Implied Fair Value Gap Indicator MT4 Download - Free - [Trading Search] | Forex Indicator Download - MetaTrader 4 Resources

The design of the Implied FVG indicator for MT4 is based on ICT trading style . This tool can identify price gaps that are not visible on the chart.

This MT4 ICT indicator considers two hypothetical lines 50% of the shadow of adjacent candles for each intermediate candle; the area between these hypothetical lines is called the hidden fair value gap.

A hidden fair value gap does not form if one of the adjacent shades completely overlaps the other.

Indicator specification table

Implied FVG Indicator Overview

The Implied Fair Value Gap is similar to the "FVG" but there is one key difference with the typical FVG. The gap formed between the first and third candles when spanning three candles is not included in the price.

However, a hidden fair value gap forms when the gap is covered only by the shadow of an adjacent candle.

Indicator performance in an uptrend

According to the EUR/USD currency pair 4-hour price chart , this indicator identifies the following areas of implied fair value gaps and marks them as purple boxes on the chart.

The chart shows that price turned bullish after breaking above the line with "implied FVG" and consuming liquidity .

Implied FVG indicator in downtrend

According to the USD/CAD currency pair 30-minute price chart , this indicator identifies the following areas of implied fair value gaps and marks them as pink boxes on the chart.

The chart shows that price turned bearish after breaking above the line with "implied FVG" and consuming liquidity .

Indicator Settings

• Theme : Indicator theme.

Conclusion

The area marked by the Implied Fair Value Gap indicator is very similar to the FVG, but with one difference. FVGs represent the gap between two adjacent candles, whereas "Implied FVG" forms from the 50% overlap of the shadows of two adjacent candles.