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Fair Value Gap Sniper MT4

Fair Value Gap Indicator for MetaTrader 4.

A Fair Value Gap is a three-candle price action pattern taught by the famous smart money trader the inner circle trader aka ICT. Basically, it's a gap left open on the chart when the price moves too fast. It is an area of the middle candle's body that doesn't get ticks overlapped by the left candle and the right candle next to it. When the price leaves a gap on the chart, we could keep two things in mind. One, the price has a really strong momentum to go in that direction, and two, the price would usually retrace to fill the gap before it goes in that direction.

Fair Value Gaps are most commonly used amongst price action traders and are defined as instances in which there are inefficiencies, or imbalances, in the price delivery. This inefficiency can become a magnet for price in the future to rebalance this price imbalance as there are many resting orders that didn't get filled before. A trader can use this information to target a fair value gap, or to look for a potential entry for a long/short making it a good POI.

Features

  • Mark all the Fair Value Gap / FVG / Price Imbalance on the chart clearly, all colors are customizable. 
  • Display the areas that have already been rebalanced.
  • Alert when price gets into a fair value gap for a potential entry.

Inputs

Variable Value
 number of bars to look back(0 = all bars)   any number
 color of bullish FVGs  any color
 color of bearish FVGs  any color
 show rebalanced area of FVGs  true/false
 color of rebalanced area   any color
 show alerts when price enters a FVG  true/false
 push notification to mobile or email  true/false
 entry type of the alert  buy only/sell only/both buy and sell

MT5 version

https://www.mql5.com/en/market/product/89042


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Version 1.41 2024.01.17
added "number of look back bars" for better performance.
Version 1.30 2023.11.21
- Now you can see the fair gap value in the data window.
Version 1.20 2023.10.11
- Fixed a bug.
Version 1.10 2023.09.04
- Added push notification feature
- Included the current symbol and timeframe in the alert text
- Added alert type option