ICT NWOG/NDOG Gaps
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.
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.
Notas de Lançamento:
- 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.
Notas de Lançamento:
- Fix issue with showing midnight candle
- Works on multiple instruments and timeframes
- Updated name for easier search
Notas de Lançamento:
- Fix issue with RTH not showing during real time data.
Notas de Lançamento:
- 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.
Notas de Lançamento:
* 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.
- 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.
Notas de Lançamento:
- Fix bug with Event Horizon showing wrong level.
- Added an alert when price reaches the Event Horizon. (Google how to setup alerts on TradingView).
Notas de Lançamento:
- 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.
Notas de Lançamento:
- Update the chart on the indicator page.