from the chart. Usually find that 20% (0.2) is pretty accurate.
potentially go back. This gives perfect targets for your trades.
Imbalance is created from the high and low of 3 candles. When the wicks the of 1st and 3rd candle does not fully overlap the middle one.
You can define the penetration ratio which will delete a tested zone from the chart. Usually find that 20% (0.2) is pretty accurate.
Release Notes
Update screenshot with imbalanced zone displayed correctlyRelease Notes
Add alert on new imbalanced candleFix deletion of triggered imbalanced zone
Release Notes
Add note & fix screenshotRelease Notes
Just update screenshotRelease Notes
Add color option for boxesAdd mid line for each boxes
The mid line can be used as specific target when using imbalanced zone as your potential target zone.
Release Notes
In this update you'll be able to select the timeframe you'd like the imbalance to be computed and displayed with (eg: 15min imbalance on a 5min chart)Also a reduce option which will reduce the imbalance based on price touch within it.
Release Notes
Add new imbalance zone- daily and weekly open gap, which are relevant for non crypto market
- volume imbalance with their own TF support
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.