Aug 26 • Tech-Software discussion
TOS Script for Fair Value Gap Indicator
I had ChatGPT write a ThinkorSwim script for a study that shows an arrow on the 3rd candle of a Fair Value Gap. I have it set for a minimum of 0.5 points but you can customize that. I find it useful so I thought I'd share. Here you go! (I also have the engulfing candle pattern turned on in TOS though none are showing in this screenshot.)
# ==== FVG Arrow — Confirmation Bar (Directional) ====
# Bullish FVG = arrow UP below the bar
# Bearish FVG = arrow DOWN above the bar
input minGapPoints = 0.50; # ES/MES = 2 ticks
input offsetTks = 10; # spacing in ticks
def t = TickSize();
def bn = BarNumber();
# FVG conditions (current vs bar[2])
def bullGap = low > high[2] and (low - high[2]) >= minGapPoints;
def bearGap = high < low[2] and (low[2] - high) >= minGapPoints;
def fvgNow = bn > 2 and (bullGap or bearGap);
# --- Bullish arrow (up, under candle) ---
plot BullArrow = if bullGap then low - offsetTks * t else Double.NaN;
BullArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
BullArrow.SetLineWeight(1);
# --- Bearish arrow (down, above candle) ---
plot BearArrow = if bearGap then high + offsetTks * t else Double.NaN;
BearArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
BearArrow.SetLineWeight(1);
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TOS Script for Fair Value Gap Indicator
skool.com/investceo-with-kyle-henris-4723
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