Used Fair Value Gap indicator MT5
- Индикаторы
- Eda Kaya
- Версия: 1.11
- Активации: 10
Modified Fair Value Gap (FVG) Indicator for MT5
The Modified Fair Value Gap (Modified FVG-iFVG) indicator is a sophisticated and efficient tool designed for ICT and Smart Money traders, optimized for the MetaTrader 5 (MT5) platform. This indicator detects and marks market imbalance areas (FVG), highlighting key supply and demand zones. Bullish FVG zones are displayed in green, while bearish FVG zones appear in brown. As the price revisits these levels, the indicator dynamically updates by progressively reducing the size of the marked zones to reflect the consumption of the imbalance. This function assists traders in pinpointing critical market areas and making strategic trade entry or exit decisions. The Modified FVG-iFVG indicator is instrumental in assessing supply and demand strength and spotting potential price reversals within imbalance regions, which are fundamental concepts in ICT and Smart Money trading strategies.
Modified FVG-IFVG Indicator Overview
Category | ICT - Smart Money - Supply and Demand |
Platform | MetaTrader 5 |
Skill Level | Advanced |
Indicator Type | Leading - Reversal - Strength |
Time Frame | Multi Time Frame |
Trading Style | Scalping - Day Trading - Intraday Trading |
Trading Markets | Forex – Cryptocurrencies - Indices |
FVG Recognition
On a 15-minute USD/CAD chart, the Modified FVG-iFVG indicator highlights bearish FVG zones using orange rectangles. Once the price returns to these zones, the imbalance consumption process initiates. The indicator automatically adjusts the marked areas by progressively narrowing them, offering traders a visual representation of the consumption process. This functionality enables ICT and Smart Money traders to accurately locate entry and exit points, enhancing their utilization of imbalance zones.
iFVG Recognition
On a 1-hour NZD/CAD chart, the Modified FVG-iFVG indicator marks bullish iFVG zones in green, helping traders identify imbalance zones efficiently. Initially, FVG zones are colored brown but later transition to green iFVG zones, signaling critical price areas that could prompt reversals. When the price re-enters these zones, the consumption process is initiated, with the indicator reducing the size of imbalance rectangles, illustrating the consumption progress. This feature allows traders using ICT and Smart Money concepts to track imbalance shifts and price fluctuations more precisely, leading to improved decision-making.
Modified FVG-iFVG Indicator Configuration
Display Settings: Customize display options
- Chart and object color theme selection
General Settings: Configuration of basic parameters
- Number of candles to analyze at startup
- Selection of FVG types from six models: Normal, Very Aggressive, Aggressive, Defensive, Very Defensive, First FVG in the trend, or Furthest FVG
- Toggle FVG display on/off
- Enable/disable last FVG display
- Auto-update last FVG when a new one forms
- Toggle iFVG display on/off
- Enable/disable last iFVG display
- Auto-update last iFVG when a new one forms
- Invalidation conditions: closing candle, order block size, void mode
Conclusion
The Modified Fair Value Gap (Modified FVG-iFVG) indicator simplifies the identification of FVG and iFVG zones by automatically marking bullish and bearish imbalances with green and brown rectangles. As the price revisits these zones, the indicator dynamically narrows the rectangles, visually demonstrating the consumption of the imbalance. This capability enables ICT and Smart Money traders to effectively track market movements and make more informed trading choices based on evolving market conditions.