AMD-Imbalance
This script looks at three consecutive candles and if there is an area between the wicks of the first and third candle, it will paint a box to mark the area.
The marked area is considered an imbalance or inefficiency in the market. Price usually finds its way back to that area of imbalance to clear it.
As price clears part of the area of imbalance, the box turns from a solid border to a dashed border.
The marked area is considered an imbalance or inefficiency in the market. Price usually finds its way back to that area of imbalance to clear it.
As price clears part of the area of imbalance, the box turns from a solid border to a dashed border.
Release Notes:
Updated code to Pinescript version 5
Added color selection for candles and imbalance boxes
Added the ability to limit boxes shown on the screen
Working on pro version that will include alerts, multi timeframes, imbalance grouping, pip counts, and more!
Added color selection for candles and imbalance boxes
Added the ability to limit boxes shown on the screen
Working on pro version that will include alerts, multi timeframes, imbalance grouping, pip counts, and more!