This gives the user the ability to easily display VIB(Volume ImBalances) and GIB(Gap ImBalances) on their chart.
Volume imbalances (VIB) are created when there is a price difference between the close of a candle and the opening of the next candle. This price difference can be used as a level of support or resistance in future trading.
A Gap imbalance (GIB) has the same principles as a VIB, but also has the feature that no wick closes through the gap, showing an even more powerful imbalance in the market at that point.
GIBs and VIBs can be individually switched on or off via the settings, and optional icons can also be activated or not to show where the imbalance took place.
Please note that this is purely an indicator that should be used with other confluence before making trading decisions.
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- Fixed bugs related to missed gaps - Corrected coding issue with bull / bear
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Minor naming convention updates
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Bug fix related to issue when the wick = close price
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v1.4 just includes more cats.
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V1.5 - Corrected GIB indicator
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v1.6 : Correction in code going from Bull-> Bear candles
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v1.7 : Added the option to lighten or darken borders
@FlatFaceCat Sir, Is there any future Improvement? Thanks mate
shakey_op
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Nice indicator thanks, it would look a lot nicer though if the border of the gap was transparent so just the fill colour showed if you know what i mean. Cheers
FlatFaceCat
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@shakey_op, I added an option in v1.7 that can adjust the lightness / darkness of the border. It is now set to 100 so you cannot see the border. Make the number smaller if you want it darker. Meow
shakey_op
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@FlatFaceCat, Bro thanks so much. Looks amazing now. <3
Mo_Hoo110
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Thanks for sharing it. I am using the TF 5M but it does not detect a great deal of them. Also would you be able to update it based on the rule that they close after cadles run/close through them?
Benadjoh
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Love the cats! I added the VIB / GIB on my ES M5 and M1 charts with other indicators and the cats appear to confirm my buy and sell signals. I would like to understand the logic though; is it explained somewhere? Maybe a video or post? If not, would you please share the logic here? Thx!
FlatFaceCat
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@Benadjoh, Hi there, no one truly understands the wisdom of cats, but in the end, you need think of the market like a cat, and GIBs and VIBs like catnip and tuna. Cats like catnip and tuna. The market loves GIBs and VIBs.