OPEN-SOURCE SCRIPT
BOS & FVG Pullback Signals TMT
How it Works:
Fair Value Gaps (FVGs): The script looks for three-candle patterns where a gap is formed between the first candle's high/low and the third candle's low/high, indicating a strong momentum move (often occurring after a Break of Structure).
Pullback Detection:
For a BUY, price must pull back and touch an active Bullish FVG without breaking fully below it.
For a SELL, price must pull back into an active Bearish FVG without breaking fully above it.
Rejection & Continuation (The Signal):
BUY Signal: When price wicks into the Bullish FVG, confirms a rejection by closing above the top of the FVG, and displays a prominent lower wick.
SELL Signal: When price wicks into the Bearish FVG, confirms a rejection by closing below the bottom of the FVG, and displays a prominent upper wick.
Invalidation: An FVG is invalidated if price completely violates it (closes below a Bull FVG or above a Bear FVG). Once a signal is fired for a specific FVG, that FVG stops acting as a signal trigger to prevent duplicate entries on sideways movement.
You can customize the Minimum FVG Size (using an ATR multiplier) in the settings to filter out minor, insignificant gaps and focus only on the ones that cause strong trend continuations.
Fair Value Gaps (FVGs): The script looks for three-candle patterns where a gap is formed between the first candle's high/low and the third candle's low/high, indicating a strong momentum move (often occurring after a Break of Structure).
Pullback Detection:
For a BUY, price must pull back and touch an active Bullish FVG without breaking fully below it.
For a SELL, price must pull back into an active Bearish FVG without breaking fully above it.
Rejection & Continuation (The Signal):
BUY Signal: When price wicks into the Bullish FVG, confirms a rejection by closing above the top of the FVG, and displays a prominent lower wick.
SELL Signal: When price wicks into the Bearish FVG, confirms a rejection by closing below the bottom of the FVG, and displays a prominent upper wick.
Invalidation: An FVG is invalidated if price completely violates it (closes below a Bull FVG or above a Bear FVG). Once a signal is fired for a specific FVG, that FVG stops acting as a signal trigger to prevent duplicate entries on sideways movement.
You can customize the Minimum FVG Size (using an ATR multiplier) in the settings to filter out minor, insignificant gaps and focus only on the ones that cause strong trend continuations.
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.
Tradingmientrung
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.
Tradingmientrung
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.