FVG Fair Value Gap MT5
- Indicadores
- Lee Guan Chuan
- Versão: 1.0
FVG Fair Value Gap is an indicator that plot rectangle for last found fair value gap. There will be a total of eight fair value gaps. Four is bullish fair value gaps and another four is bearish fair value gaps.
Bullish Fair Value Gaps
Top Bullish/Bearish Fair Value Gap is the gap that will obey the "Recent candles" and "Nearby Size In Pips" parameters. This fair value gap will be above current price. Bottom Bullish/Bearish Fair Value Gap is the gap that will obey the "Recent candles" and "Nearby Size In Pips" parameters. This fair value gap will be below current price. Recent Top Bullish/Bearish Fair Value Gap is the highest possible gap which above current price but below "Top Bullish/Bearish Fair Value Gap". Recent Bottom Bullish/Bearish Fair Value Gap is the lowest possible bullish/bearish fair value gap which below current price but above “Bottom Bullish/Bearish Fair Value Gap”.
Parameters
These are the parameters of the EA.
1) Bullish FVG Color – Rectangle color for bullish FVG
2) Bearish FVG Color - Rectangle color for bearish FVG
3) Fill Rectangle Color – Set this to “false”, the indicator will draw border only. Set this to “true”, the indicator will draw the rectangle and fill it with color.
4) Draw Rectangle As Background – Set this to “true”, the indicator will draw the rectangle as background and set this to “false”, the indicator will draw it otherwise.
5) Recent Candles – By setting this candles, it will find the main fair value gaps for bullish and bearish after this candles.
6) Nearby Size In Pips – If the fair value gaps too near to current price, the indicator will ignore that as main fair value gaps.
7) Gap Size In Pips – This is the minimum pip size of the fair value gaps