FVG and IFVG Indicators for MT5 - Free | Forex Indicators Download - MetaTrader 5 Resources

Fair Value Gap (FVG) indicator on the MetaTrader 5 trading platform is one of the MT5 ICT indicators used to identify key liquidity zones. FVGs usually form after sharp, one-way price movements, where, due to rapid volatility , part of the price still needs to be filled. Therefore, prices tend to move back up and fill these empty areas.

Indicator specification table

Indicators at a glance

The FVG and IFVG areas create suitable opportunities to enter trading positions during price reversals.

With its ability to automatically identify and plot fair value gap areas , this indicator adds speed and accuracy to chart analysis, eliminating the need for traders to manually identify these areas. FVG zones are considered one of the key price reversal levels in Inner Circle Trader and Smart Money trading strategies.

bullish trend conditions

According to the EUR/USD price chart on the 4-hour time frame , the bearish fair value gap (IFVG) area marked in red was broken by the price increase and turned green, turning into a support zone. Price returns to this zone providing a suitable entry opportunity for a buying position (long position) .

Bearish trend conditions

In the 1-hour Silver/USD (XAG/USD) chart, the red box represents the bearish fair value gap (FVG) . As shown, the price returned to the area following the FVG downtrend. In this case, traders can enter a sell position (short position) after analysis.

Indicator Settings

• Color themes for charts and objects : Theme settings;
• Candles checked at start time : number of candles used to calculate the area, set to 1000;
• Prefix of FVG object : naming prefix of the object;
• FVG Types : FVG area types;
• Show FVGs : Display FVG settings;
• Show last FVG : Show the last FVG;
• Update the last displayed FVG when it is in the last displayed state : Update the last FVG when displayed;
• Show iFVGs : Display IFVG settings;
• Show last iFVG : Show the last IFVG;
• Update the last iFVG when it is in Show Last : Update the last IFVG when shown;
• Invalid when the candle closes : The area is invalid when the candle closes;
• Invalid for OB size : Invalid according to order block size;
• Invalid OB size value : Set invalid order block size.

Conclusion

The Fair Value Gap (FVG) and Improved FVG (IFVG) indicators are among the most useful tools for traders using ICT and Smart Money strategies. Automatically identifying and plotting key price reversal areas speeds up and simplifies chart analysis.

Prices tend to return to unfilled levels as zones collect pending orders. With proper analysis and taking advantage of reversal opportunities in these areas, traders can find the right entry to trade points. Furthermore, this tool is a liquidity indicator , and the areas outlined by this indicator represent high potential liquidity areas.