Metatrader 5 Indicator | Fair Value Gaps | Trading Tool Update 📈 MT4 & MT5 Downloads

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Detects bullish and bearish fair value gaps (three-candle imbalances) on closed bars only, so zones don't repaint, and tracks each zone until it's mitigated. Zone state and price levels are exposed through iCustom buffers, so an EA can read them without parsing chart objects.

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A bullish gap is formed when the high of candle 1 is below the low of candle 3; a bearish gap is the mirror. Bar 0 is never used for detection or mitigation. Each zone is drawn as a rectangle that extends right until it's mitigated.

Input	Default	Meaning
InpMinSizeMode	MIN_POINTS	How the minimum gap size is measured: points, or a fraction of ATR.
InpMinSize	0.0	Minimum gap size (points, or ATR multiplier). 0 keeps every gap.
InpAtrPeriod	14	ATR period for MIN_ATR_FRACTION, 1–500.
InpMitigation	MIT_FULL_FILL	MIT_TOUCH: the zone is mitigated when price enters it. MIT_FULL_FILL: mitigated only when price crosses the whole zone.
InpBullColor	clrLimeGreen	Bullish zone color.
InpBearColor	clrTomato	Bearish zone color.
InpMitigatedColor	clrGray	Mitigated zone color.
InpShowMitigated	true	Keep mitigated zones on the chart (false deletes them).
InpMaxZones	100	Most recent zones tracked and drawn, 1–5000.
InpHistoryBars	3000	Bars scanned on the first calculation, 100–100000.

Zone states: 0 none, 1 active, 2 touched, 3 mitigated. "Touched" means partially filled: price entered the zone but didn't cross it. It only occurs in MIT_FULL_FILL mode; in MIT_TOUCH the first entry mitigates the zone.

iCustom buffers (not plotted, visible in the Data Window). Values are written on the bar of candle 3, the bar where the gap is confirmed:

0: state (0–3), updated as the zone changes
1: top price (EMPTY_VALUE if no gap)
2: bottom price (EMPTY_VALUE if no gap)
3: direction (+1 bullish, -1 bearish, 0 none)

Zones dropped by InpMaxZones keep their last buffer state.

int h = iCustom(_Symbol, _Period, "FairValueGaps");
double st[1], top[1], bot[1], dir[1];
if(h != INVALID_HANDLE &&
   CopyBuffer(h, 0, 1, 1, st)  == 1 && CopyBuffer(h, 1, 1, 1, top) == 1 &&
   CopyBuffer(h, 2, 1, 1, bot) == 1 && CopyBuffer(h, 3, 1, 1, dir) == 1 &&
   dir[0] != 0)
   PrintFormat("FVG on bar 1: dir %d, %.5f-%.5f, state %d", (int)dir[0], bot[0], top[0], (int)st[0]);