Fair Value Gap Chart
Fair Value Gap Chart detects the standard 3-candle wick-to-wick FVG pattern and draws color-coded zones on your chart. A bullish FVG forms when the first candle's high does not reach the third candle's low — the gap between them is untraded institutional demand. A bearish FVG forms when the first candle's low does not reach the third candle's high — untraded institutional supply.
- ●Green zones mark bullish FVGs (demand) — solid top border at the third candle's low, dashed bottom border at the first candle's high, dotted CE midpoint between them
- ●Red zones mark bearish FVGs (supply) — solid bottom border at the third candle's high, dashed top border at the first candle's low, dotted CE midpoint between them
- ●MinGapATR (default 0.1) filters out noise gaps by requiring a minimum gap size as a multiple of the 14-bar ATR — raise this to see only the most significant gaps
- ●RequireVolSpike (default false) adds a volume filter requiring the middle candle's volume to exceed VolMultiple (default 1.5x) the 20-bar average — enables conviction-based filtering
- ●MaxFVGAge (default 100 bars) automatically expires old zones that price never returned to fill
- ●MaxFVGCount (default 10) limits simultaneous zones to keep charts clean
- ●Automatic mitigation removes zones when price closes through them — bullish FVG removed when close breaks below zone bottom, bearish FVG removed when close breaks above zone top
- ●Plot1 outputs +1 inside a bullish FVG, -1 inside a bearish FVG, and 0 outside for subgraph reference
The highest-probability setups occur when price returns to fill a fresh FVG and touches the CE midpoint — this is where institutional rebalancing is most likely to trigger a reaction.
All detection uses confirmed bar data only (bars [3], [2], [1]). Non-repainting guaranteed.
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Part of the Fair Value Gap Bundle
Get all 4 study types for $65 — save $50
Who This Is For
Fair Value Gap Chart is built for SMC and ICT-style traders who use Fair Value Gaps as the foundation of their price action analysis. If you manually identify the 3-candle wick-to-wick gap pattern, this indicator automates that exact detection with configurable quality filters.
Use it on intraday charts (1-minute to 15-minute) for day trading gap-fill setups. The default MinGapATR of 0.1 catches most meaningful gaps. Increase to 0.25 or higher on volatile instruments to filter out small noise gaps. Enable RequireVolSpike for the highest-conviction gaps backed by abnormal volume.
The indicator works on any liquid market. Best results on index futures (ES, NQ), NASDAQ-100 stocks, and high-volume ETFs where the 3-candle pattern reflects genuine institutional imbalance rather than random noise.
Look for fresh FVGs that have not been revisited. When price returns to fill the gap and approaches the CE midpoint, that is your primary entry zone. Place stops beyond the opposite zone boundary.
See It in Action
Example chart showing Fair Value Gap Chart on a live trading session
Example chart showing Fair Value Gap Chart on a live trading session
Installation Guide
Step 1: Download the indicator file
After purchasing, you will receive a download link via email. Click the link and save the fair-value-gap-bundle-chart.eld file to your computer. Save it somewhere easy to find like your Desktop or Downloads folder.
Step 2: Open the Import Wizard
Open TradeStation. Click the File menu in the top-left corner, then select Import/Export EasyLanguage to launch the Import/Export Wizard.
Step 3: Select the import type
In the Import/Export Wizard, select "Import EasyLanguage file (ELD, ELS or ELA)" from the list. Click Next to continue.
Step 4: Browse for the file
Click the Browse button to open a file browser where you can locate your downloaded .ELD file.
Step 5: Select and open the file
Navigate to the folder where you saved the .ELD file. Select fair-value-gap-bundle-chart.eld and click Open.
Step 6: Open the Studies menu
On your chart, click the Studies dropdown in the toolbar and select Add Study.
Step 7: Select the indicator
In the Add Studies dialog, make sure the Indicator tab is selected on the left side. Find "!IndHub-FairValueGap_v1" in the list, select it, and click OK to apply.
Step 8: Configure settings (optional)
Right-click anywhere on the chart, go to Studies > Edit Studies..., select the indicator, and click the Inputs tab. Key inputs: MinGapATR (default 0.1, minimum gap size as ATR multiple), RequireVolSpike (default false, volume filter), VolMultiple (default 1.5x), MaxFVGAge (default 100 bars), ShowBullish/ShowBearish (toggle sides), ShowMidpoint (toggle CE line), BullColor/BearColor (zone colors).
Common Issues
I see too many FVG zones on my chart. How do I filter to only the significant ones?
Increase MinGapATR to require larger gaps. The default 0.1 catches most gaps — try 0.25 or 0.5 to see only gaps that are at least a quarter or half of the ATR. You can also enable RequireVolSpike to only show gaps backed by abnormal volume on the middle candle. Reduce MaxFVGCount to limit simultaneous zones, or lower MaxFVGAge to expire zones faster.
Zones disappear from my chart. Is the indicator repainting?
No, the indicator does not repaint. Zones are removed for two reasons: mitigation (price closed through the zone, filling it) or expiration (the zone exceeded MaxFVGAge bars). Both are expected behavior. Increase MaxFVGAge if you want zones to persist longer.
What is the difference between this and an Order Blocks indicator?
Fair Value Gaps and Order Blocks are different SMC concepts. FVGs detect the 3-candle wick-to-wick gap pattern — an untraded price space created by an impulse move. Order Blocks identify the last opposing candle before a market structure break — the accumulation/distribution zone. Both represent institutional interest, but FVGs focus on the gap itself while OBs focus on the originating candle. Many traders use both concepts together.
For additional help, contact support.