FVG Fair Value Gap Zones MT5

FVG Zones marks three-candle Fair Value Gaps (FVG) on the chart and draws each gap as a shaded zone that extends to the right until price comes back and fills it. Gaps can be taken from the chart timeframe or from a higher timeframe.

Main features

  • FVG detection from closed candles only, so a zone does not appear and disappear while a bar is still forming.
  • Detection on the chart timeframe or on a higher timeframe, for example H1 gaps on an M5 chart.
  • Two size filters that can be combined: minimum size in points and minimum size in percent of the ATR.
  • Three fill rules (Full, Half, Touch), checked on every tick against the high and low of the current bar.
  • Filled zones can be deleted, kept in a faded color or kept in the original color.
  • A limit for the number of open zones; when it is reached, the oldest open zone is removed.

How to read it

A bullish FVG is formed when the low of the third candle is above the high of the first candle; the zone runs from the high of candle 1 to the low of candle 3. A bearish FVG is the mirror image. Green zones are bullish gaps, red zones bearish gaps. A zone starts at the middle candle and stays open until price fills it according to the selected rule. In the default mode, filled zones stay on the chart in a faded color and end at the bar that filled them, so you can see how price reacted to earlier gaps. For a cleaner live chart, choose Delete. To see two timeframes at once, attach the indicator a second time with another prefix and other colors.

Main inputs

  • Detection timeframe: chart timeframe (default) or a higher timeframe.
  • Lookback bars on the detection timeframe: 500.
  • Minimum gap size in points: 0 (any size); minimum gap size in % of ATR: 0 (off); ATR period: 14.
  • Fill rule: Full.
  • Max number of open zones: 50 (0 = unlimited).
  • Filled zones: Keep (faded color); open zones extend 5 bars past the current bar.
  • Alert popup, push notification and sound (all off by default) and the sound file.
  • Object name prefix, for running several instances on one chart.

Notes and limits

  • Gaps found in history when the indicator loads do not trigger alerts.
  • No DLLs, no external files and no indicator buffers are used. All objects are removed with the indicator.
  • Fair Value Gaps describe price structure. They are not a trading signal on their own; use them with your own analysis and risk management.

This tool does not trade.

Part of the MT5Bots tool set.

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