The futures market closes for the weekend Friday afternoon and doesn't reopen until Sunday evening. The gap between that close and the Sunday open is a real, untraded price zone — the new week opening gap.
Friday session
Price trades normally into the weekly close.
FRIDAY~4:59 PMSUN 6 PMDISPLACERETEST
Alternates bullish / bearish automatically
It doesn't always look like this
NWOG vs. NDOG — NWOG is the weekend break: Friday's close (around 4:59 PM EST) to Sunday's reopen (around 6:00 PM EST). The daily version, Monday through Thursday, is the New Day Opening Gap (NDOG).
Usually wider than an NDOG — two full days of closed trading means more room for news and sentiment to shift before the market can react.
Read off the weekly or daily chart — not something that forms candle by candle; it's just Friday's close price against Sunday's open price.
Often paired with its own daily gap — the Sunday-open candle can also carry its own NDOG on lower timeframes; the two are separate zones that can overlap.