iFVG + Void Indicator Download MT5 - Free | Forex Indicator Download - MetaTrader 5 Resources

The Improved Fair Value Gap (iFVG + Void) indicator for MetaTrader 5 is an enhanced version of the Fair Value Gap “FVG” indicator.

Fair Value Gaps are formed after rapid price changes. These areas are considered key points of imbalance in supply and demand , where trends tend to return.

This MT5 Smart Money Indicator Highlights Bullish Fair Value Gap (FVG) The green box is bearish FVG and the red box is bearish FVG. In addition to automatically identifying and plotting FVGs , it also displays the consumed portion of each FVG in gray.

Indicator specification table

Indicator overview

This indicator is an upgraded version of the FVG indicator designed to more accurately identify and map implied fair value gaps.

Displaying the fraction of each consumed FVG allows traders to evaluate the effectiveness of each gap. This indicator is very useful for traders who use liquidity based price action strategies like ICT and Smart Money trading styles.

iFVG + void in uptrend

The price chart of Binance Coin (BNB) The chart on the 30 minute time frame shows how the indicator works during an uptrend.

Judging from the picture, the price encounters a green FVG box, providing a suitable entry point for long positions. Gray boxes represent invalidated FVGs , which are no longer valid.

iFVG + short in downtrend

As per the price chart for the NZD/USD currency pair on the 1 hour time frame, the price encounters the red FVG box, providing a suitable entry point for a short position. Invalid FVGs are also plotted in gray on the chart.

Indicator Settings

• Theme: The indicator theme is light color;
• Candles checked at start time: number of candles for calculating FVG equal to 1000;
• FVG object prefix: FVG object prefix;
• FVG types: FVG box type is set to normal;
• Show iFVG: Shows all valid fair value gaps;
• Show invalid iFVG: Display consumed iFVG as active;
• Display area usage percentage: Display FVG usage percentage is active;
• The area colors used by iFVG: the color of the consumed fair value gap is gray;
• Candle Close Invalid: FVG is invalid on full candle close;
• Invalid for OB size: Invalid when FVG overlaps with order block;
• Invalid OB size value: the exact size of the order block is set to 10;
• Invalid for OB unions: multiple order block connections invalidate FVG.

Conclusion

The iFVG + Void indicator is a very useful tool for MetaTrader 5. Traders using this indicator can better identify areas of liquidity.

By detecting the unbalanced area between supply and demand , the MT5 ICT indicator plots the FVG area. These zones are plotted as potential areas for trend reversal, providing optimal entry and exit points.