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...
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...
In the context of general equities, opening price that is substantially higher or lower than the previous day's closing price, usually because of some extraordinarily positive or negative news. Opening gap using as a potential target which market usually trades to.
![ES1!: ICT NWOG/NDOG [Source Code] (fadi)](https://s3.tradingview.com/x/XY0niHGg_mid.png "ICT NWOG/NDOG [Source Code] (fadi)")
![ESH2023: ICT Opening Gaps [MK]](https://s3.tradingview.com/i/iZiHlcag_mid.png "ICT Opening Gaps [MK]")
