OPEN-SOURCE SCRIPT
Updated Sniper FVG
This Pine Script indicator, Sniper FVG, is designed to highlight Fair Value Gaps (FVGs) within a defined trading session based on India Standard Time (IST). The user specifies a session window (default 19:00–01:40 IST), and the script automatically shades the chart background outside this range to keep focus on active trading hours. It also draws dashed vertical lines at session start and end for clear visual boundaries.
To filter signals, the script references higher‑timeframe EMA values (15m, 30m, 1h). At the first candle of each session, a bias is set: bullish if price is below all EMAs, bearish if price is above all EMAs, and neutral otherwise. Only FVGs aligned with this bias are drawn. The detection logic checks for gaps between the high of candle 1 and the low of candle 3 (bullish) or the low of candle 1 and the high of candle 3 (bearish). Boxes are extended a few bars forward, with customizable transparency, color, and minimum size percentage to avoid insignificant gaps.
Overall, the script combines session management, bias filtering, and gap visualization to help traders focus on meaningful FVG setups during their chosen trading hours.
To filter signals, the script references higher‑timeframe EMA values (15m, 30m, 1h). At the first candle of each session, a bias is set: bullish if price is below all EMAs, bearish if price is above all EMAs, and neutral otherwise. Only FVGs aligned with this bias are drawn. The detection logic checks for gaps between the high of candle 1 and the low of candle 3 (bullish) or the low of candle 1 and the high of candle 3 (bearish). Boxes are extended a few bars forward, with customizable transparency, color, and minimum size percentage to avoid insignificant gaps.
Overall, the script combines session management, bias filtering, and gap visualization to help traders focus on meaningful FVG setups during their chosen trading hours.
Release Notes
bias related changesRelease Notes
📌 Sniper FVG — Smart Session-Based Fair Value Gap ToolThe Sniper FVG indicator is designed for traders who want precise detection of Fair Value Gaps (FVGs) within defined trading sessions, with built-in bias control and higher timeframe EMA filters. It helps you focus only on high-probability setups by filtering signals based on session bias and user-defined preferences.
🔑 Key Features
- Session Control: Define custom IST-based trading sessions with automatic shading outside active hours. Start and end times are visually marked with dashed lines.
- Bias Detection: Session bias is determined at the first candle using higher timeframe EMA filters (15m, 30m, 1h).
• Bullish bias → highlights bearish FVGs
• Bearish bias → highlights bullish FVGs
• Neutral bias → suppresses signals
- Force Bias Override: Manually enforce bullish, bearish, or dual bias to adapt the indicator to your strategy.
- FVG Visualization: Automatically draws boxes for bullish and bearish FVGs with customizable colors and extension length.
- Session Shading: Grey background outside session hours for clear visual separation.
🎯 How It Helps
- Focus only on relevant FVGs during your chosen trading window.
- Avoid noise by filtering signals with EMA-based bias logic.
- Gain flexibility with manual bias overrides when testing strategies.
- Enhance clarity with visual overlays that mark session boundaries and highlight active zones.
Release Notes
# Sniper FVG Indicator – Quick User Guide**Sniper FVG** detects ICT Fair Value Gaps (FVGs) only within your selected trading session, filters them using the 1-hour 50 EMA market bias, and calculates position size based on your capital and risk.
**Session Start / End:** Set the trading session in IST (e.g., 1900–0140 for the US session). FVGs are detected only during this period. A dashed vertical line marks the session start and end, while the area outside the session is shaded grey.
**Bullish FVG:** Formed when the current candle's **Low > High of 2 candles ago**. Displayed in **Red** by default.
**Bearish FVG:** Formed when the current candle's **High < Low of 2 candles ago**. Displayed in **Green** by default.
**Market Bias (Default):** The indicator uses the **1-hour 50 EMA**. If price is above the EMA, the market is considered bullish and only **Bearish FVGs** (pullback opportunities) are shown. If price is below the EMA, the market is considered bearish and only **Bullish FVGs** are shown.
**Force Bias:** **NA** = Automatic EMA bias (recommended). **Bullish** = Show only Bearish FVGs. **Bearish** = Show only Bullish FVGs. **Both** = Show all FVGs regardless of trend.
**Box Extended:** Extends each FVG box to the right by the specified number of candles.
**Risk Calculator:** Enter your **Capital**, **Risk %**, **Lot Size**, and **Stoploss Price**. The indicator uses the previous candle's close as the entry price and automatically calculates the recommended trade quantity based on your maximum risk. The latest chart label displays **Quantity | Stoploss Price**.
**Recommended Workflow:** Select your trading session → Keep **Force Bias = NA** → Wait for an FVG that matches the higher-timeframe bias → Confirm the setup using your own trading strategy → Enter the stop-loss price → Use the calculated quantity for risk-managed position sizing.
Release Notes
How to Use the Sniper FVG IndicatorSet your session times
Define the trading session window in IST (India Standard Time). The chart will shade areas outside your chosen session, so you only focus on active hours.
Watch the session markers
Dashed vertical lines mark the start and end of the session. This helps you visually separate trading periods.
Understand bias detection
On the first candle of the session, the indicator compares price against higher‑timeframe EMAs (15m, 30m, 1h).
If price is above → bullish bias (shows bearish FVGs).
If price is below → bearish bias (shows bullish FVGs).
If neutral → no FVGs are drawn.
You can override this with the Force Bias input.
Identify FVG boxes
Bullish FVGs appear when the market structure suggests upward continuation.
Bearish FVGs appear when structure favors downward moves.
Boxes extend forward by the number of bars you set in “Box Extended.”
Apply risk management
Enter your capital, risk percentage, lot size, and stoploss price. The indicator calculates trade quantity automatically. Labels show position size and stoploss level on the chart.
Plan entries
Entry price defaults to the previous close. Stoploss is applied with a buffer, and the indicator distinguishes between long and short setups.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by PulseWire. Read more in the Terms of Use.