Evaluating the V DOL FVG TradingView Indicator for Systematic Strategies

I pulled the listing on TradingView. The public material is thin boilerplate, but the publishing format alone signals where retail tooling has landed.

Why open-source matters more than the indicator

TradingView's House Rules still apply, yet the creator opted into full transparency. That is the entire pitch for me. I can read every line, stress-test the V-shape DOL detection logic, and see whether the FVG filter adds real confluence or just decorates the chart. If the code holds up across regimes, it slots into a backtest harness. If not, I delete it and move on. No subscription fee, no Telegram room, no "masterclass."

Mixed signals as a reality check

MarketsMojo's latest read on Maruti Suzuki India is a clean case study in why single-indicator trading is a math error. Price closed at ₹13,942.25, up from ₹13,804.15, with an intraday range of ₹13,660.40 to ₹13,975.00 — still well below the 52-week high of ₹17,371.60 and comfortably above the ₹12,202.10 low. Daily moving averages are mildly bearish. Weekly MACD is mildly bullish; monthly MACD is mildly bearish. RSI is neutral on both timeframes. Bollinger Bands lean bullish weekly, mildly bullish monthly. OBV is mildly bearish weekly, bullish monthly. Dow Theory splits identically. Every oscillator is arguing with the next one.

This is what probability-matrix territory actually looks like. Sample size is thin, confluence near zero, and anyone firing a trade off a single reading is trading pure noise — likely setting themselves up for mean reversion against the position. Maruti outperformed the Sensex 2.92% to 1.17% over the past week and 3.82% to 1.21% over the past month, which confirms momentum exists. It just refuses to confirm cleanly on any one indicator.

What I'd verify before wiring it in

Three checks, in order. Hit rate on V-shape DOL detection across at least five years and multiple liquid instruments — not one symbol, not one regime. Maximum drawdown when the signal fires counter-trend. And whether stripping the FVG component degrades the backtest at all. If removing it changes nothing, the FVG layer is cargo cult code dressed in ICT jargon.

For a parallel look at how real-world momentum deteriorates underneath the chart, Polestar's quarterly sales volumes sliding ahead of a likely US exit is the kind of fundamental pressure no indicator front-runs cleanly. Edge comes from stacking confluence across structure, volume, and regime — not from one script with a slick name.