Secondary Fair Value Gap (Secondary FVG-iFVG) Indicator Download for MT5 ICT - Free - MetaTrader 5 Resource

The Secondary Fair Value Gap (Secondary FVG-iFVG) indicator is an advanced and practical tool for ICT-style and Smart Money-style traders designed for the MetaTrader 5 (MT5) platform. This indicator identifies and maps market imbalance zones (FVG) , showing key areas of supply and demand. Bullish FVG zones are marked green, and bearish FVG zones in brown.

When the price returns to these areas, the indicator automatically displays unbalanced consumption by gradually shrinking the rectangular area. This feature helps traders better identify key areas and make more informed decisions about entering or exiting trades.

The Used FVG-iFVG indicator plays a crucial role in determining potential price reversals in areas of imbalance between supply and demand strength , which is a key feature of ICT and smart currency trading styles.

Second-hand FVG-IFVG indicator table

Indicators at a glance

The Secondary Fair Value Gap (Secondary FVG-IFVG) indicator simplifies identifying FVG and IFVG zones by marking these area boxes on the chart. Traders can easily identify these areas using this indicator.

It highlights bullish FVG and IFVG zones in green and bearish zones in brown , providing traders with valuable assistance in their analysis.

FVG Identification

The 15-minute USD/CAD chart, the Used FVG-iFVG indicator identifies and displays bearish FVG zones as orange rectangles. When price returns to these FVG areas, the consumption process begins. The indicator automatically displays consumption in these areas through gradually shrinking rectangles, providing traders with a visual representation of the consumption process. This feature helps ICT and Smart Money traders accurately identify key entry and exit points and better exploit imbalanced areas.

iFVG Identification

In the 1-hour NZD/CAD chart, the Used FVG-iFVG indicator identifies and displays bullish iFVG zones in green, helping traders identify imbalance zones . The indicator marks FVG areas in brown and then converts them into green iFVG areas, informing traders of key price areas that could lead to reversals.

When the price returns to these areas, the consumption process begins and the indicator shrinks the imbalance rectangle, showing the consumption volume. This visual feature allows ICT and Smart Money traders to track imbalances and price changes more efficiently and make better trading decisions.

FVG-iFVG indicator settings used 4-hour XAUUSD chart

Display Setting: display setting selection

• Color themes for charts and objects: Select a chart theme.

General Settings: General settings

• Candles to check at start time: Select the number of candles in the past to check.
• FVG Types: Select the FVG plot type from 6 models: Normal , Very Aggressive , Aggressive , Defensive , Very Defensive , or the farthest FVG or the 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.
• OB size value is invalid: According to the order block size value is invalid.
• Invalid for Void mode: Invalid in void mode.

Conclusion

The Used Fair Value Gap (Used FVG - iFVG) indicator, with green rectangles indicating bullish imbalances (FVG) and brown rectangles representing bearish imbalances (iFVG) , helps traders easily identify FVG and iFVG zones on the chart without manual searching. When price returns to these potential areas, the indicator gradually shrinks the rectangle to show imbalanced consumption.

This feature allows ICT and Smart Money traders should carefully monitor consumption in these areas and make more informed trading decisions based on market changes.