summary: how to use the fair value gaps report to trade FVGs as entry zones or targets — reading the mitigation rate, the by-size subreport, and the customize settings that control it.
what it measures
a fair value gap (FVG) is an inefficiency left behind when price moves so fast it skips a range — the classic ICT three-candle pattern, where the gap is the space between the first candle's wick and the third candle's wick, with a big displacement candle in the middle. a bullish FVG forms on a strong move up and sits below price; a bearish FVG forms on a strong move down and sits above price.
the report answers one question: how often does price come back and fill the gap? edgeful calls a filled gap mitigated — so on the report every FVG is marked mitigated or unmitigated, split into bullish and bearish. it's one of the most-asked ICT concepts, and this report puts a historical mitigation rate behind it instead of leaving it as theory.
FVGs are timeframe-dependent — the gaps on a 5-minute chart aren't the ones on a 1-hour chart. the timeframe used to find them lives in the customize settings (more on that below) and defaults to 5 minutes.
how to read it
a high mitigation rate means gaps act like magnets — price tends to come back and rebalance the inefficiency before continuing. that gives you two ways to use an unmitigated gap:
as an entry zone — price pulls back into the gap in the direction of the displacement, and you enter the continuation from there
as a target — an unmitigated gap the other way is a level to take profit against
the standard view splits bullish and bearish FVGs, so you can see which direction's gaps get mitigated more often before you lean on one. open the report for the ticker and session you trade to see the current rates.
the subreports
standard
the mitigation rate for bullish and bearish FVGs side by side. this is your base read — pull it up for the ticker and timeframe you trade to see how reliably gaps get mitigated.
by size
filters FVGs into size buckets. small gaps tend to get mitigated at a very high rate — they're minor inefficiencies price cleans up quickly. large gaps get mitigated less often, because a big gap usually means strong displacement that keeps running rather than coming back. size the expectation to the gap: a small gap supports a confident fade back into it, a very large gap is a warning that price may not return.
how traders use it
the core play is trading the retrace into an unmitigated gap. in a bullish move, price pulls back into the FVG below, and you get long expecting the move to continue — the gap acts as support. the mirror applies to bearish gaps overhead. traders running the ICT model also use unmitigated gaps as targets, taking profit where price is likely to rebalance.
keep the gap drawn on your chart and layer by size on top to decide whether it's fadeable at all. it pairs naturally with the ICT opening retracement report — both are ICT-model reads on where price is likely to return.
the customize settings
the customize button opens the settings that define what counts as an FVG and what counts as a fill — this is where most of the report's power sits:
timeframe — the candle timeframe used to find the gaps. defaults to 5 minutes; set it to the timeframe you actually trade.
mitigation criteria — what counts as a fill: by candle close (price has to close inside the gap) or by wick (a wick into the gap is enough). by wick is the looser definition and will show a higher mitigation rate.
mitigation percentage — how much of the gap has to fill to count as mitigated. leave it at 100% for a full fill, or drop it lower to count partial fills.
FVG filter — all FVGs counts every gap in the session; first presented counts only the first FVG of the session, so there's at most one bullish and one bearish per day.
weekdays to use — limit the calculation to specific days of the week.
whatever you set shows up in the custom settings panel on the report, so you can always see the definition behind the numbers.
setting it up
use the fair value gaps indicator to plot the gaps on your chart, and keep it on the same timeframe you set in the customize settings — that's what makes the mitigation rate line up with the gaps you're actually looking at.
tips
the by-size subreport is the important one. a small gap and a large gap are two different trades — a large gap gets mitigated far less often because the displacement behind it tends to keep going.
check the mitigation criteria before you trust a number. by wick counts a gap as filled the moment price pokes into it; by candle close waits for a close inside it — the two can give very different rates.
confirm the read holds across 1 year, 6 months, and 3 months before you lean on it, and remember consistent results take customization and reps.