This is my quality of life indicator for forex trading using the methods and concepts of ICT. The idea is to automate marking up important price levels and times of the day instead of doing it manually every day.
Killzones
Marks the most volatile times of the day on the chart, during which the intraday high/low usually takes place.
Particularly impactful when there's news released during these times.
London Open (02:00-05:00 EST)
New York Open (08:30-11:00 EST)
London Close (10:00-11:30 EST)
True Day delineation
Vertical line at the start of the "true day" (00:00 EST), start of the algorithmic trading day and aids in visualizing the intraday direction.
New York midnight price level
Noteworthy price level at the start of the "true day".
This price level is referenced by the interbank trading algorithms during the day. Buy below it on bullish days, sell above it on bearish days.
Daily open price level
Reference level for optimal trade entries. Buy below it on bullish days, sell above it on bearish days.
Central Banks Dealers Range (CBDR) (14:00-20:00 EST) & Central Banks Dealers Flout (CBDF) (15:00-24:00 EST) & Asian Range (AR) (20:00-24:00 EST)
The standard deviation lines available are used to make predictions for short-term future highs/lows when the CBDR and AR are smaller than 40 pips.
Trade them by looking for 5/15min key levels that converge with the projection levels.
X days Average Daily Range (ADR)
Default to 5 days back, gives an idea of how much movement to expect intraday when the ADR high/low is converging with CBDR/CBDF/AR standard deviations.
Current Daily Range (CDR)
Used for comparison against the ADR to help determine if there's enough intraday range left to enter a trade.
Dynamically changes color based on percentage of the ADR. Green below 50% of ADR, orange between 50 and 100%, red when CDR exceeds ADR.
All of the above are used in conjunction with each other and higher timeframe levels of importance to find entries and target.
Note: Preferably use New York's time zone for your charts.
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Added Asian Killzone
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Added weekday labels
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Forgot the code that made toggling weekday labels on and off work.
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Added customization options for the stats box
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Added GMT Midnight open price line Fixed a settings bug
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Added 4am open price line (experimental) Added price level labels
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Added some options:
Use bodies or wicks for the ranges.
Timeframe on which the ranges are measured.
Customizable start and end times for the ranges.
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Added customizable number of std. deviations.
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Fixed a weekday display bug when using unorthodox exchanges' data feeds. Also added an offset option to move the text horizontally to get it in a nice spot when it's misaligned due to the exchange used.
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Changed default killzone times for NY open and London close.
Added optional "trueday" deliniation for sundays.
Added standard deviation projection line width option.
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Reverted a couple of things meant for testing purposes that got published (killzone vertical shift and dynamic CBDR box border color).
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Updated the indicator chart image to better reflect the current version.
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Redesigned killzone indicators with optional text labels.
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Text label related killzone option bug fix.
Added option to use the old visual style of killzones.
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Chart timeframe related asian range standard deviation calculation bug fix
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Added PDH and PDL Levels.
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Changed a tooltip.
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Added PMH and PML levels.
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Added New York Lunch to killzones (off by default)
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Fixed NY Lunch history lines/boxes not being removed when history is toggled off.
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Changed PDH/PDL Lines to the previous true day h/l instead of the previous daily candle's h/l.
PDH/PDL Lines now start at the actual high and low.
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Added automatic timezone option (sets the indicator's timezone automatically to New York).
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Fixed asian open killzone box dynamic text color bug.
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Fixed PML/PMH line positioning bug that could occur under certain circumstances.
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gmt open time correction.
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Build 1457
Added Y-offset option for killzone boxes/lines (higher value = closer to price)
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Increased Killzone size limit for better visibility on certain tickers.
@fxdmn, hey man, thanks for the latest update with HTF levels. but are you still working on weekly and monthly levels. I could only see previous day hi/lo. very clean application by the way. thanks so much
fxdmn
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@tradelikeacasino, yeah, I'm adding it later today. I simply didn't finish it before going to bed last night :)
@fxdmn, sorry man, me again :) I don't wanna sound demanding but I have couple ideas. is it possible to merge multiple levels if they are on the same price line. like PMH / PWH etc. And also is it possible to add an option for a right anchor for these levels? with distance/length etc if technically possible. just to avoid clutter on current PA. thanks so much
fxdmn
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@tradelikeacasino, I'll look into some options for the line positions.
tradelikeacasino
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@fxdmn, I know I am a pain in the a** but one more request :( for history feature in the indicator, if it is not a big issue can you add a parameter for how many events should be displayed when history is checked. like for asia ranges, standard deviations etc etc
JubD
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Awesome indicator. Thanks for your hard work!!! What is this Daily Open 1700 hrs NY time?