NWOG & NDOG - Opening Gaps 🧪 [Pro +] | cephxs

NWOG & NDOG - OPENING GAPS 🧪 [Pro +]
Smart Gap Detection with Intelligent Filtering

Visualizes New Week Opening Gaps (NWOGs) and New Day Opening Gaps (NDOGs) with built-in intelligence to show you only what matters. No more cluttered charts with gaps from 3 months ago that price will never revisit.

The Display chart is on default settings with the size filter set to "Juicy Gaps only"

THE PROBLEM WITH GAP INDICATORS
Most gap indicators dump every single gap on your chart and call it a day. You end up with 100+ boxes cluttering your screen, half of which are miles away from current price and the other half are so tiny they're basically noise.

This one's different (That's what they all say).

SMART FILTERING (THE GOOD STUFF)
Two filters work together to keep your chart clean:

• Size Filter: Uses ATR-based detection to filter out insignificant gaps
  - Filter None: Show everything (if you really want chaos)
  - Filter Insignificant: Hide the micro-gaps that don't matter
  - Juicy Gaps Only: Only show gaps worth paying attention to (Mostly for HTF trading)
  
  
• Distance Filter: Only displays gaps within range of current price
  - Really Close: 0.5 ATR - tight focus on immediate levels
  - Balanced: 1 ATR - sweet spot for most traders
  - Slightly Far: 3 ATR - wider view for swing traders
  - ✨ Or just turn off the filter by distance and it becomes like other indicators ✨

The magic: gaps appear and disappear as price moves toward or away from them. Old gaps that price has left behind fade out, and gaps that become relevant fade back in. Remove auto scaling if price is not trending and gaps keep flashing in and out.

GAP TYPES EXPLAINED
New Week Opening Gaps (NWOGs):
The gap between Friday's close and Monday's open. These form over the weekend when markets are closed and often act as significant support/resistance.

Two classifications:

• Void Gaps: Gap direction aligns with Friday's candle direction (continuation)
  
• Overlap Gaps: Gap direction conflicts with Friday's candle (potential reversal)
  

New Day Opening Gaps (NDOGs):
The gap between one day's close and the next day's open. Smaller but frequent - useful for intraday traders looking for fill targets.

FEATURES

• Automatic Week/Day Detection: Handles forex (17:00 ET open) and futures (18:00 ET open) correctly
  
• DST-Aware: Uses New York timezone with automatic daylight saving adjustments
  
• 50% Equilibrium Line: Marks the midpoint of each gap - key level for entries
  
• Days Ago Labels: Shows how old each gap is at a glance
  
• Extension Modes: Choose between live-extending boxes or fixed-width boxes
  
• Separate Color Schemes: Different colors for void vs overlap NWOGs, bullish vs bearish NDOGs
  

INPUTS
NWOG/NDOG Display

• Show NWOGs / NDOGS: Master toggle
  
• Extension Modes:
• Maximum NWOGs: Limit displayed gaps
  
• Show Void/Overlap Gaps: Toggle each type independently
  

Filter Settings

• Size Filter:
• Only Show Near Price: Enable/disable distance filtering
  
• Distance Filter: Really Close / Balanced / Slightly Far
  

Styling

• Box Transparency: Fill and border opacity
  
• Midline Style: Solid / Dotted / Dashed
  
• Label Style: Simple ("NWOG, 5d ago") or Descriptive ("NWOG (Void Bull), 5d ago")
  
• Label Size: Tiny / Small / Normal / Large
  

RECOMMENDED SETTINGS
For intraday (1m-15m):

• Size Filter: Filter Insignificant
  
• Distance Filter: Really Close or Balanced
  
• Show NDOGs: On
  
• Maximum NDOGs: 5-10
  

For swing trading (1H-4H):

• Size Filter: Juicy Gaps Only
  
• Distance Filter: Balanced or Slightly Far
  
• Show NWOGs: On
  
• Maximum NWOGs: 10-20
  

TIMEFRAME NOTES
Works on daily timeframe and below. Above daily, the indicator disables itself since NWOG/NDOG gap detection requires daily open/close data.

ASSET SUPPORT
Automatically handles different market open times:

• Forex:
• Futures:
• Stocks/indices:

FAQ
Why do gaps appear and disappear?
That's the distance filter working. As price moves, gaps that were far away become relevant and appear. Gaps that price leaves behind disappear. This keeps your chart focused on actionable levels.

What's the difference between void and overlap gaps?
Void gaps continue Friday's direction (trend continuation). Overlap gaps conflict with Friday's direction and don't actually have a volume gap in price. Different traders prefer different types so i chose to differentiate them.

Why can't I see any gaps?
Check your filter settings. "Juicy Gaps Only" with "Really Close" distance filter is very selective. Try "Filter Insignificant" with "Balanced" for more gaps. Or simply turn off the filter if you are on an asset that has very few/no gaps... The indicator has gone through rigorous testing.

DISCLAIMER

This indicator is for educational purposes only. Opening gaps are one tool among many - they don't guarantee fills or reversals. Always use proper risk management and never trade based on a single indicator. Past gap fills don't guarantee future performance. Do your own analysis.

CHANGELOG

• Pro +: Added smart size/distance filtering, void/overlap classification, NDOG support, DST-aware timezone handling. Tradingview handles the actual time shift.
  
• Base: Initial NWOG visualization
  

Made with ❤️ by cephxs