Opening Gap + Void (ICT) Indicator for MetaTrader 5 Download - Free

The Opening Gap + Void Indicator in MetaTrader 5 indicators is an efficient tool for identifying price gaps that occur when a new candlestick opens. 

This indicator automatically displays price gap areas on the chart. If the price fills these gaps, the indicator removes those sections 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 behavior.

Indicator Specifications Table

The table below displays the specifications of the Opening Gap + Void Indicator:

Opening Gap + Void Indicator in an Uptrend

According to the USD/CHF currency pair chart in the 30-minute timeframe, after the formation of a price gap, this area has acted as a support level. As the price returns to this zone, it prevents further decline and creates a suitable opportunity for entering a long (buy) trade.

Opening Gap + Void Indicator in a Downtrend

When the price reaches these levels, the area acts as resistance (Resistance) and initiates a decline.

In the 15-minute chart of Bitcoin (BTC), after the formation of a gap, the price retraces to the gap zone in a corrective move, preventing further upward momentum.

Indicator Settings

The details of the Gap + Void Indicator are displayed in the image below:

• NYOG_Show: Annual gap indicator
• NYOG_LookBack: Default period for displaying annual gap
• NMOG_Show: Monthly gap indicator
• NMOG_LookBack: Default period for displaying monthly gap
• NWOG_Show: Weekly gap indicator
• NWOG_LookBack: Default period for displaying weekly gap
• NDOG_Show: Daily gap indicator
• NDOG_LookBack: Default period for displaying daily gap
• NDOH_Show: Gap indicator
• Invalidation: Indicates previously broken levels

Conclusion

The Opening Gap + Void Indicator is a practical tool for detecting sudden price changes in financial markets. The gaps identified by this indicator function as support and resistance levels.

Traders utilizing the ICT style and Smart Money concepts can integrate this indicator into their strategies to enhance market analysis and refine trade execution.