ICT Fair Value Gap and Imbalance Engine

Marks every three bar fair value gap on the chart, draws the 50% equilibrium line in each, and tracks when price fills it.

FEATURES

• Bullish and bearish gaps on any timeframe, fixed at the third candle close.
• The 50% Consequent Encroachment line in each gap.
• Trim, delete, dim or keep the box when it fills.
• Optional popup, push and sound alert on an active gap.

HOW TO USE

1. Attach it to a chart.

2. Set the lookback bars, the minimum gap size and fill behaviour.

PARAMETERS

InpLookbackBars, InpMinGapPoints, InpMitigationMode, InpShowCE, InpExtendBars, the colours.

LIMITATIONS

• The minimum gap size is in points, so it differs per symbol.
• Gaps are measured on the chart's own timeframe only.
• It draws and measures. It places no orders.

COMPATIBILITY

Any symbol and timeframe. Native MQL5, no DLLs.

SUPPORT

Questions through the MQL5 message system. First reply within two working days.

Combine with ICT Sessions: Use in confluence with our free ICT Asian London NY Sessions indicator for killzone setups.

PARAMETERS IN DETAIL

• InpLookbackBars: how many historical candles are scanned. Default 300.
• InpMinGapPoints: the smallest gap, in points, that counts as a gap. 0 detects every gap.
• InpMitigationMode: what happens to a gap after price fills it. Trim the box to the fill candle, delete the gap, dim its colours, or keep the full box.
• InpShowCE: draw the 50 per cent Consequent Encroachment line inside each gap.
• InpExtendBars: how many bars an unmitigated gap is extended forward. Default 20.
• InpBullishEnabled, InpBearishEnabled: draw bullish gaps, bearish gaps, or both.
• InpBullBorderColor, InpBullFillColor, InpBullCEColor, InpBearBorderColor, InpBearFillColor, InpBearCEColor: the colours per direction.
• InpDimmedColor, InpDimmedBorder: the colours used when a gap is dimmed.
• InpAlertTouch: alert when price reaches an active gap. Off by default.
• InpAlertPopup, InpAlertPush, InpAlertSound: which alert channels are used.

HOW A GAP IS MEASURED

A bullish gap is the space between the high of the first candle and the low of the third candle, when the third candle's low is above the first candle's high. A bearish gap is the mirror image. The 50 per cent line is the midpoint of that space. The box starts at the first candle: it ends at the candle that filled the gap when the trim behaviour is selected, and otherwise it is carried forward past the current bar by the extension setting. The tooltip on each box shows the range and the midpoint.

A gap is detected on a closed candle, so a gap only appears once its third candle has closed. The box is then kept in step with price: a gap that price reaches inside the candle that is still forming is marked as filled from that candle's current high and low, and an unmitigated gap is carried forward, so the box can still change before that candle closes.

Suited to M5, M15, H1 and H4, where the three bar pattern is readable. The gaps are measured on the chart's own timeframe, so the same settings on a different timeframe give a different set of gaps.

Combine with ICT Sessions: Use in confluence with our free ICT Asian London NY Sessions indicator for killzone setups.