Forex FVG Indicator MT4

Description

• Displays both bullish and bearish FVG (fair value gaps).
• Option to display only bullish or bearish FVG
• Option to set a minimum size for highlighted FVG
• FVG highlight lines change when a FVG has been mitigated.
• Adjust how many candles to look back on for FVG.
• Adjust the length of the FVG highlight lines.
• Alert Delay: Enter a number (of candles) from the highlighted FVG to delay the alert.
• Alerts to Popup, Push, and Email

Fair Value Gaps MT4 Indicator

 

• === FVG Settings ===
• Display FVG Option: You can show:
  • Both bullish and bearish FVG
  • FVG that is bullish only
  • Bearish FVG only
  • Hide all FVG
• Size of the FVG in points Choose the dimension (in points) to highlight an FVG (0 = all).
• The bullish color of the FVG zone Choose the color you want to use.
• Beadish Color for FVG ZoneChoose the color you want to use.
• FVG area length If set to zero (zero), it will mean that the FVG lines will be extended all the way to the current candle. If a different number is selected, FVG lines that are of fair value will stretch the number of candles in the direction of the right FVG.
• Lines Style Choose the style of FVG lines (solid dot, solid, etc.).
• “Look-back” Candle Count: Set the number of candles the indicator will be looking back at to highlight FVG’s
• Display a look-back line. Choose the true or false option to show the look-back line in the chart.
• The Look-Back Line ColorChoose the color you want to use.
• === Alert Settings ===
• Alert Pop-up Alert will open a popup window as well as an alert sound.
• Alert email This will cause a notification at your address.
• Alert Push Notification: Alert will trigger a text message that is sent to your cell phone.
• Alert Delay (candle count) (candle count)Enter the amount (of candles) from the highlighted FVG in order to slow the trigger of the alert (IE If you enter 3, it will not start if the price reaches the FVG within the first 3 candles following the FVG.

A brief refresher course on fair value gaps

• Fair value gaps (FVG) are when you can see price imbalances in one part of the market.
• Fair value gaps can also be called ‘price imbalance’ or “market inefficiency.”
• The price is only moved to find liquidity. Markets are always looking to combine orders (buys or sells) in a similar way in order to improve the highest efficiency of the market (and because smart money has so much money to invest, they must put orders on every pip that they are able to).

 

Market Efficiency: A fair mix of buyers and sellers from both ends of the marketplace

If you observe a lot of buyers and sellers grouped together, there will be a lot of candles that overlap (bodies or wicks), like in the image above. This is calledmarket efficiency’.

FVG, or fair value gaps (FVG), occur when the price is able to move quickly away from an existing order.

• They are a sign that smart money’ is present on the market.

 

What exactly is the term “fair value gap”? A fair value gap?

If you are in an inefficient market (a green candle that has no opposition red candle, or in reverse), as well as the candles that are on each other (including their candles), don’t complete the gap.

In the end, market makers will decide to go back to these unproductive markets and make them more efficient.

It is important to note that this does not always happen in a flash. On longer timelines (Daily+), this could require days, weeks, or years! (But for the scalping and intraday timeframes, the process is generally more rapid.).

 

These same guidelines apply for FVG’s with order blocks (they must be at the 50 percent threshold). The price should be able to respond from opening until the 50% mark of the FVG.

 

If price fills the whole fair value gap that usually means it was aiming for the order block above/below the FVG:

Indicator Display Options:

 

Option to display only bullish or bearish FVG’s (or both):

 

Mitigated FVG’s will highlight with a thicker line when price touches the FVG:

 

Highlighted FVG’s disappear from the chart when price moves all the way through them:

 

Option to set a minimum size for highlighted FVG’s. Select a minimum size (in Points) to highlight a FVG (0 = all):

 

Adjust the length of the FVG lines. If set to 0 (zero) the FVG lines will extend all the way to the current candle, if any other number is used the FVG lines will extend that amount of candles to the right of the FVG:

 

Alert Delay – Enter a number (of candles) from the highlighted FVG to delay the alert.

IE: if set to 3, the alert will not trigger if price touches the fair value gap in the first 3 candles after the FVG: