Qazi Forex Tips
Why it is the best free FVG indicator
Most FVG indicators draw boxes and stop there. Some count how many gaps were filled. None of the popular free fair value gap indicators we reviewed on the MQL5 Market, TradingFinder and TradingView answers the question every trader really has: do these gaps work better than any other zone? QFT FVG Pro answers it on your own chart, and puts FVG, IFVG, BPR and higher timeframe gaps in one free tool for both MT5 and MT4.
| Feature | Typical free FVG indicator | QFT FVG Pro |
|---|---|---|
| Bullish and bearish FVG boxes | Yes | Yes, filtered by size and impulse |
| 50% CE line and dynamic fill | Sometimes | Yes |
| Inversion FVG (IFVG) | Separate indicator | Included |
| Balanced price range (BPR) | Separate indicator | Included |
| Higher timeframe FVGs on the chart | Sometimes | Yes, automatic |
| Higher timeframe trend and ICT killzone per gap | Rare | Yes, on every label |
| Fill rate, speed and respect statistics | Rare (counts only) | Yes, with sample sizes |
| Test against random zones (does FVG really work?) | No | Yes, unique |
| CE 1:2 trade test | No | Yes, FVG vs random |
| MT5 and MT4 versions | Often one only | Both |
| Price, DLL, sign-up | Paid, trial or limited time | Free, no DLL, no sign-up |
Features
Auto size threshold (bigger than the average of the last 100 gaps), a real impulse filter and merging of overlapping gaps from one move. Clean zones, not a chart full of tiny boxes.
The consequent encroachment (CE) line, the level most ICT traders use for limit entries, drawn in every open fair value gap.
When price enters a gap the colour shrinks to the part that is still unfilled. Choose when a gap counts as filled: touch, 50% or full, by wick or close.
A gap that price closes straight through flips its role: old support becomes resistance. Shown in blue and orange with a 150-candle life.
Where a bullish and a bearish gap formed close together overlap: a balanced zone where price often reacts hard.
Open H1, H4 or D1 fair value gaps drawn on your chart in gold, picked automatically for your timeframe.
Each label says if the gap formed with the higher timeframe EMA 50 trend and inside the London, New York or London Close killzone.
For every gap, 3 random zones of the same size and distance are tested the same way. The panel shows whether FVGs beat random zones on your chart.
A real trader test on every gap: limit at 50%, stop beyond the gap, target 1:2. Shown for FVGs and for random zones, with sample sizes.
What % of gaps fill, after how many candles, how often price reacts after a touch, split by trend and by killzone.
Only the gaps nearest to price are drawn, with clear labels like 'Bullish FVG · 42.7 pips · with H4 trend · Kill Zone FVG'. Light and dark themes automatic.
New FVG, price enters a gap, 50% touched, gap filled, new inversion FVG: on the terminal and on your phone.
The same detection, labels, panel and statistics for MetaTrader 5 and MetaTrader 4.
A gap is drawn only after its third candle closes. It is never moved or removed afterwards; only its status (touched, filled, inverted) updates.
What you see on the chart
A fair value gap (FVG) is a three-candle imbalance: the middle candle moves so fast that the wicks of the first and third candle do not overlap. QFT FVG Pro labels every object in plain words, so students know exactly what they are looking at. Hover over any box for the full details: impulse strength, volume, trend, session and status.
| On the chart | What it means |
|---|---|
| Bullish FVG (teal box) | Gap left by a strong up-move: a possible support / buy zone when price returns. |
| Bearish FVG (red box) | Gap left by a strong down-move: a possible resistance / sell zone when price returns. |
| Label | Bullish FVG · 42.7 pips · with H4 trend · Kill Zone FVG = type · size · formed with the higher timeframe trend · formed in a killzone. |
| Dotted middle line | The 50% line, called CE (consequent encroachment) in ICT. |
| Box getting smaller | Dynamic fill: the coloured part shows what is still unfilled. |
| Faded dotted box | A filled gap: price traded through all of it. The latest 3 per side stay for learning. |
| Bullish / Bearish Inversion FVG | A gap closed through by price: its role flips (blue = new support, orange = new resistance). |
| Balanced Price Range (BPR) | Overlap of a bullish and a bearish gap formed close together. |
| H4 Bullish / Bearish FVG (higher timeframe) | Open higher timeframe gaps in gold: the bigger zones your gaps sit inside. |
The self-test panel
Open bullish / bearish and the distance to the nearest gap below and above price, plus active inversion gaps.
Filled: what % of gaps were completely filled and after how many candles on average.
Respected after touch: how often price moved 1 ATR away after the first touch, before trading through the gap.
Random zone, same shape: the same test on random zones. "FVG +5 pts" means gaps did 5 points better than random on this chart.
CE 1:2 test: limit at 50%, stop beyond the gap, target 1:2, for FVGs and for random zones.
Trend and killzone rows show if those filters help on your symbol. Numbers turn green only when FVGs beat random zones by more than luck can explain (2 standard errors).
Do fair value gaps work? We tested 23,773 FVGs
Before releasing QFT FVG Pro we ran its exact detection logic on real market data: Gold (XAUUSD) 2024 and 2025 and EURUSD 2023 and 2025, on M5 and M15 (HistData one-minute bars). Every gap was compared with random zones of the same size and distance from price.
| Market · timeframe | Gaps | Respected FVG | Random | CE 1:2 win FVG | Random |
|---|---|---|---|---|---|
| XAUUSD 2024 · M15 | 1,336 | 42% | 44% | 32% | 28% |
| XAUUSD 2024 · M5 | 4,571 | 41% | 40% | 31% | 29% |
| XAUUSD 2025 · M15 | 1,392 | 43% | 43% | 34% | 30% |
| XAUUSD 2025 · M5 | 4,464 | 41% | 40% | 32% | 29% |
| EURUSD 2023 · M15 | 1,172 | 43% | 42% | 29% | 26% |
| EURUSD 2023 · M5 | 4,020 | 41% | 41% | 30% | 28% |
| EURUSD 2025 · M15 | 1,460 | 44% | 42% | 34% | 29% |
| EURUSD 2025 · M5 | 5,108 | 42% | 41% | 29% | 28% |
What the data says
- The edge is at the 50% (CE) line. A limit entry at the CE of a fair value gap won more often than the same trade on a random zone in all 8 tests.
- "Price touched the gap and bounced" is not proof. On that test FVGs and random zones were almost equal (42% vs 41%). Indicators that only show a "respected %" can mislead you.
- Trend and killzone filters did not add an edge on average. That is why QFT FVG Pro shows them as tags and measures them on your chart instead of selling "strong" stars.
- An FVG is a zone, not a full strategy. At 1:2 you need about 34% wins to break even before costs. Combine gaps with market structure, liquidity and strict risk management.
Results come from past data and differ by broker and period. Your own panel always shows the live numbers for your symbol and timeframe.
How to trade fair value gaps with QFT FVG Pro
- Read the panel. Is the CE 1:2 row green on your symbol and timeframe? If FVGs do not beat random zones there, choose another timeframe or trade them with extra care.
- Find the context. Is price near a gold higher timeframe FVG? Which way is the H4 trend? Was a previous high or low swept?
- Wait for a fresh gap created by a strong move away from that area, ideally one that breaks structure.
- Plan at the CE line. Limit at 50%, stop just beyond the far edge, target at least 1:2 or the next liquidity. Size the trade with our lot size calculator.
- Respect the stop. If a candle closes straight through the gap, it becomes an inversion FVG: the idea is wrong.
Install in 2 minutes
- Download the free zip for your platform (MT5 or MT4) and unzip it (right-click → Extract All).
- In MetaTrader open File → Open Data Folder, then MQL5 → Indicators (MT5) or MQL4 → Indicators (MT4).
- Copy QFT_FVG_Pro.ex5 (MT5) or QFT_FVG_Pro.ex4 (MT4) into that folder.
- In the Navigator (Ctrl+N) right-click Indicators → Refresh.
- Drag QFT_FVG_Pro onto a chart (M5, M15 or H1 work best), set Candles to scan to 10000 and press OK. No DLL or extra permission is needed.
Free download, version 2.22, for MT5 and MT4. Each zip contains the indicator (.ex5 or .ex4), a READ ME and the Install Guide & Features PDF (every feature and setting explained, with Roman Urdu steps): read the PDF.
Main settings
| Candles to scan | History checked for gaps and statistics. Default 3000; use 10000+ for reliable numbers. |
| Sensitivity | Auto (recommended): only gaps bigger than the average gap. Or Low / Normal / High / Custom as a part of ATR. |
| Middle candle must be a real impulse | Removes weak, wicky gaps: the middle candle needs a body of at least 50% of its range. |
| Merge overlapping gaps of one move | One clean zone instead of several small boxes. |
| Gap is filled when price reaches / measured by | Touch, 50% or full gap; by wick or by candle close. |
| Dynamic | Box shrinks to the unfilled part. |
| Inversion FVG / Balanced price range | Show IFVG and BPR zones. |
| Higher timeframe / EMA period | Automatic higher timeframe (M5 → H1, M15 → H4 ...) and the EMA 50 used for the trend tag. |
| Show higher timeframe FVGs | Gold zones of open higher timeframe gaps, 2 per side. |
| Only FVGs formed in a killzone | Hide gaps formed outside London, New York and London Close killzones. |
| Open / filled / inversion gaps shown | 5 / 3 / 3 nearest to price by default, so the chart stays clean. |
| Fill strength | Box colour strength, default 16% (light). |
| Alerts | New FVG, price enters a gap, 50% touched, gap filled, new IFVG, optional push to your phone. |
Khulasa (Roman Urdu / Hindi)
- Bilkul free FVG indicator MT5 aur MT4 dono ke liye: bullish aur bearish fair value gap, 50% (CE) line, inversion FVG, BPR aur H4 ke FVG.
- Har box par poora naam: Bullish FVG · size pips mein · H4 trend ke saath · Kill Zone FVG.
- Panel batata hai: kitne gaps fill hue, kitni der mein, aur price ne kitni baar respect kiya.
- Sab se khaas: har FVG ko random zone ke saath test karta hai, taa ke aap ko pata chale ke aap ke chart par FVG waqai kaam karte hain ya nahi.
- Hamari research (23,773 gaps, Gold aur EURUSD): asal faida 50% (CE) entry par hai.
- Candles to scan 10000 rakhein aur pehle demo par practice karein. Help ke liye WhatsApp karein.
Questions
Is QFT FVG Pro really free?
Yes. QFT FVG Pro is 100% free to download and use on MT5 and MT4, with no trial, no licence key, no DLL and no sign-up. It is one of the free tools of Qazi Forex Tips.
What is the best free FVG indicator for MT5?
Look for one that filters weak gaps, shows the 50% CE line, tracks fills, includes inversion FVGs and higher timeframe gaps, and gives honest statistics. QFT FVG Pro does all of that for free and is the only free FVG indicator we know that tests fair value gaps against random zones on your own chart.
Is there an FVG indicator for MT4?
Yes. QFT FVG Pro has a free MT4 version with the same gaps, IFVG, BPR, higher timeframe FVGs, labels, panel and statistics. Download the MT4 zip and copy QFT_FVG_Pro.ex4 into MQL4 → Indicators.
What is a fair value gap (FVG)?
A fair value gap is a three-candle imbalance: a strong middle candle moves so fast that the wicks of candle 1 and candle 3 do not overlap. The empty space is the gap. ICT and Smart Money traders watch for price to return to it. Full explanation in our fair value gap guide.
What is an inversion fair value gap (IFVG)?
When price closes straight through a fair value gap, the gap can flip its role: a broken bullish gap can act as resistance and a broken bearish gap as support. QFT FVG Pro marks these as Bullish or Bearish Inversion FVG.
What is a balanced price range (BPR)?
A BPR is the overlap of a bullish and a bearish fair value gap that formed close together. QFT FVG Pro draws it in purple as Balanced Price Range (BPR).
What is the CE or 50% of an FVG?
CE (consequent encroachment) is the middle, 50% level of a fair value gap. Many ICT traders place their limit entry there. In our test of 23,773 gaps, entries at the CE line beat random zones in every market and timeframe tested.
Do fair value gaps really work?
In our test on Gold and EURUSD (2023–2025, M5 and M15), a limit at the 50% line of a fair value gap won more often than the same trade on random zones in all 8 tests (31% vs 28% at 1:2). Simply touching a gap and bouncing was not better than random. So FVGs are useful zones, not a complete strategy; combine them with structure, liquidity and risk management.
Does the FVG indicator repaint?
No. A gap is drawn only after its third candle has closed and it is never moved or removed afterwards. Only its status changes when price touches, fills or closes through it.
Does it work for Gold (XAUUSD)?
Yes. It works on Gold, all forex pairs, indices such as US30 and NAS100, oil and crypto. On Gold, 1 pip = 0.10 of price, so a 42.7 pips gap is 4.27 dollars.
Which timeframe is best for FVG trading?
M5, M15 and H1 are the most popular. Use 10000 candles to scan so the panel has enough gaps, and check the self-test rows on each timeframe you trade.
Does QFT FVG Pro place trades?
No. It is an indicator: it draws on the chart, keeps statistics and sends alerts. You decide and place every trade yourself.
How is it different from FVG indicators on TradingView?
QFT FVG Pro runs inside MetaTrader 5 and 4, where you trade, and adds what typical FVG scripts do not: a self-test against random zones, a CE 1:2 trade test, trend and killzone tags and full statistics with sample sizes.
Can I get help in Urdu or Hindi?
Yes. Message Dr. Qazi's team on WhatsApp +92-323-6700010 in Urdu, Hindi or English. The install guide PDF also has Roman Urdu steps.
Learn the concepts behind it
- Fair value gap (FVG): the ICT imbalance explained
- Smart Money Concepts (SMC) guide
- Order blocks explained
- BOS vs CHoCH: market structure
- Liquidity in forex: where stops sit
- Risk:reward ratio and the break-even win rate
- Free ICT killzones indicator for MT5 & MT4
Education only, not financial advice. Statistics and test results shown by the indicator and on this page come from past price data; they help you learn and do not guarantee future results. Trading forex, Gold and CFDs carries a high risk of loss. Read our Risk Disclaimer.