Used Fair Value Gap indicator MT4
- Indicadores
- Eda Kaya
- Versión: 1.11
Used FVG (Used FVG-iFVG) indicator
is a valuable tool designed for ICT and Smart Money traders, aiding them in detecting price imbalances and Fair Value Gaps (FVG) on the MetaTrader 4 (MT4) platform. This indicator highlights bullish FVG zones in green and bearish FVG areas in brown, allowing traders to pinpoint crucial market levels. As these zones are gradually filled, the rectangular markers shrink and eventually vanish from the chart, providing a clear representation of market shifts and structural changes.
Used FVG Indicator Overview
Category | ICT - Smart Money - Supply and Demand |
Platform | MetaTrader 4 |
Skill Level | Advanced |
Indicator Type | Leading - Reversal - Strength |
Time Frame | Multi-Time Frame |
Trading Style | Scalping - Day Trading - Intraday Trading |
Markets | Forex - Cryptocurrencies - Indices |
FVG Identification and Utilization
On a 30-minute GBP/USD chart, the Used FVG-iFVG indicator effectively detects and marks FVG zones in green, signaling price imbalances. When the price revisits these zones, the imbalance begins to resolve. If the price fully enters the marked area, the FVG rectangle disappears, indicating a shift in buying and selling pressures within the market.
iFVG Identification and Utilization
On a 5-minute USD/JPY chart, the Used FVG-iFVG indicator identifies an iFVG zone, initially appearing in green. Once the price breaks through, the color transitions to brown. As price action returns to this zone, the imbalance diminishes, and the iFVG rectangle gradually shrinks. This process serves as an indication of changing market sentiment and shifting liquidity.
Indicator Configuration
Display Settings:
- Chart and Object Color Theme: Allows customization of chart themes.
General Settings:
- Candles to Analyze at Initialization: Sets the number of past candles to scan.
- FVG Types: Choose from six drawing models: Normal, Very Aggressive, Aggressive, Defensive, Very Defensive, and either the Furthest or First FVG within a trend.
- Toggle FVG Display: Enable/disable the visualization of FVGs.
- Show Last FVG: Enable/disable visibility of the most recent FVG.
- Auto-Renew Last FVG: The last FVG is removed when a new one forms.
- Toggle iFVG Display: Enable/disable the visualization of iFVGs.
- Show Last iFVG: Enable/disable visibility of the most recent iFVG.
- Auto-Renew Last iFVG: The last iFVG is removed when a new one forms.
- Invalidation Settings: Configure conditions for invalidating FVGs based on candle close, order block size, or void mode.
Conclusion
The (Used FVG-iFVG) indicator is a highly effective tool for traders focused on Smart Money concepts. By identifying areas of price imbalance, this indicator plots FVG and iFVG zones on the chart as colored rectangles. As price action absorbs these gaps, the marked areas diminish and eventually disappear, helping traders interpret market dynamics with precision.