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Ndog

BB NWOG - NDOG - RTH NDOGThe BB Gaps Indicator is a comprehensive tool designed for traders looking to track and visualize significant opening gaps within various market sessions, including: • New Day Opening Gaps (NDOGs): These gaps form between the closing price of the previous day and the opening price of the new day, providing insight into potential liquidity pools or imbalances. • RTH New Day Opening Gaps (RTH NDOGs): This focuses on gaps that occur during Regular Trading Hours (RTH), capturing gaps between session closures and the next day’s open, ideal for intraday traders. • New Week Opening Gaps (NWOGs): These gaps track the price differential between the last candle of the week and the first candle of the new trading week, providing a broader market perspective for swing traders. Key Features: • Dynamic Plotting: Visualize gaps with customizable extensions, box fills, and mid-range (50%) or quarter-range (25%, 75%) levels. • Sidecar Labels: Handy sidecar labels display the gap information right on the chart for easy reference. • Multiple Session Support: Track gaps across different trading sessions (Daily, RTH, Weekly) with adjustable plot extensions and fill styles. • Configurable Limits: Set a maximum number of gaps to plot, ensuring your chart remains clean and clutter-free.
Pine Script™ indicator
by Bender_Bot
5
ICT NWOG/NDOG Gaps [TradingFinder] New Opening Gaps🔵 Introduction 🟣 Understanding ICT Opening Gaps In the realm of technical analysis, mastering the art of recognizing market behavior and pinpointing key price levels is vital for making sound trading decisions. Among the array of tools available, the concept of opening gaps stands out for its ability to provide crucial insights. The ICT (Inner Circle Trader) methodology offers a distinctive approach to understanding the importance of New Day Opening Gaps (NDOG), New Week Opening Gaps (NWOG), and New Monthly Opening Gaps (NMOG). These gaps, representing the price differences between the close of a previous period and the open of the next, serve as key reference points that can greatly impact price movements. The ICT trading approach highlights these gaps as potential zones of support and resistance. Prices often respond to these areas, either bouncing off or passing through and then retesting them. Within these gaps, significant levels such as the high and low are particularly important. Additionally, the Event Horizon PD Array (EHPDA) concept, which is an intermediate level calculated from the average of neighboring NWOGs or NDOGs, adds another layer to this analysis. This guide delves into ICT's New Daily, Weekly, and Monthly Opening Ranges, showing how these gaps can be effectively utilized in trading. By grasping the nuances of these gaps, traders can better forecast market behavior, identify key support and resistance levels, and refine their trading strategies. 🟣 The Gaps 1. New Week Opening Gap (NWOG) : The NWOG is the price gap between Friday's closing price and Sunday's opening price. This gap is particularly crucial for traders who monitor weekly trends. Depending on the direction of the gap, the NWOG often serves as a pivotal support or resistance level. 2. New Day Opening Gap (NDOG) : The NDOG signifies the price difference between the closing price of the previous day and the opening price of the current day. Much like the NWOG, the NDOG is a key reference point for intraday traders. Prices typically react to these levels, either reversing or continuing through the gap after a retest. NDOGs are instrumental in identifying short-term support and resistance levels, aiding traders in making decisions based on daily price movements. 3. New Monthly Opening Gap (NMOG) : The NMOG represents the gap between the closing price of the previous month and the opening price of the current month. This gap is especially valuable for traders focusing on long-term trends and macroeconomic factors. As with NWOGs and NDOGs, the NMOG can act as a significant support or resistance level. 🔵 How to Use Identifying Support and Resistance : Opening gaps often indicate potential zones where prices might reverse or find support/resistance. For example, if a new day opens below the previous day’s close (creating a NDOG), this gap could act as resistance, prompting traders to consider short positions if the price retests this level without breaking through. Conversely, if the price opens above the previous day’s close, the gap might serve as support, offering a potential entry point for long trades. Gap Fill Strategy : A popular strategy associated with opening gaps is the "gap fill" approach, where traders anticipate that the price will eventually return to fill the gap. For instance, if there’s a significant NDOG at market open, a trader might expect the price to retrace back to the previous day’s close, effectively "filling" the gap. This strategy is particularly effective in markets that exhibit mean-reverting behavior. Combining Gaps with Other Indicators : Traders often enhance their analysis of NDOG, NWOG, and NMOG by integrating other technical indicators. Aligning gap levels with tools such as Fibonacci retracements, moving averages, or existing support and resistance zones can provide additional confirmation for trade entries and exits. 🔵 Setting Show and Color : You can control the display or non-display of the range as well as the color of the range. Max Opening Range Update Method : You can control the number of ranges that are updated. If it is "All", all ranges that are not mitigated will be displayed. If "Custom", the ranges will be updated based on the number you specify. Max Opening Range Update : The number of ranges to update. 🔵 Conclusion The ICT New Daily, Weekly, and Monthly Opening Ranges provide traders with a systematic approach to understanding market dynamics and identifying critical support and resistance levels. By analyzing these gaps, traders can gain deeper insights into potential price movements, spot high-probability trade setups, and strengthen their overall trading strategy. Whether you are focused on short-term day trading or long-term market trends, incorporating NDOG, NWOG, and NMOG analysis into your trading plan can be a powerful addition to your toolkit.
Pine Script™ indicator
by TFlab
ICT New Day Opening GapNew Day Opening Gap The New Day Opening Gap (NDOG) is defined by The Inner Circle Trader (ICT) as the separation in time/price that is caused by the 1-hour break that occurs each day in the futures market. The opening price of the gap is the very first tick that occurs at the 6:00pm restart; then we look at the 5:00pm closing price of the previous session. This New Day Opening Gap forms every day from Monday to Friday, but it does not include the gap between Friday's close and Sunday's open (because that is instead referred to as a New Week Opening Gap). This is an example of a New Day Opening Gap (NDOG) for Wednesday, May 22, 2024 in CME_MINI:ES1! How To Use NDOG When an NDOG forms, it can be extended into future price action. One way to use these gaps is to look for it to be filled in by price action. Another usage for these gaps is to look for support & resistance to come in at the high and low of these NDOGs (as well as the midpoint). Disclaimer This indicator is mainly intended to work for Futures markets, and specifically the following Index Futures markets: E-mini S&P 500 Futures, E-mini NASDAQ-100 Futures, E-mini DOW Futures. Given that, the indicator still supports various other markets/assets out-of-the-box, such as other types of Futures Markets, Forex markets, Stocks, Options, and more. The main difference will be that other markets may have NDOGs forming at different times, rather than the 5pm-6pm gap that occurs in the Index Futures. Indicator Features This indicator is 100% custom-built, not using code from any other existing NDOG plotting indicators. The purpose of this indicator was to overcome many shortcomings from other existing indicators. Therefore, this indicator has many UNIQUE features, such as: Ability to maintain accuracy of the closing/opening prices even when changing chart settings (e.g., toggling ETH/RTH sessions, toggling BACK-ADJUSTMENT on futures contracts, toggling SETTLEMENT prices, etc.). Draw up to 25 previous NDOGs, even on ultra-low timeframes like the 1-minute or 1-second chart. Automatically or manually choose which NDOGs to hide/show on the chart. Highly customizable, including a different color scheme to easily distinguish between the Current and Previous NDOGs. Modified price values to correctly display prices that use a format like 109'32 (e.g., Bond Futures or Wheat Futures). Helpful tooltips to provide more detailed information about the NDOGs or about the current Input Settings. Error Messages There are some conditions which can cause the script to fail and display an error message (by clicking the red exclamation mark next to the indicator.) Error messages: Use a Standard Chart Type : this will occur when using a non-standard chart such as Heikin Ashi, Renko, Point & Figure, etc. Use a Daily or Lower Timeframe : this error will appear when using a higher timeframe chart like weekly or monthly, because it can clutter the chart since NDOGs can form every day. NDOG was not detected : this means that no NDOG was found, for example if the chart did not have enough bars/candles (e.g., some Options markets). Exceeded the maximum lookback for Bar Replay mode : when using bar replay mode; this can depend on the amount of historical bars available in different account subscription types. Unable to Activate Bar Replay mode : if the indicator could not be used in Bar Replay mode. Restart Bar Replay : if the indicator works in Bar Replay but it detected an error that would cause NDOGs to be plotted incorrectly. NDOG was not detected. Toggle "Error Handling" Option at your own discretion : this is more of a warning message that will appear when the indicator does not detect any actual gap between the days (e.g., Forex markets where it is continuously traded through each day, without any gap forming in between). But the warning can be dismissed by toggling the checkbox at the bottom of the Indicator's Input Settings. This is an example of what a script error would look like. Indicator Settings Most settings are self-explanatory or have a tooltip with information on what the setting does, so this section will only briefly cover the available settings. The "Extend to End of Week" option is enabled by default, which will extend each NDOG only up to the end of the week that it belongs to. This option can be toggled OFF to automatically extend all NDOGs to the right-most candle on the chart. Previous NDOGs: Between 1 and 25 previous NDOGs can be displayed. The checkbox can be toggled to quickly hide all previous NDOGs (but the same effect would be reached by setting the value to 0). Hide Current NDOG: the current NDOG (colored in Green in the example above), can be optionally hidden from being plotted. These settings are used to customize the visual style of the most recent NDOG (also known as the "Current" NDOG). Note: the exact same set of settings are available for the Previous NDOGs. The text next to each NDOG can be optionally hidden to clean the chart a little. These are settings to customize the appearance of the Price Table on the right, including the ability to hide it completely. One of 7 available overlap handling options can be used to filter which NDOGs are plotted on the chart. By default, the "None" option will be selected, meaning that all valid NDOGs are plotted on the chart. Date Format : select the format of the date that is shown next to each NDOG. Timezone : choose the timezone for the NDOG closing/opening date-times that are displayed (only in tooltips when you hover over an NDOG label). NDOG Label : choose the details to display next to each NDOG (e.g., date, or NDOG number, or both). Price Format : only two options: Auto/Decimal. "Auto" uses custom processing to allow displaying values such as 109'32 for Bond futures. This option can be toggled to allow displaying NDOGs for markets that may not have an actual gap between days, such as Forex markets, or BTC/USD (which is traded 24/7). Note: this option must be used at your own discretion because the opening/closing times for the NDOGs are not guaranteed to be accurate. Tooltips The indicator provides additional details about an NDOG when you hover over a row in the Price Table. Note: the same information can be found by hovering over the Text Label that is to the right of each NDOG. Overlap Handling The tooltip next to "Select a Strategy" in the options will provide details on each overlap handling strategy. Additionally, when a strategy is selected, a new row in the Price Table will appear; hovering over that will show details about the currently selected strategy, as well as any suggestions in case the inputs were invalid. When a strategy hides an NDOG, the number in the Price Table will be replaced with an "Eye" icon, indicating that it is not currently plotted on the chart. Available strategies are: Option 1 (Gradients) : select the percentage opacity to shade NDOGs in. The more recent NDOGs will be closer to the maximum opacity defined, while the older NDOGs will appear more transparent, closer to the minimum opacity defined. Note: only affects previous NDOGs, not the current NDOG. Option 2 (Week Extension) : select the number of weeks to extend each NDOG up to. Note: this will override the "Extend to End of Week" setting, regardless whether it is toggled ON or OFF. Option 3 (Nested Gaps) : hides nested gaps, i.e., NDOGs that are enclosed within another NDOG. Note: this option is only available when the "Extend to End of Week" setting is disabled . Option 4 (Intersecting Gaps) : hides intersecting/overlapping gaps, i.e., NDOGs that overlap one another (this may also include, but is not limited to, nested gaps). The drop-down next to this option allows choosing the priority of which NDOGs to hide first. Note: this option is only available when the "Extend to End of Week" setting is disabled . Option 5 (Gap Width) : the chart will only show NDOGs that have a width between the defined parameters. This can be useful to filter out NDOGs that are deemed "insignificant". For example, the Inner Circle Trader will generally filter out of his analysis any NDOGs that are less than a point (4 ticks) for Index futures. Option 6 (Close Proximity) : the chart will only show the NDOGs that are within a certain range from the market price. This can be useful when plotting multiple NDOGs while using auto-scaling on the chart. By only showing nearby NDOGs, it will prevent the auto-scaling from having to compress the candles to fit the far-away NDOGs onto the screen. Option 7 (CSV) : this option is used if none of the others suit you well; it allows specifically choosing which NDOGs to hide or show on the chart. This is an example that chooses the Overlap Handling Strategy Option 6. Note that in this example, the tooltip in the price table shows a warning that the Input Number should be increased to plot some NDOGs on the chart. Tips Chart settings can be toggled to "Scale price chart only" to prevent the auto-scaling of TradingView from compressing the chart if there are NDOGs that are far away from the current market action. If you change a lot of indicator settings such as NDOG color schemes, you can save the settings as the Default to prevent your settings from resetting the next time you use the indicator.
Pine Script™ indicator
by n00btraders
40
ICT NWOG/NDOG [Source Code] (fadi)New Week Opening Gap (NWOG) and New Day Opening Gap (NDOG) are areas on the chart where price tend to react to and has the potential of moving from one gap to the next. These gaps can act as support and resistance zones where price can bounce of, or go through and retest. Areas of interest are the high, low, the Consequent Encroachment (C.E.), which is the middle between high and low of each gap. Event Horizon is the 50% distance between two NWOGs and price tend to react to, and could act as Premium/ Discount between two NWOGs. New Week Opening Gap (NWOG) The difference between Friday close, and Sunday open. Consequent Encroachment (C.E.) is the area between two NWOGs. Settings NWOG - The Colors in the form of Current/Previous and line style for NWOG - Background color to use for Current/Previous - Number of NWOGs to use by the indicator (ICT recommends using minimum of 5) - Extend Configuration: -- Always Extend all NWOGs -- Above and below only Shows the immediate two NWOGs that are above and below current price. These two NWOGs are recalculated as price moves -- Any that is near current price Any NWOG that is near the current price, this can result in multiple NWOGs being displayed, with some overlapping - Event Horizon only applicable when using the "Above and below only settings" -- Show Date label and type of gap New Day Opening Gap (NDOG) The difference between Yesterday's close and Today's open. Settings NDOG - The Colors in the form of Current/Previous and line style for NDOG - Background color to use for Current/Previous - Number of NDOGs to use by the indicator, default is 1 but price tend to react to previous ones as well - Extend Configuration: -- Always Extend all NDOGs -- Above and below only Shows the immediate two NDOGs that are above and below current price. These two NDOGs are recalculated as price moves -- Any that is near current price Any NDOG that is near the current price, this can result in multiple NDOGs being displayed, with some overlapping -- Show Date label and type of gap Other Settings Number of candles to use in calculation is used to calculate the size of the candles in order to derive the distance from current price. If current candle sizes is more important than over longer period of time then use 14 or near that number Factor multiplier for distance test is the number above times X value. Lower timeframes require a higher number than a larger timeframe. If day trading, a value between 10 and 20 is probably best. If swing trading, a value between 5 and 10 is probably best. Buffer How many candles beyond current price to extend the gaps by. this is helpful to provide cleaner view of the price action
Pine Script™ indicator
by fadizeidan
63
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:
Pine Script™ indicator
by toodegrees
4
ICT NWOG/NDOG (fadi)New Week Opening Gap (NWOG) and New Day Opening Gap (NDOG) are areas on the chart where price tend to react to and has the potential of moving from one gap to the next. These gaps can act as support and resistance zones where price can bounce of, or go through and retest. Areas of interest are the high, low, the Consequent Encroachment (C.E.), which is the middle between high and low of each gap. Event Horizon is the 50% distance between two NWOGs and price tend to react to, and could act as Premium/ Discount between two NWOGs. New Week Opening Gap (NWOG) The difference between Friday close, and Sunday open. Consequent Encroachment (C.E.) is the area between two NWOGs. Settings NWOG - The Colors in the form of Current/Previous and line style for NWOG - Background color to use for Current/Previous - Number of NWOGs to use by the indicator (ICT recommends using minimum of 5) - Extend Configuration: -- Always Extend all NWOGs -- Above and below only Shows the immediate two NWOGs that are above and below current price. These two NWOGs are recalculated as price moves -- Any that is near current price Any NWOG that is near the current price, this can result in multiple NWOGs being displayed, with some overlapping - Event Horizon only applicable when using the "Above and below only settings" New Day Opening Gap (NDOG) The difference between Yesterday's close and Today's open. Settings NDOG - The Colors in the form of Current/Previous and line style for NDOG - Background color to use for Current/Previous - Number of NDOGs to use by the indicator, default is 1 but price tend to react to previous ones as well - Extend Configuration: -- Always Extend all NDOGs -- Above and below only Shows the immediate two NDOGs that are above and below current price. These two NDOGs are recalculated as price moves -- Any that is near current price Any NDOG that is near the current price, this can result in multiple NDOGs being displayed, with some overlapping Other Settings Number of candles to use in calculation is used to calculate the size of the candles in order to derive the distance from current price. If current candle sizes is more important than over longer period of time then use 14 or near that number Factor multiplier for distance test is the number above times X value. Lower timeframes require a higher number than a larger timeframe. If day trading, a value between 10 and 20 is probably best. If swing trading, a value between 5 and 10 is probably best. Buffer How many candles beyond current price to extend the gaps by. this is helpful to provide cleaner view of the price action
Pine Script™ indicator
by fadizeidan
86
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.
Pine Script™ indicator
by rage_harder_
115
ICT Opening Gaps [MK] The indicator plots levels which can act as magnets to price. The levels are gap areas which are used within the ICT (The Inner Circle Trader) trading system. The indicator plots 5 areas of interest: 1: Daily Volume Imbalances - Referencing the Daily chart, boxes are calculated from close to open between all candles. Candles which have only 'wicks' between the close and open prices are considered 'volume imbalances. The boxes can then be shown on LTFs to aid in decision making for intraday traders. Imbalances can be limited to a maximum amount shown and mitigated imbalances can be removed from the chart. All colors can be customised. Volume Imbalance example: 2: NWOG - New Week Opening Gap - Plotted from Friday Close at 1659 to Sunday Opening at 1800 (EST). The current NWOG can be displayed on its own, or previous weeks can also be shown (ICT recommends the previous 4 weeks also). Boxes are plotted with a midline and all colors can be customised. New Week Opening Gaps example: 3. NDOG - New Day Opening Gaps - Plotted from day close at 1659 (EST) to restart at 1800 (EST). All colors can be customised. These gaps can be very small so line widths of 3+ are recommended if the lines are to be seen on HTFs New Day Opening Gap example: 4. New Opening Gap - Plotted from close at 1659 to Session open at 0930 (EST). These areas can possibly be closed/filled after opening at some time. The indicator will draw box to the right of price which shows if the Opening Gap is UP or DOWN. The box will change color to show up or down, or text alone can be used instead of the box. All colors can be customised. New Opening Gap Box example: 5. 0930 Opening Line - Draws a horizontal line from the opening price at 0930 (EST) to the last bar on the chart. This is the level used to calculate the New Opening Gap. All colors can be customised. 0930 Opening Line example:
Pine Script™ indicator
by malk1903
70