NDOG & Dynamic Event Horizon° (Experimental)The ICT concept of New Day Opening Gaps (NDOG) is simply an imbalance that may manifest at Daily Opening time. This gap in price is formed by the Close at 5PM EST and the open at 6PM EST.
According to ICT's studies, this gap in price holds a lot of significance when it comes to price action, acting as a magnet or a point of reference during the day (and following days/weeks).
This script applies the supporting concepts of New Week Opening Gaps (Event Horizon and OTE areas) to NDOGs, mimicking my NWOG & Dynamic Event Horizon° indicator. Equally to the latter, this script dynamically selects the most relevant NDOG Dealing Range and plots their EH and OTE levels automatically.
// Please refer to the NWOG indicator post linked above for more information about these concepts
Available Alerts:
– Cross Below Event Horizon
– Cross Above Event Horizon
– New NDOG Range Established
Important Remarks:
– This is purely an experiment, and has not been taught by ICT publicly in any way. Treat this material accordingly.
– Note that although these work on all timeframes, the lower in resolution one goes, the less gaps will be available due to data availability.
– This indicator works on charts that have the NDOG already present in chart (i.e. no crypto assets, unless one looks at CME crypto futures such as BTC1! and ETH1! ).
– The dollar index's NDOGs have a slightly different timestamp, however this has been taken care of and will allow to be plotted ONLY for the TVC:DXY ticker.
TrandingView struggles to display the indicator correctly for the default view, check out its accurate appearance here:
Eventhorizon
ICT NWOG/NDOG GapsThis 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.
