TradingView
MetaTrader4
MetaTrader5
The Fair Value Gaps Setup 01 indicator is designed to identify price gaps in TradingView indicator trading charts.
These gaps indicate a Change of Character (CHOCH) in price and are more valid near key support and resistance levels.
Fair Value Gaps Setup 01 Indicator Specifications
The general specifications and features of the "Fair Value Gaps Setup 01" indicator are shown in the table below:
| Category | ICT - Smart Money - Liquidity |
| Platform | TradingView |
| Skill Level | Advanced |
| Indicator Type | Reversal - Continuation |
| Timeframe | Multi Timeframe |
| Trading Style | Intraday Trading |
| Market | All Markets |
Uptrend Scenario
The following price chart shows the USD/JPY currency pair on the daily timeframe. A Fair Value Gap (FVG) is formed when a strong upward move creates a price gap between candles.
This area usually acts as a support level, where the price tends to retest and correct the imbalance. A buy signal is confirmed when the price returns positively to this area after breaking the last high, accompanied by increased trading volume.
Downtrend Scenario
In the 15-minute chart of Gold (XAU/USD), market character changes, and the FVG bearish retracement occurs when the price, under high selling pressure, breaks below the previous low and breaks the FVG area downward.
This scenario signals the strength of sellers and the market's tendency to continue moving lower.
Indicator Settings
Image below shows the settings of the Fair Value Gaps Setup 01 Indicator:
Market Structure
- Pivot Period of Market Structure Detector: Determines the pivot period for market structure detection
- Show Major Bullish ChoCh Lines: Displays major bullish ChoCh lines
- Show Major Bearish ChoCh Lines: Displays major bearish ChoCh lines
FVG
- FVG Detector Multiplier Factor: Multiplier factor for detecting Fair Value Gaps
- FVG Validity Period (Bar): The validity period of FVG (bars)
- Mitigation Level FVG: The mitigation level of FVG
- Show Demand FVG: Displays demand-based Fair Value Gaps
- Show Supply FVG: Displays supply-based Fair Value Gaps
- FVG in Low-Risk Zone: Identifies FVGs in a low-risk zone
Alert
- Alert: Enables notifications
Alert Settings
- Alert Name: Name of the alert
- Message Frequency: Frequency of alert messages
- Show Alert Time by Time Zone: Displays alert time based on time zone
Messages
- Long Position Message: Display Message for a long position
- Short Position Message: Display Message for a short position
Conclusion
The Fair Value Gaps Setup 01 Indicator visually displays CHOCH (Change of Character) and FVG zones in ICT and Smart Moneymethods using colored lines on the chart.
CHOCH indicates a market character change and trend shift.FVG highlights price imbalance zones, serving as key entry and exit points.
In which timeframe does the Fair Value Gaps Setup 01 Indicator work?
This tool is applicable in multiple timeframes.
Is this indicator only usable in Forex markets?
No, the Fair Value Gaps Setup 01 Indicator applies to all financial markets, including cryptocurrency, stocks, commodities, and Forex.