1stfvg

MW - ICT Open Range Gap MW - ICT Open Range Gap Displays two key ICT concepts anchored to the RTH session transition: the Open Range Gap and the 1st Fair Value Gap of the New York morning session. ───────────────────────────── RTH OPEN RANGE GAP ───────────────────────────── Visualizes the price gap between the previous session close (~4:14 PM ET) and the RTH open (9:30 AM ET). The zone is subdivided into Premium (upper half) and Discount (lower half) relative to the 50% CE, with optional 25/75% quadrant lines and 0/1 boundary labels. Direction-aware: Premium and Discount placement adapts automatically depending on whether the gap is bullish or bearish. Mitigation tracking: the gap is considered mitigated when price closes at or beyond the 50% CE (Consequent Encroachment), consistent with ICT delivery principles. Once mitigated, the fill fades to a neutral color. Mitigation is monitored continuously across all visible gaps, not just the current session. Unmitigated gaps can optionally be extended forward across subsequent sessions until the CE is reached. Boundary labels display the originating date in DD.MM format (e.g. "0 - 08.04" / "1 - 08.04") for past sessions. ───────────────────────────── 1st FVG (9:31 – 12:00 NY) ───────────────────────────── Detects the first 3-bar Fair Value Gap formed on the 1-minute timeframe within the New York morning window. Computed via request.security_lower_tf for consistency on higher timeframes. Displays border, CE (50%), and 25/75% quadrant lines. Optional extension for Monday's FVG and/or all FVGs within the current trading week. ───────────────────────────── SETTINGS ───────────────────────────── • Configurable history depth (days) • Right-side padding • Disable above a chosen timeframe • Independent color controls for all zone elements • Mitigated fill color • All extends off by default ───────────────────────────── CREDIT ───────────────────────────── Rewritten from scratch, inspired by the original concept from fadizeidan's "ICT Open Range Gap & 1st FVG" (). Built in Pine Script v6.

Indicator

ICT Open Range Gap & 1st FVG (fadi)In his 2024 mentorship program, ICT detailed how price action interacts with Open Range Gaps and the initial 1-minute Fair Value Gap following the market open at 9:30 AM. What is an Open Range Gap? An Open Range Gap occurs when the market opens at 9:30 AM at a higher or lower level compared to the previous day's close at 4:14 PM, primarily relevant in futures trading. According to ICT, there is a statistical probability of 70% that the price action will close 50% or more of the Open Range Gap within the first 30 minutes of trading (9:30 AM to 10:00 AM). What is the First 1-Minute Fair Value Gap? ICT places significant emphasis on the first 1-minute Fair Value Gap (FVG) that forms after the market opens at 9:30 AM. The FVG must occur at 9:31 AM or later to be considered valid. This gap often presents key opportunities for traders, as it represents a temporary imbalance between supply and demand that the market seeks to correct. Understanding and leveraging these patterns can enhance trading strategies by offering insights into potential price movements shortly after market open. ICT Open Range Gap & 1st FVG This indicator is engineered to identify and highlight the Open Range Gaps and the first 1-minute Fair Value Gap. Furthermore, it functions across multiple timeframes, from seconds to hours, catering to various trading preferences. This flexibility is particularly beneficial for traders who favor higher timeframes or wish to observe these patterns' application at broader intervals. Settings The Open Range Gap indicator offers flexible display settings. It identifies the quadrants and provides optional color coding to distinguish them. Additionally, it tracks the "fill" level to visualize how far the price action has progressed into the gap, enhancing traders' ability to monitor and analyze price movements effectively. By default, the Open Range Gap will stop extending at 10:00 AM; however, there is an option to continue extending until the end of the trading day. The 1st Fair Value Gap (FVG) can be viewed on any timeframe the indicator is active on, offering various styling options to match each trader's preferences. While the 1st FVG is particularly relevant to the day it is created, previous 1st FVGs within the same week may provide additional value. This indicator allows traders to extend Monday's 1st FVG, marking the first FVG of the week, or to extend all 1st FVGs throughout the week.

Indicator

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