FVG & IFVG Indicator for MT4 Download - Free - [TradingFinder]

The Fair Value Gap (FVG) and Improved Fair Value Gap (IFVG) indicator for MetaTrader 4 is a combination of two significant liquidity zones used in the ICT (Inner Circle Trader) trading strategy.

Fair Value Gaps typically form after rapid price movements, where due to significant volatility in certain areas, prices don't fill. Hence, prices tend to return to these areas. Improved Fair Value Gaps (IFVG) are formed similarly, but these zones change roles (Fillip) after a breakout.

Indicator Specifications Table

Indicator Performance in Bullish Trend

According to the AUD/USD price chart in the 4-hour timeframe, the bearish IFVG zone changes from red to green after being broken by the trend. In such conditions, the zone changes its role from resistance to support, and after the price returns to this zone, it creates a suitable opportunity to enter buy positions (Long Position).

Indicator Performance in Bearish Trend

As seen in the Polkadot (DOT) price chart in the 1-hour timeframe, the bullish IFVG zone changes from green to red after being broken. Its role switches from a support zone to a resistance zone. As the price returns to the IFVG zone and touches it, it creates a suitable opportunity to enter sell positions (Short Position).

Indicator Settings

• The color theme of chart and object: Chart and object theme settings;
• Candles to check at start time: Number of candles to check for zone formation, set to 1000;
• The prefix for FVG objects: Naming prefix for objects;
• FVG Types: Type of FVG zones;
• Show FVGs: Setting to display FVGs;
• Show last FVG: Display the last FVG;
• Renew Last FVG when it is on Show Last: Renew the last FVG when shown
• Show iFVGs: Setting to display IFVGs;
• Show last iFVG: Display the last IFVG;
• Renew the Last iFVG when it is on Show Last: Renew the last IFVG when shown
• Invalid with candle close: Invalidate zones upon candle close;
• Invalid with OB size: Invalidate based on Order Block size;
• Invalid with OB size value: Set the size value of the "Order Block" for invalidation.

Conclusion

The FVG and IFVG indicators automatically draw two of the most important price reversal zones, which help traders identify opportunities. Price tends to return to these zones to collect pending orders. Traders can use these zones to identify suitable entry points when the price reverses.