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Imbalance - smart money power

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🔶What it is ?

Imbalance indicator that is a tool to help you to define imblance/Fair Value Gap area better to know whether smart money joined current market atomatically.

This indicator will measure the gap between every 3 candles to know to show which candles having Imbalance among them. They will be marked by diffirent colors compare with original colors of chart.

Our purpose is, help traders to define Imbalance area faster and easier by atomation tools and save time during analyzation.

What is Imbalance in detail ?
To help you to undertand better about imbalance definitiion, please refer to below picture :
snapshot
We're having 3 candles as I marked number 1,2,3.
Candle 2 is a very big marubozu candle, it made a gap between the first candle's high
and the 3rd candle low on the chart. That gap we call as imbalance and it show that smart money join to buying direction now.

🔶 Who can use it ?

1. All traders who are using NCI, ICT , Smart money concepts, MACD system and other systems...

2. All traders who are trading on any timeframe

3. All traders who are trading on Forex, Crypto, Stock, Indicies...

4. All traders who are new or experienced traders

5. All traders who are swing or scalping traders

🔶 The purpose of indicator

1. Define big money flow when it joined to market.

2. Define power of zones with Imbalance. Which zones have imbalnce that's normally a strong zone to entry and set a safety stop-loss.

3. Helping to decide trading system faster, if you see IMB appeared, it is better to use Smart money concepts.

4. Always "Empty your mind" during Trading because you checked chart less with automation tool.

🔶 How will indicator appear on chart

After you added it on chart, indicator will mearsure and calculate the gaps among three candles. If there're a gap among them, indicator will change the color of those candles.
Please refer to below picture for more detail
snapshot
We're having 2 types of color as green and red.

With Imabalanec candles, it will be shown as :
1. Aqua color : Up Imbalance
2. Yellow color : Down imbalance

We just focus on candle (2) and (3) so indicator will mark color on these 2 candles only.

🔶 INPUT value

You can change color of imbalance candles from orginal color (aqua, yellow) to any color you want by go to SETTING and change it on STYLE.


🔶 How to use indicator
After setting indicator, indicator will mearsure and run automatically to mark imbalance candles on your chart.

That's signal of smart money concepts, you can start your analyzation with your trading system that are using imbalance.

I hope this indicator help you to trade more effectively.
Notes de version
🔶 Add more setting ALERT
If you prefer to receive a remind from Indicator than checking Mental status on indicator table

You can set alert by Tradingview with below steps :
1. Click to Alert on top middle of chart (tool bar)
2. At Condition, choose Imbalance - smart money power
3. Click to Create

Alert will help you to monitor power of market easier
Notes de version
Update "Professional mode" on Setting to analyze Imbalabnce deeper for professional traders

New update will help you to see more dectection to help you to analyze chart better.
For new traders, I recommend you should turn it off to practice at basic mode to understand strategy before comming to higher level in the near future.
snapshot

You can open Setting of Indicator
Click to turn on to use this mode easily
Notes de version
I would like to set candle 1 and candle 3 as an optional only
to help your chart be more clearly. You can turn on these candles on Indicator's setting
educationaljaycephamkeylevelncitradingsmartmoneyconceptsTrend AnalysisVolatility

Script protégé

Ce script est publié en code source fermé et vous pouvez l'utiliser librement. Vous pouvez le préférer pour l'utiliser sur un graphique. Vous ne pouvez pas visualiser ou modifier son code source.

Vous voulez utiliser ce script sur un graphique ?


Jayce Pham - Founder & CEO of NCI Trading system
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