The concepts of NMOG (New Month Opening Gap), NWOG (New Week Opening Gap), and NDOG (New Day Opening Gap) are foundational in defining critical areas on the chart where price is highly likely to react. These opening gaps have a strong tendency to act as support and resistance zones where price can bounce off, slice through, or retest as it moves from one gap level to the next.
Within these gaps, the primary areas of interest are the High, the Low, and the Consequent Encroachment (C.E.)—which represents the exact 50% midpoint between the gap's high and low. For wider gaps, traders should also monitor granular sub-levels, specifically the Quadrants (25%, 75%) and the Eighths/Octants (12.5%, 37.5%, 62.5%, 87.5%).
2. Logic
This indicator systematically maps historical and current gaps to automate technical structure for the trader. The core logic executes the following:
2.1. New Month Opening Gap (NMOG): Tracks the gap between the previous month's close and the new month's open.
2.2. New Week Opening Gap (NWOG): Tracks the gap between Friday's close and Sunday's open.
2.3. New Day Opening Gap (NDOG): Tracks the gap between yesterday's close and today's open. This is split into Extended Trading Hours (ETH) representing the true Futures market close/open, and Regular Trading Hours (RTH) acting as a hybrid gap to true market open.
2.4. Event Horizon (EH): Automatically calculates and plots the 50% (C.E.) distance between ANY two consecutive inefficiencies of the same type (e.g., between two NWOGs). Price tends to react heavily to this EH line, utilizing it as a Premium/Discount divider. Update: Event Horizon (EH) midpoints are calculated and plotted between NXOGs. Instead of relying on the chronological date or the order of appearance, the EH engine is now strictly mapped to actual vertical price proximity on your chart.
2.5. Sub-level Auto-Filtering: Incorporates a dynamic minimum range filter. This logic automatically hides Quadrants and Octants if a gap is too narrow, preventing visual chart clutter, and only reveals them when the gap size meets your designated point threshold.
2.6. Standard Deviation (SD) Projections: Integrated in the NXOG indicator, along with powerful proximity and equidistance filters to keep your charts completely pristine and free of visual clutter.
History Limit: Define the exact maximum number of historical gaps displayed on the chart for each specific timeframe to manage screen real estate.
3.2. General Settings & Core Enhancements
E-MRF (Equidistant Minimum Range Filter): A brand new intelligent filtering system. It automatically calculates the physical point distance between projected levels. If a gap is too narrow and lines become compressed, it systematically hides the densest lines first (Octants, then Quadrants) ensuring your chart remains clean and never exceeds drawing limits.
Independent E-MRF for NXOG and SD: The Equidistant Minimum Range Filter (E-MRF) has been split into two separate settings. Defining independent minimum point thresholds for the core NXOG lines and the Standard Deviation (SD) projections. This allows to keep tight core gaps visible while aggressively filtering out visually cluttered SD lines on narrow ranges.
Min NXOG Range: You can now filter out insignificant, micro-gaps by setting a minimum point threshold required for a gap to even be plotted.
NxOG Extension: Fully configurable right-side extension. You can now define exactly how many bars into the future the current and historical gaps project.
Extend NxOG to Present: A powerful new rendering toggle. When checked (default), historical gaps project all the way to the current live candle. When unchecked, each gap will intelligently and strictly terminate at the exact end of its respective session. For example, Daily ETH gaps will end exactly at 16:59, Weekly gaps end exactly at Friday 16:59, and Monthly gaps terminate on the final trading day of the month.
Extend WeekEnd NDOG to End of Week: This specialized toggle becomes available when Extend NxOG to Present is disabled. It specifically targets the weekend gap (from Friday's close to Sunday's open) and forces it to extend through the entire current week until Friday's close. This allows you to preserve your critical macro weekly-open reference level all week long, while simultaneously keeping your standard daily gaps neatly confined to their individual days.
Standard Deviation projections dynamically respect these variable boundaries: matching the exact length and termination point of their parent NXOG.
3.3. Lines & Boxes Settings
Colors and Line Styles: Customize the borders and the C.E. line. The settings feature independent color pairs: the first color dictates the "Current" active gap, while the second color is applied to all "Previous" historical gaps.
Event Horizon: Toggle the EH connection lines between identical gaps and adjust their style and color.
Backgrounds: Toggle shaded box fills for the gaps and assign independent color schemes for current versus historical gaps.
3.4. Quadrants & Octants
Quadrant Levels: Toggle the 25% and 75% internal gap lines.
Octants Levels: Toggle the 12.5%, 37.5%, 62.5%, and 87.5% lines.
Min Filter (points): Input a minimum gap range (in full points/dollars) required to plot Quadrants and Octants. This is crucial for filtering out visual noise on smaller assets.
3.5. Full Standard Deviation (SD) Implementation
PRF (Proximity Range Filtering): Because historical gaps project forward, plotting SDs for every past gap would result in massive chart clutter. PRF solves this by ONLY plotting SD lines for historical gaps that are within a defined point-proximity to the current live price.
Auto-SD Engine: When enabled, the indicator tracks exactly how far price travels and dynamically renders SD levels only where price has actively explored. It permanently remembers the absolute highest highs and lowest lows, restoring the explored lines perfectly even if PRF temporarily hides them.
SD Direction Setting: Full control over your SD plotting. Choose to project SD lines strictly Above the NXOG, strictly Below, or dynamically Above + Below.
3.6. NxOG SD Selector New feature that gives you control over your Standard Deviation (SD) projections. Instead of plotting SDs for every gap on the chart, you can now isolate and project SDs for specific gap types and specific historical instances directly from the settings panel.
New Settings Breakdown:
NxOG SD Selector: The master checkbox to enable specific SD targeting.
NxOG Type Menu: A dropdown to select which gap type you want to target (NDOG ETH, NDOG RTH, NWOG, or NMOG).
Format String Input: A text field where you define exactly which historical instances of that gap should display SDs by using bracketed numbers.
How to use the Format String: The format string uses numbers enclosed in curly brackets to target gaps chronologically. {1} represents the current (most recent) gap in time, {2} is the previous one, {3} is the one before that, and so on.
Example 1: Targeting specific NWOGs Select NWOG from the menu and type {1} {3} into the format string. The indicator will plot Standard Deviations for the current NWOG, skip the second one, and plot SDs for the third NWOG back in time.
Example 2: Targeting specific NDOG ETHs Select NDOG ETH from the menu and type {1} {3} {7} {10} into the format string. The indicator will project SDs for the 1st, 3rd, 7th, and 10th most recent NDOG ETHs on your chart.
Note: If you accidentally input a number that is higher than your set maximum history for that specific NxOG, the indicator will intelligently ignore it to prevent plotting errors and keep your chart clean.
3.7. Pane Labels
Chart Labels: Toggle general text annotations directly on the pane, complete with customizable offset, font styling, and background colors.
Label Data: Granular checkboxes allow you to selectively display Gap Name, Gap Date, Gap Size, Price, Level Fractions (/), Level Decimals (.), and Level Percentages (%).
Granular Toggles: Individually activate labels for Quadrants, Octants, and Event-Horizons to suit your specific analytical needs.
3.8. Hover Tooltip Labels
Tooltip Engine: A clean UI feature allowing you to hover your mouse over any gap boundary to reveal a non-intrusive tooltip.
Tooltip Data: Toggle specific data points to show on hover, including Name, Price, Date, and Size.
Sub-Level Tooltips: Extend hover functionality to internal Quadrants, Octants, and Event-Horizon lines for maximum clarity without crowding the chart pane.
3.9. Advanced Labeling & Dynamic Tooltips
Independent Pane Labels: NG (NxOG) levels and SD levels now have entirely separate label configurations. You can individually toggle Price, Fractions (/), Decimals (.), and Percentages (%) for the main gaps versus the standard deviations.
Enhanced Hover Tooltips: Tooltips have been re-ordered for a cleaner top-to-bottom reading experience (Name, Date, Price, GAP Size).
Dynamic Formatting: Tooltips now automatically capitalize High/Low and accurately prepend the specific gap identifier to the level (e.g., NDOG ETH: SD +0.5 or NWOG: Close / High).
Vertical Price Sorting: The indicator now simultaneously collects all active NXOGs (based on your history settings), sorts them sequentially by their exact vertical price levels, and calculates midpoints dynamically based on where they physically sit on the y-axis.
True Adjacency Pairing: EHs are now precisely mapped only between NXOGs that are direct nearest neighbors in price.
Intelligent Wedging Filter: We have eliminated false/overlapping EHs. The system actively scans the price scale and will strictly not draw an EH between two gaps if there is another NXOG physically wedged between them in price.
Engine Optimization: The EH line drawing engine has been highly optimized to seamlessly recycle and update existing lines rather than destroying and recreating them on every tick, drastically improving rendering performance.
4. Under the Hood: Engineered for Performance
Built entirely from the ground up using the latest Pine Script™ v6 architecture, this indicator utilizes a highly optimized Object-Oriented Programming (OOP) approach to deliver a lightning-fast, reliable charting experience.
Custom Data Structures: Gaps, historical tracking, and visual themes are bundled into custom User-Defined Types (UDTs). This modularity ensures the script executes exceptionally fast while consuming minimal system memory.
Dynamic Visual Memory Management: Lines, boxes, and labels are intelligently updated, reused, and cleanly garbage-collected when a gap rolls off the history limit. This guarantees a smooth, lag-free experience and prevents max-drawing limits from being reached.
Unified Processing Engine: No running of redundant loops here: all gap filtering, rendering, and Event Horizon proximity calculations are handled in a single-pass array loop.
Native Box Rendering: This script uses native v6 Box objects, the indicator plots perfectly seamless, transparent backgrounds that automatically conform to gap dimensions without visual bleeding or charting lag.
Master-Dependent Input Controls: The settings panel is now fully dynamic. All sub-settings are natively linked to their respective Master Switches (NDOG ETH, NDOG RTH, NWOG, NMOG).
Auto-Graying Logic: When you uncheck a main Master Switch, all related sub-settings (colors, line widths, history length, etc.) will automatically gray out. This eliminates menu clutter and prevents confusion over which settings are currently active on your chart.
Advanced Logic Chaining: Nested sub-features like Event-Horizons (E.H.) and Backgrounds (BG) now use smart dual-condition logic. Their specific customization inputs will only become interactive if both the main Gap switch AND the specific sub-feature checkbox are enabled.
Global Menu Cleanup: This dynamic gray-out logic has also been seamlessly applied to the Quadrants, Octants, Labels, and Tooltips sections.
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