cephxs / New X Opening Gaps [Pro +]NWOG & NDOG - OPENING GAPS
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 PROBLEM WITH GAP INDICATORS
Most gap indicators dump every single gap on your chart and call it a day. You end up with 50 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 and I explain why below.
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, dynamic with less volatile time periods
- 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
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
Cleanup Interval: Controls how quickly out-of-range gaps disappear
- Immediately: Gaps hide/show every bar as price moves
- 5 / 15 / 30 Minutes: Gaps only update visibility at interval boundaries - reduces visual noise during choppy price action
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. Use delayed cleanup intervals if you want gaps to "stick around" a bit longer before disappearing.
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 Display
Show NWOGs: Master toggle
Extension Mode: "Extend Live" or "Extend to Week Close"
Maximum NWOGs: Limit displayed gaps (1-50)
Show Void/Overlap Gaps: Toggle each type independently
Show NWOG Labels: Toggle gap labels
NDOG Display
Show NDOGs: Master toggle
Extension Mode: "Extend Live" or "Extend to Day Close"
Maximum NDOGs: Limit displayed gaps (1-50)
Show NDOG Labels: Toggle gap labels
Filter Settings
Size Filter: Filter None / Filter Insignificant / Juicy Gaps Only
Only Show Near Price: Enable/disable distance filtering
Distance Filter: Really Close / Balanced / Slightly Far
Cleanup Interval: Immediately / 5 Minutes / 15 Minutes / 30 Minutes - controls how often gaps update visibility
ATR Period: Period for ATR calculation (default: 14)
Right Edge Offset: How many bars ahead boxes extend
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: Week opens Sunday 17:00 ET, closes Friday 17:00 ET
Futures: Week opens Sunday 18:00 ET, closes Friday 16:15 ET
Stocks/Other: Uses session-based detection
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 (potential reversal setup). Different traders prefer different types.
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.
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
Base: Initial NWOG visualization
Made with ❤️ by fstarlabs
