SMC Midnight Opening Range
Also: Midnight Opening Range, MOR, midnight opening range high, midnight opening range low, midnight opening price
Visual Context Required
This concept requires chart visuals for full understanding.
The SMC Midnight Opening Range is a three-point reference structure defined on the Electronic Trading Hours (ETH) chart using the 12:00 AM–12:30 AM Eastern Time window on any trading day. It consists of three distinct price references: 1. Midnight Opening Price — the price at which the 12:00 AM candle opens. This is the anchor price for the Power Three framework for that trading day (the "Open" in ICT's Power Three: Open, Manipulation, Distribution). 2. Midnight Opening Range High — the highest price reached during the 12:00–12:30 AM window. This level becomes a potential daily high reference. 3. Midnight Opening Range Low — the lowest price reached during the 12:00–12:30 AM window. This level becomes a potential daily low reference. The midnight opening price is the most important of the three references. It represents where the algorithm begins the daily Power Three cycle and is the boundary between what ICT calls a "premium" open (price above midnight open during the RTH session) and a "discount" open (price below midnight open during the RTH session). The midnight opening range high and low define the initial imbalance from which the algorithm will seek to distribute in one direction during the New York session. In a bullish Power Three, price will manipulate below the midnight opening price or below the range low during the London session (Judas swing), then distribute/accumulate above the midnight opening price into the RTH session. In a bearish Power Three, price manipulates above the midnight opening price or range high, then distributes downward. Chart setup requirement: Chart must be set to New York local time on an ETH (electronic trading hours) chart to correctly identify the midnight candle. Do not use UTC or other time zones — the midnight reference is specifically New York midnight. Relationship to ORG: The Opening Range Gap (ORG) is a separate concept using RTH prices only (Friday close to Monday open). The Midnight Opening Range uses ETH prices and resets daily (not weekly). These are complementary, not redundant references. Relationship to NDOG/NWOG: The midnight opening price is the ETH open for each day's "new day" cycle. The NDOG uses the 5pm/6pm bracket (daily maintenance break). The midnight opening range is earlier in the evening session and defines the Power Three daily anchor.
Identification9
- Use an ETH (Electronic Trading Hours) chart — do NOT use RTH-only view.
- Set chart timezone to New York local time (ET).
- Find the 12:00 AM (midnight) candle — this is the first candle of the new trading day in ET.
- Record the opening price of the midnight candle = Midnight Opening Price.
- Find the high and low across the 12:00 AM to 12:30 AM period (first two 15-minute candles, or equivalent).
- Mark three horizontal levels: (1) midnight open price, (2) range high (highest wick/price in window), (3) range low (lowest wick/price in window).
- Extend all three levels forward through the RTH session.
- On a bullish day: midnight open price is the anchor; expect price to consolidate/manipulate below it, then distribute above it.
- On a bearish day: midnight open price is the anchor; expect price to manipulate above it, then distribute below it.
Entry4
- Midnight opening price is not an entry trigger by itself — it is a directional reference.
- Entries are made using PD arrays (FVGs, order blocks) within the context the midnight range establishes.
- If price is below midnight opening price at 9:30 AM RTH open: bias is bullish for the day (discount open); look for long setups.
- If price is above midnight opening price at 9:30 AM RTH open: bias is bearish (premium open); look for short setups.
Target3
- The midnight opening range high is an intraday liquidity target on bullish days.
- The midnight opening range low is an intraday liquidity target on bearish days.
- The midnight opening price itself is a magnetic level — algorithm tends to reprice to it during the session before the final directional move.
Invalidation2
- Price that trades far beyond the range high or low during the London session may have already distributed — the RTH session may continue in that direction rather than reverse.
- Manual intervention events (NFP, FOMC, CPI) may override normal midnight opening range behavior.
Inferred Conditions (Unvalidated)
- The midnight opening range provides earlier clarity than the 9:30 AM RTH open about the algorithm's directional intent for the day.
- Used in combination with the ORG and NWOG/NDOG, the midnight opening price creates a layered reference stack for intraday bias and targeting.
- In the 2025 model, ICT uses the midnight opening range daily (not just on Mondays), making it a routine part of the pre-session preparation process.
ICT Quotes
"this is the midnight opening range, so the first thing you got to do is, obviously find electronic trading hours... you're gonna find midnight... and this is the end at 1230"
"That's the midnight opening price for power three... This high is the midnight opening range. High and this is the low of the Midnight opening range"
Timeframes
Version History1 version
ICT YT - 2025-01-08 - 2025 Lecture Series - SMC Midnight Opening Range.srt
"this is the midnight opening range, so the first thing you got to do is, obviously find electronic trading hours... you're gonna find midnight... and this is the end at 1230. That's the midnight openi…"
First formal introduction of the SMC Midnight Opening Range as a named, structured concept in the 2025 lecture series. Establishes three reference points (midnight open price, range high, range low) and their relationship to Power Three. Identifies ETH chart and New York timezone as required setup. Framed as the 2025 daily anchor for directional bias and range projection.
Notes
The SMC Midnight Opening Range is an evolution of the ICT True Day framework. The True Day begins at midnight New York time (see ict-true-day.yaml), and the midnight opening range is the first actionable structure within that day. In 2025, ICT formalizes this as an explicit three-point structure (open, range high, range low) rather than just the midnight open price alone. Relationship to Power Three (power-three.yaml): The midnight opening price is the "Open" leg of Power Three — the authentic OHLC open from which the algorithm's daily cycle begins. Manipulation is the Judas swing from the midnight open; Distribution is the true directional move. The midnight opening range bounds (high and low) define the initial consolidation zone from which the manipulation phase departs. Distinction from ORG: The ORG (opening-range-gap.yaml) is RTH-only, weekly (Friday close to Monday open), and specifically measures the gap between sessions. The Midnight Opening Range is ETH-based, resets daily, and defines a 30-minute price structure. They coexist as complementary references. ICT introduced this in the 2025 lecture series as part of the SMC (Smart Money Concepts) framework update. The "SMC" prefix in the video title reflects the 2025 rebranding of ICT's framework under the "Smart Money Concepts" label. See also: ict-true-day.yaml, power-three.yaml, opening-range-gap.yaml, new-day-opening-gap.yaml
Asymmetry Notes
The midnight opening price is the symmetrical anchor. The range high and low represent the initial volatility from which the algorithm will choose a direction. On a bullish Power Three day, the range low is the initial manipulation target (Judas swing down) before the true distribution higher. On a bearish Power Three day, the range high is the manipulation target before distribution lower.