indicator · on price · open source

Fair Value Gap (Bullish)

Deepwick · @deepwickv1Updated 2 Oct 2026▲ 0 users

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About

Bullish Fair Value Gap — a 3-candle pattern where the wick of bar[2] sits above the wick of bar[0] with no overlap, leaving an imbalance institutions tend to revisit.

Green zone = top of bar[2] high to bottom of bar[0] low.
Optional minGapPct filter ignores tiny gaps (in % of price).
Pairs with a discount filter for long entries.

Source code

//@version=5
indicator("Fair Value Gap (Bullish)", overlay=true)
minGapPct = input.float(0.1, "Min Gap %", minval=0, maxval=5, step=0.05)
extendBars = input.int(30, "Extend Bars", minval=5, maxval=200)
gapBull = low[0] > high[2]
gapPct = (low[0] - high[2]) / close * 100
gapBull := gapBull and gapPct >= minGapPct
var float fvgBullTop = na
var float fvgBullBot = na
var int fvgBullAge = 9999
if gapBull
    fvgBullTop := low[0]
    fvgBullBot := high[2]
    fvgBullAge := 0
fvgBullAge += 1
if fvgBullAge > extendBars
    fvgBullTop := na
    fvgBullBot := na
p_Bull_FVG_Top = plot(fvgBullTop, "Bull FVG Top", color=color.green, style=plot.style_linebr)
p_Bull_FVG_Bot = plot(fvgBullBot, "Bull FVG Bot", color=color.green, style=plot.style_linebr)
fill(p_Bull_FVG_Top, p_Bull_FVG_Bot, color=color.new(color.green, 88))
alertcondition(gapBull, "Bullish FVG", "Bullish fair value gap printed")

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