This indicator reveals the new week opening gaps (NWOG) and new day opening gaps (NDOG) as well as the most recent Regular Trading Hour (RTH) Gap. The NWOG is the gap between Friday's closing price and Sunday's opening price. The NDOG is the gap between the opening price and closing price of the previous day. These gaps can be draws on liquidity as well as general reference points of where the market is and has been.
The RTH gap is the difference between the NY Open price at 9:30AM EST and the previous day's closing price during Regular Trading Hours. This gap can also give you an idea of where the market is headed.
Sürüm Notları
⋅
Update to allow indicator to be used on various instruments.
Added user input option to define market open hours to calculate Regular Trading Hours gap.
Sürüm Notları
⋅
Fix issue with showing midnight candle
Works on multiple instruments and timeframes
Updated name for easier search
Sürüm Notları
⋅
Fix issue with RTH not showing during real time data.
Sürüm Notları
⋅
Added ICT "Event Horizon" line. The Event Horizon is the midpoint between 2 weekly gaps. When price crosses the Event Horizon, it can act as a "point of no return" and be a confirmation of which NWOG price is reaching for.
Sürüm Notları
⋅
Add option to select how to calculate the Event Horizon.*
* At the time of this indicator publication, there has not been a definitive way to calculate the Event Horizon. The 2 possible options in this indicator allow you to choose between 1) Using the bottom of one NWOG to the top of the next NWOG or 2) Using the consequent encroachment of each NWOG.
Sürüm Notları
⋅
Fix bug with Event Horizon showing wrong level.
Added an alert when price reaches the Event Horizon. (Google how to setup alerts on TradingView).
Sürüm Notları
⋅
Fixed an issue where candles presented differently on free vs paid accounts.
Added option to "Use Daily Timeframe" to calculate gap closing/opening prices.
Added additional disclaimer.
Sürüm Notları
⋅
Update the chart on the indicator page.
Sürüm Notları
⋅
There have been several requests to update the style of the gaps to show like ICT's. You can now configure that option by setting the opacity of the gap color to 0% and only using the border. In addition, you can now select whether you want no lines, only the CE, or quadrants in each gap. You can also now configure the event horizon line as desired. Once you've found your perfect style, be sure to "Save as default" to load those settings every time. Finally, the title has been updated to allow users to find it more easily as well as the "short title" which shows under your indicators on the chart.
Added a more advanced method of finding RTH gap previous close and open.
Great indicator! But the NDOG is selecting the candle at midnight 01:00am. It should be the close of candle 16:59 and open of 18:00. Or maybe it's just on my end that's bugging out idk. The following indicator has it the way ICT teaches it '[AKM] Daily Opening Gap Indicator'.
@rage_harder_ if you could check in to this, that would be awesome. Thank you
mullcapital
⋅
@rage_harder_ I have the same problem after the new release. The old release worked as it should!
rage_harder_
⋅
@mullcapital, What chart are you looking at? And in what timeframe and timezone?
mullcapital
⋅
@rage_harder_, ES with UTC-5. It is timeframe independent. NWOG works.
rage_harder_
⋅
@mullcapital, Hi there! Script is updated if you care to take a look and let me know if you find anything else inaccurate.
mullcapital
⋅
@rage_harder_, Thanks for your efforts! The time is correct now, but the calculation is off. Look e.g. on Tuesday (Feb 21) and Wednesday (Feb 22) in ES1! - these are the newest NDOGs are shown incorrectly.
rage_harder_
⋅
@mullcapital, It appears to be working and accurate on my end. You may need to remove and re-add the indicator.
mullcapital
⋅
@rage_harder_, I got it - you calculate based on then 4.15pm candle while it should be the 4.59pm candle for equities like ES, NQ, etc. Can you maybe just include a time selection for the NDOG as you have for the RTH gap?
This indicator is awesome and I use it a lot. there is one small thing missing though - the quadrant on the NWOG / NDOG and also CE