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Fair Value Gap Sniper MT4

59 USD

Demo downloaded: 137

Published: 14 November 2022

Current version: 1.41

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Overview
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What's new

Fair Value Gap Sniper MT4

Indicators
Zhi Wen Software Development
Version: 1.41
Updated: 17 January 2024
Activations: 10

Fair Value Gap Indicator for MetaTrader 4.

A Fair Value Gap is a three-candle price action pattern taught by the famous smart money trader the inner circle trader aka ICT. Basically, it's a gap left open on the chart when the price moves too fast. It is an area of the middle candle's body that doesn't get ticks overlapped by the left candle and the right candle next to it. When the price leaves a gap on the chart, we could keep two things in mind. One, the price has a really strong momentum to go in that direction, and two, the price would usually retrace to fill the gap before it goes in that direction.

Fair Value Gaps are most commonly used amongst price action traders and are defined as instances in which there are inefficiencies, or imbalances, in the price delivery. This inefficiency can become a magnet for price in the future to rebalance this price imbalance as there are many resting orders that didn't get filled before. A trader can use this information to target a fair value gap, or to look for a potential entry for a long/short making it a good POI.

Features

Mark all the Fair Value Gap / FVG / Price Imbalance on the chart clearly, all colors are customizable.
Display the areas that have already been rebalanced.
Alert when price gets into a fair value gap for a potential entry.

Inputs

Variable	Value
number of bars to look back(0 = all bars)	any number
color of bullish FVGs	any color
color of bearish FVGs	any color
show rebalanced area of FVGs	true/false
color of rebalanced area	any color
show alerts when price enters a FVG	true/false
push notification to mobile or email	true/false
entry type of the alert	buy only/sell only/both buy and sell

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Version 1.41 2024.01.17

added "number of look back bars" for better performance.

Version 1.30 2023.11.21

- Now you can see the fair gap value in the data window.

Version 1.20 2023.10.11

- Fixed a bug.

Version 1.10 2023.09.04

- Added push notification feature
- Included the current symbol and timeframe in the alert text
- Added alert type option