FVG/Orderblock Zone Indicator

I am looking to have a custom indicator created that marks my customizable orderblock/FVG zones on the chart and can then detect price re-enters and exits the unmitigated portion of this zone and will change color to show this. After a portion of the zone is mitigated or filled, the zone is redrawn to only the unmitigated zone. Zones are also deleted after price passed through the orderblock. 

The fair value gap and orderblock concepts are common price action concepts that can be found in many trading communities. This guide will not explain these concepts as they are easily found on the internet.

The indicator should do the following:

Step 1 Zone Specification and Drawing

1. The indicator should work for both bullish and bearish orderblock/fvg zones. If needed two separate indicators for bullish or bearish fvg/orderblock zones can be made.

2. The indicator should be able to differentiate between the FVG zone that we expect to be filled and the orderblock zone as well as join them for display of the zone on the chart.

 

3. The indicator should create a separate zone for each Orderblock/FVG. Fair value gaps can only be joined into a single zone if they do not have an opposite closing orderblock candle within the range of bars set by the "orderblock bars back" parameter and they are in consecutive order.

 

4. Only draw zones for fair value gaps that are equal to or greater than the % the bar range specified by the "minimum FVG %" parameter.

 

5. Have the zone be customizable by a variable parameter or how deep a percentage of retracement into the FVG where the zone will begin. Always start the zone at the % retracement into the FVG specified by the parameter known as "FVG Retracement %", even if the start of the orderblock is at a lower retracement percentage.

 

6. Group price gaps into the FVG/orderblock zone. Include the price gap in the FVG zone that when filled/mitigated leads to eventual deactivation and end of projection of the zone.

 

7. Have the zone customizable by a variable parameter know as "orderblock bars back" of how many bars to look back behind the FVG and group into the orderblock. The end of this zone should be marked at the tip of the orderblock group. For bullish zones this would be the low of the lowest red candle in the amount of bars behind the FVG specified by the "orderblock bars back" parameter.

 

8. If there is no orderblock to the left of a FVG within the amount of bars specified by the "orderblock bars back" threshold, mark only the zone starting at the "FVG retracement %" parameter to the end (low or high) of the bar that contains the FVG. If two or more FVG's are joined without an orderblock, the end of the low of the zone should be the low of the lowest candle in the chain of FVG candles for bullish examples and the opposite for bearish. 

 

9. Have the zone be customizable by a variable parameter of how many bars this zone stays on the chart. This parameter will be known as "zone is valid for bars"

 

10. Draw the orderblock/FVG zone on the chart that projects into current prices. All the way over to the righthand edge of the chart.

Step 2 Lower time frame binary signal generation to be known as "Inside POI Zone"

   11.Calculate zones based on the close of every bar of the lower time frame specified in the parameter to be known as "lower timeframe signal".

   12.Detect when any portion of the current price bar of the timeframe specified by the parameter to be known as "lower timeframe signal" enters a fvg/orderblock zone.

   13. This will cause that specific zone to change color and for the indicator to generate a signal to be known as "Inside POI Zone"

   14. The zone resting color and color that they change to upon price's entry into the zone will be parameters to be known as  "zone color" and "zone color change" respectively.

   15. After an amount of bars specified by the parameter "bars on zone exit" has their bar range completely exit the zone, the zone will be reduced to it's unmitigated/unfilled portion and change color back to it's original state, if they is no fvg left to fill then the zone will stop being projected into the right hand edge of the chart. This will also deactivate the indicator signal to be known as "Inside POI Zone".

   16. Old or deactivated zones with no FVG left to fill or mitigate will remain on the chart for as long as the parameter to be known as "zone is valid for bars" specifies.

 

   17. The indicator signal to be named "Inside POI Zone" can be displayed in a bottom window of the chart as a binary signal where the top of the window is marked as 1 and the bottom is marked as 0. A horizontal line inside this window will move back and forth between the bottom and top of the window whenever the indicator signal is active or not.

Step 3 Zone reduction and deactivation

   18. After price exits a zone completely for the entire range of the bars for an amount of bars specified by the parameter to be known as "bars on zone exit" on the time frame specified by the parameter to be known as "lower timeframe signal" the zone that price left will then be reduced by the amount that price traveled into and filled/mitigated the FVG of the fvg/orderblock zone. The zone will also change back to it's original color before an indicator signal was generated.

   19. If there is no amount of FVG in the fvg/orderblock zone left to fill/mitigate then the zone should be stop being projected to the right edge of the chart and that fvg/orderblock zone can no longer generate the indicator signal. Other fvg/orderblock zones on the chart will still maintain the ability to generate the indicator signal.

 

   20. If at any time price crosses completely through a fvg/orderblock zone. That zone should be deactivated and stop being projected to the right edge of the chart and not be able to generate indicator signals.

 

Parameters explained.

1.Bars behind FVG to group into orderblock. We should call this "Orderblock bars back"

2. % retracement into FVG to start zone. 0-100%. We should call this "FVG Retracement %"

3. Bars that the Zone stays valid for and remains on the chart. We can call this "Zone is valid for bars"

4. Lower timeframe to use for triggering the signal condition. When a bar of this specified timeframe has any portion of it inside the zone. for example 5M candles inside of 1H orderblock/FVG zone. We can call this "Lower time frame bar signal".

5. Zone color. We can call this "zone color" this will allow us to change the color of the zone that the indicator draws.

6. Zone color change. We can call this "zone color change". When price is printing bars on the selectable lower time frame with any portion inside the zone. The zone should change color to a selectable color.

7. Bars on Zone Exit. Named as "Bars on Zone Exit" Determines how many bars need to close with their entire bar range outside of the zone for it to change color back to the original condition and then redraw or deactivate the zone. 

8.Minimum FVG %. Named as "minimum fvg %". The minimum FVG size as a percentage of the bar range that is required in order to draw a zone. Too small a FVG and it should not be valid and not draw the zone.

Parameter List

1. Orderblock Bars Back - number

2. FVG Retracement % - % expressed as a number 0-100

3. Zone is Valid for Bars - number

4. Lower Timeframe Bar Signal - Slide down bar with selection of a range of time frames from 1Minute to 1Day.

5.Zone Color - Selection of colors

6. Zone Color Change - Selection of colors.

7. Bars on Zone Exit - number

8. Minimum FVG % - % expressed as a number 0-100