Fresh MQL5 code release – perfect for enhancing your MT4/MT5 strategies.
Dynamic Fair Value Gap (FVG) Indicator for MetaTrader 5
The Dynamic Fair Value Gap (FVG) indicator is a custom MQL5 technical analysis tool specifically designed to detect unmitigated (untouched) market price imbalances. This indicator is perfectly suited for traders utilizing *Smart Money Concepts (SMC)* or *Price Action* trading styles.
Core Features and Functions
1. Unmitigated FVG Detection (Bullish & Bearish)
- Automatically detects emerging FVGs (a 3-candle pattern) and highlights the *gap* area where price has moved too rapidly without opposing liquidity.
- Bullish FVG : A gap formed between the High of Candle 1 and the Low of Candle 3.
- Bearish FVG : A gap formed between the Low of Candle 1 and the High of Candle 3.
2. Auto-Removal of Mitigated FVGs
- If an FVG area is touched (mitigated) by subsequent price action, the indicator automatically deletes the corresponding FVG rectangle and label from the chart.
- This ensures your chart remains clean, displaying only "fresh" and relevant FVG zones to be used as *Entry* or *Target* areas.
3. Dynamic Forward Extension
- As long as the FVG zone remains untouched by price, the rectangle and text label dynamically extend forward in time (protruding ahead of the current price by a customizable length, default is 18 bars).
4. Previous Daily High & Low Markers
- The indicator provides crucial liquidity reference levels from the previous trading day (Previous Daily High & Low) by drawing automatic horizontal lines:
- Yesterday's High Line (Red) : Labeled with *"break high buy kembali masuk sell"*.
- Yesterday's Low Line (Green/Blue) : Labeled with *"break low sell masuk keatas lagi buy"*.
- These horizontal lines are automatically deleted and refreshed to the new levels whenever the trading day changes.
5. Alerts & Notifications
- Fully integrated with MT5 notification systems (Pop-up Alert, Sound, and Push Notifications) to notify you immediately when a new FVG pattern is formed.
Key Input Variables
-`BarsToKeep` (Default: 300) : Determines how far back (number of candles) the indicator will scan historical price data to look for FVGs.
-`ForwardBars` (Default: 18) : Sets the visual extension length of the FVG rectangles into the future (ahead of the current candle) for easy monitoring.
-`RectangleFill` (Default: true) : Determines whether the FVG rectangles will be filled with solid color or just drawn as outlines.
How to Use
Simply attach this indicator to your chart on any timeframe. It will immediately present unfilled FVG zones which frequently act as price "magnets." Furthermore, you can combine these FVG levels with price manipulation strategies based on the *Support/Resistance* lines derived from the previous day's highest and lowest prices.
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