What is Fair_Value_Gap_5D?
Fair_Value_Gap_5D detects price imbalances and draws unfilled bullish and bearish zones as rectangles. Bullish gaps can act as support references and bearish gaps as resistance references.
The optional dashboard reports the number of historical gaps and their mitigated percentage. Enabling mitigation lines also keeps already filled gaps visible for reviewing prior reactions.
How to use Fair_Value_Gap_5D
Add Fair_Value_Gap_5D to an MT4 chart and inspect the active rectangles together with the dashboard statistics when the dashboard is enabled.
Set Threshold %, Auto Threshold, unmitigated and mitigation counts, Extend Bars, Dynamic Mode, colors, and Show Dashboard to control the zone review.
Where it helps
Keeps unfilled bullish and bearish imbalances visible as separate areas.
Reports historical occurrence and the displayed mitigated percentage.
Optional lines preserve already filled gaps for comparison with prior price reactions.
MT4 Indicator Parameters
The table below lists the available MT4 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| grp_settings | Settings section. |
| InpThresholdPer | Sets this calculation or display option. Default: 0.0. |
| InpAuto | Enables or disables this display option. Default: false. |
| InpShowLast | Enables or disables this display option. Default: 0. |
| InpMitigation | Enables or disables this display option. Default: false. |
| grp_style | Settings section. |
| InpExtend | Controls this indicator option. Default: 20. |
| InpDynamic | Enables or disables this display option. Default: false. |
| InpBullCss | Controls this indicator option. Default: C'8. |
| InpBearCss | Controls this indicator option. Default: C'242. |
| grp_dash | Settings section. |
| InpShowDash | Enables or disables this display option. Default: false. |
The screenshot above shows the default input parameters in the MT4 settings window.
How to Install .ex4 Indicator in MetaTrader 4
- Download the ZIP file and extract it.
- In MT4, select File → Open Data Folder.
- Open MQL4 → Indicators and copy the EX4 or MQ4 file into it.
- If the package includes library files, copy them to MQL4 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT4, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
