Fair Value Gap Void MT4
Fair Value Gap Void MT4
The Fair Value Gap and Void (FVG + Void) indicator is a powerful tool designed for ICT and Smart Money traders who aim to detect and analyze price gaps and fair value gaps (FVGs) on the MetaTrader 4 (MT4) platform. This indicator effectively pinpoints bullish imbalances, marking them with green rectangles, while bearish imbalances are displayed using brown rectangles. As price revisits these areas and begins filling the existing orders, the indicator dynamically updates to show the percentage of the zone that has been consumed. This functionality enables traders to gain deeper insights into market conditions, leading to more strategic trading decisions.
FVG + Void Indicator Table
| Category | ICT - Smart Money - Supply and Demand |
| Platform | MetaTrader 4 |
| Skill Level | Advanced |
| Indicator Type | Leading - Reversal - Momentum |
| Time Frame | Multi Time Frame |
| Trading Style | Scalping - Day Trading - Intraday Trading |
| Trading Markets | Forex - Cryptocurrencies - Indices |
Bullish FVG Detection and Utilization
On a 30-minute AUD/USD chart, the FVG + Void indicator assists traders in identifying bullish FVG zones by highlighting them in green. For instance, as the price declines toward the 0.68025 level and enters the FVG zone, the indicator tracks and visualizes the consumed portion in gray. By indicating the percentage of the zone that has been absorbed, this tool supports traders in evaluating market conditions and refining their trading strategies.
Bearish FVG Detection and Utilization
On the daily WTI Oil chart, the FVG + Void indicator highlights bearish FVG zones in brown, helping traders spot key imbalance areas. In this example, as the price ascends toward the 71.0 level and enters the FVG zone, the indicator dynamically marks the consumed region in gray. Additionally, by displaying the percentage of the zone that has been filled, traders can gain a more precise understanding of market movements and adjust their positions accordingly.
Indicator Settings
Display Settings:
- Customize the color theme of the chart and objects.
General Settings:
- Define the number of candles to analyze at the start.
- Select from six different FVG drawing models: Normal, Very Aggressive, Aggressive, Defensive, Very Defensive, and the farthest or first FVG within the trend.
FVG Settings:
- Enable or disable FVG display.
- Show invalidated FVGs.
- Display the percentage of zone consumption.
- Customize the color for the utilized FVG area.
Invalidation Settings:
- Invalidate the zone upon candle closure.
- Invalidate based on the size of the order block.
- Define invalidation criteria based on the union of order blocks.
Conclusion
The Fair Value Gap and Void (FVG + Void) indicator employs an advanced algorithm to automatically detect FVG zones, assisting traders in quickly identifying these essential market structures. By marking bullish FVGs in green and bearish FVGs in brown, this tool offers a clearer perspective on price imbalances. One of its standout features is the ability to display the percentage of a zone that has been consumed, enabling traders to make well-informed decisions based on comprehensive market analysis.
