FVG & IFVG Indicator for MT5 - Free - [TradingFinder]

The Fair Value Gap (FVG) indicator for the MetaTrader 5 trading platform is a unique tool for identifying essential liquidity zones based on the ICT trading strategy. FVGs typically form after sharp, one-sided price movements, where, due to rapid volatility, some prices still need to be filled. As a result, prices tend to return and fill these unfilled zones.

Indicator Specifications Table

Bullish Trend Conditions

According to the EUR/USD price chart in the 4-hour timeframe, the bearish Fair Value Gap (IFVG) zone marked in red is broken by an upward price movement and changes to green, turning into a support zone. The price returning to this zone provides a suitable opportunity to enter buy positions (Long Position).

Bearish Trend Conditions

In the 1-hour Silver vs. USD (XAG/USD) chart, the red box represents a bearish Fair Value Gap (FVG). As shown in the chart, the price returns to the FVG zone after a downtrend. In such conditions, traders can enter sell positions (Short Positions) after analysis.

Indicator Settings

• Color theme of chart and object: Theme settings;
• Candles to check at start time: Number of candles for calculating the zones, set to 1000;
• The prefix for FVG objects: Naming prefix for objects;
• FVG Types: Type of FVG zones;
• Show FVGs: Setting for displaying FVGs;
• Show last FVG: Display the last FVG;
• Renew Last FVG when it is on Show Last: Renew the last FVG when displayed;
• Show iFVGs: Setting for displaying IFVGs;
• Show last iFVG: Display the last IFVG;
• Renew the Last iFVG when it is on Show Last: Renew the last IFVG when displayed;
• 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 Order Block size for invalidation.

Conclusion

The Fair Value Gap (FVG) & Improved FVG (IFVG) indicator are among the most useful tools for traders following the ICT and Smart Money strategies. Automatically identifying and drawing key price reversal zones speeds up and simplifies the chart analysis.

Prices tend to return to these unfilled zones to collect pending orders. With proper analysis and leveraging the reversal opportunities in these areas, traders can find suitable entry points for trades.