Secondary Fair Value Gap (Secondary FVG-iFVG) Indicator ICT MT4 Download - Free - MetaTrader 4 Resource

The Secondary Fair Value Gap (Secondary FVG - iFVG) indicator is a practical tool for ICT-style and Smart Money-style traders, helping them identify imbalance zones and Fair Value Gap (FVG) in the MetaTrader 4 (MT4) platform. The indicator shows bullish FVG zones in green and bearish FVG zones in brown, showing traders’ key market areas. As these areas are consumed, the rectangular areas gradually shrink and eventually disappear from the chart, providing traders with accurate information about market conditions and changes.

Second-hand FVG indicator table

Indicators at a glance

The Secondary Fair Value Gap (Secondary FVG-IFVG) indicator is a specialized tool to identify FVG and IFVG zones . Traders can easily detect these areas using this indicator and base their analysis on them.

Furthermore, by showing the consumed portion in these areas, this indicator can help traders perform more precise analysis of these areas , market status and price gaps .

FVG identification and consumption

In the 30-minute GBP/USD chart, the Used FVG-iFVG indicator su

FVG zones are successfully identified and displayed in green. These areas indicate market imbalance . When price moves back into these areas, it begins to consume the imbalance. If price enters this area completely, the FVG rectangle is fully consumed, signaling a shift in buying and selling pressure in the market.

iFVG identification and consumption

In the 5-minute USD/JPY chart, the Used FVG-iFVG indicator successfully identifies the iFVG zone and initially appears green. After breaking this area, it will become brown . When price returns to this area, it continues to consume the imbalance and eventually, the iFVG rectangle is almost completely consumed. This behavior signals changes in buying and selling pressure in the market.

Indicator Settings

Display Setting: Display settings

• Color themes for charts and objects: chart theme selection

General Setting: General settings of the indicator

• Candles to check at start time: Set the number of past candles to check.
• FVG Types: Set the FVG plot type to 6 models: Normal , Very Aggressive , Aggressive , Defensive , Very Defensive , and the farthest or first FVG in the same trend .
• Show FVGs: Enable/disable the display of FVGs.
• Show last FVG: Enable/disable the display of the last FVG.
• Update last displayed FVG: When a new FVG forms, the last FVG is removed and the new area is considered the last FVG.
• Show iFVGs: Enable/disable the display of iFVGs.
• Show last iFVG: Enable/disable the display of the last iFVG.
• Update it when the last iFVG is shown: when a new iFVG is formed, the last iFVG is deleted and the new area is considered the last iFVG.
• Candles invalid at close: Closing candles are invalid.
• Invalid for OB size: Invalid based on order block size.
• Invalid OB size value: Invalid based on order block size.
• Invalid for Void mode: Invalid in void mode.

Conclusion

The Secondary Fair Value Gap (Secondary FVG - iFVG) indicator helps ICT and Smart Money traders looking to identify areas of market imbalance . The indicator identifies areas with price gaps , drawing FVG and iFVG as colored rectangles on the chart. As these areas are consumed, the rectangle gradually shrinks and disappears from the diagram.