Opening Gaps + Breaker (ICT) Indicator for MetaTrader 4 Download - Free

The Opening Gaps + Breaker indicator is a practical tool among MetaTrader 4 indicators. This indicator identifies daily gap areas that act as support and resistance levels, helping traders spot potential trend reversal zones.

It highlights support gaps in green and resistance gaps in red. If the price breaks through any of these areas and forms a Breaker Block (where a support zone turns into resistance or vice versa), the color of that zone changes to blue.

Opening Gaps + Breaker Indicator Specifications

The table below summarizes the specifications of the Opening Gaps + Breaker Block indicator:

Indicator in Bullish Trend

The indicator identifies a gap in the GBP/CHF pair and initially highlights it in red, indicating a resistance zone.

Once the price breaks through this resistance and stabilizes above it, the area transforms into a Breaker Block, now acting as a support zone.

Indicator in Bearish Trend

When a Breaker Block is not formed, gap zones alone can act as price barriers. In the example of the AUD/JPY pair, after the gap forms, the price undergoes a short correction before returning to the area, where it is rejected, preventing further upward movement.

Opening Gaps + Breaker Indicator Settings

The settings section of the Opening Gaps + Breaker Block indicator is shown below:

• New Day Opening Gap Duration: Duration to analyze the new day’s gap
• New Day Opening Gap: Display the new day’s opening gap
• New Week Opening Gap Duration: Duration to analyze the new week’s gap
• New Week Opening Gap: Display the new week’s opening gap

Conclusion

The Opening Gaps + Breaker Block indicator is a powerful tool for identifying sudden price changes in financial markets.

The gaps it highlights can act as support and resistance levels, providing strategic insights for traders.

This indicator is especially useful for traders following the Smart Money and ICT concept, enhancing their trading strategies.