Open Gap + Short (ICT) Indicator Download for MetaTrader 5 - Free - MT4/MT5 Resource

The Opening Gap + Gap indicator in MetaTrader 5 indicator is an effective tool for identifying price gaps that occur when a new candlestick opens.

This indicator automatically displays price gap areas on the chart . If price fills these gaps, the indicator removes those parts from the chart and highlights the remaining space .

By using this indicator, price gaps are identified and considered as support and resistance zones , which can influence price action.

Indicator specification table

The table below shows the specification opening gap + short indicator:

Indicator overview

When a gap forms between two candles, it signals an unexpected change in the market. This indicator shows price gaps caused by factors such as breaking news, major moves, or changes in trader sentiment. Gaps provide traders with valuable information about current market conditions.

The gap initially appears green and its color changes to red once broken.

Gap+Empty Indicator in Uptrend

According to the USD/CHF currency pair chart on the 30-minute time frame , after a price gap formed, this area acted as a support level . When the price returns to this area, it prevents further declines and creates the right opportunity to enter a long (buy) trade .

Gap+void indicator in downtrend

When the price reaches these levels , the area acts as resistance (resistance) and begins to decrease.

In the Bitcoin (BTC) 15-minute chart , after a gap formed, the price pulled back to the gap area to correct , preventing further upward momentum.

Indicator Settings

The details of the Gap+Void indicator are shown below:

• NYOG_Show: Annual Gap Indicator
• NYOG_LookBack: Default period for displaying annual gaps
• NMOG_Show: Monthly gap indicator
• NMOG_LookBack: Displays the default period for monthly gaps
• NWOG_Show: Weekly gap indicator
• NWOG_LookBack: Default period showing weekly gaps
• NDOG_Show: Daily Gap Indicator
• NDOG_LookBack: Default period for showing daily gaps
• NDOH_Show: Gap indicator
• Invalidation: Indicates the previous breakthrough level

Conclusion

The Opening Gap + Void Indicator is a practical tool for detecting sudden price changes in financial markets. The gap functions determined by this indicator are support and resistance levels .

Traders utilizing ICT style and smart money concepts can integrate this indicator into their strategies to enhance market analysis and improve trade execution .