Balanced Price Range (BPR FVG + IFVG) Indicator in ICT TradingView - Free

The Balanced Price Range (BPR) indicator marks a key zone for price retracement, referred to as "BPR" on the chart. The "BPR" zone is formed by the overlap of two Fair Value Gaps (FVGs).

This indicator is developed based on ICT (Inner Circle Trader) concepts; the BPR zone is a liquidity rich area to which the price tends to return.

BPR Indicator Specifications

The features of the BPR indicator are briefly reviewed in the table below:

Bullish Balanced Price Range

In the chart analysis below (Ripple in the 15-minute timeframe), the indicator identifies the BPR zone in the bullish direction and plots it on the chart using a blue box.

The price retraces to the zone as part of a correction and begins a bullish trend after interacting with it.

Bearish Balanced Price Range

Immediately after forming the bearish Balanced Price Range (BPR) zone, the price retraces to it and becomes strongly bearish after testing it.

The GBP/USD chart in the 15-minute timeframe illustrates how the indicator marks the zone, and the price reacts to it.

Indicator Settings

All customizable options for the "BPR" indicator are introduced in this section:

• Show All FVG & IFVG: Displays all "FVG" and "IFVG" zones;
• FVG & IFVG Validity Period: Validity of "FVG" and "IFVG" set to 500 candles;
• Switching Colors Theme Mode: Indicator theme;
• Show Bullish BPR: Displays bullish "BPR" zones;
• Show Bearish BPR: Displays bearish "BPR" zones;
• Mitigation Level BPR: Displays mitigation levels for "BPR" zones;
• Show Bearish IFVG & FVG: Displays bearish "FVG" and "IFVG" zones;
• Show Bullish IFVG & FVG: Displays bullish "FVG" and "IFVG" zones;
• Mitigation Level IFVG & FVG: Sets mitigation levels for "FVG" and "IFVG" zones;
• FVG Filter: Sets the type of "FVG";
• Alerts Name: Name of the alert;
• Alert BPR Mitigation: Alerts for mitigated zones;
• Message Frequency: Sets the frequency of alerts;
• Show Alert Time by Time Zone: Set alert timing based on a specific time zone.

Conclusion

The Balanced Price Range (BPR) indicator, developed based on ICT trading concepts, plots the "BPR" zones on the chart after identifying them.

The "BPR" zones are formed by the overlap of a bullish FVG and a bearish FVG, and the price tends to retrace to these areas.