New Day and New Week Opening Gap ICT Indicator MT5
- Indicatori
- Mehnoosh Karimi
- Versione: 3.1
- Attivazioni: 10
New Day & New Week Opening Gap ICT (NWOG & NDOG) Indicator for MT5
The New Day and New Week Opening Gap ICT NWOG NDOG MT5 indicator is a practical and efficient tool developed for traders working with the MetaTrader 5 platform.
This indicator automatically identifies price gaps formed at the beginning of each new trading day and week, displaying them clearly on the chart. When a trading session ends, the next opening price may differ from the previous close, creating a gap that often influences future price action.
For easy recognition:
- New Week Opening Gaps (NWOG) are highlighted in red
- New Day Opening Gaps (NDOG) are highlighted in green
Indicator Specifications
| Feature | Description |
| Category | Kill Zone – Support & Resistance – ICT |
| Platform | MetaTrader 5 |
| Skill Level | Intermediate |
| Indicator Type | Reversal – Continuation |
| Time Frame | Multi-Timeframe |
| Trading Style | Day Trading – Medium-Term – Long-Term |
| Markets | Forex – Crypto – Stocks – Commodities |
Indicator Overview
Opening price gaps often act as important support and resistance levels. When the market approaches these zones, price reactions may signal either a trend reversal or a continuation of the prevailing trend.
In many cases, the market tends to revisit or partially fill these gaps before resuming its primary direction, making them valuable areas for trade entries and exits.
The indicator also supports the Event Horizon (PD) concept used in ICT trading strategies, which is calculated by averaging daily and weekly opening gaps. This helps traders better understand liquidity zones and market structure.
Uptrend Example
On a 1-hour EUR/USD chart, the indicator marks the weekly opening gap with a red zone. Price action consolidates around this level before initiating a strong bullish move, demonstrating how weekly gaps can influence upward market momentum.
Downtrend Example
In the commodities market, the Arabica Coffee price chart on a 1-hour time frame shows how the indicator performs during a downtrend. Price retraces toward the daily opening gap identified by the indicator, offering a potential sell opportunity in alignment with bearish market structure.
Indicator Settings
- Chart & Object Color Theme: Light background
- NYOG_Show: Annual opening gap display disabled
- NMOG_LookBack: Monthly gap calculation based on the last 5 candles
- NMOG_Show: Monthly opening gap display disabled
- NWOG_LookBack: Weekly gap calculation based on the last 5 candles
- NWOG_Show: Weekly opening gap display enabled
- NDOG_LookBack: Daily gap calculation based on the last 5 candles
- NDOG_Show: Daily opening gap display enabled
- Invalidation: Automatic removal of invalid gap zones enabled
Conclusion
The New Day and New Week Opening Gap ICT NWOG NDOG MT5 indicator is a valuable analytical tool for traders seeking to identify key price levels in MetaTrader 5.
By focusing on daily and weekly opening gaps, it provides a structured and rule-based approach to market analysis. This indicator is especially useful for traders who apply ICT and liquidity-based trading strategies, while remaining practical and effective for traders of all experience levels.
