OPEN-SOURCE SCRIPT
Updated ICT Premium/Discount
Guided by ICT mentorship and help from TraderTim and its community, I created this versatile indicator to mark a "Premium/Discount" price range.
This indicator shows the Premium and Discount Zones in an alternative way, manually setting the start of the band and automatically shows the HTF and LTF FVG present only in the set band, having a cleaning of the graph from possible other distractions, so as to be able to have a clear vision clear of the set trading range
The user has the possibility to:
- Choose the start of the interval from the graph by moving the start line
- Choose to show levels 50% - 75% - 25% of the range
- Choose the color, style and size of the lines
- Choose to display FVG LTF or HTF in range
- Choose the FVG mitigation mode
The indicator must be used as shown by the ICT in its concepts, the Premium and Discount zones are nothing more than zones where the price risks retracing, and consequently we can evaluate making entries in the Premium Zone, Sell is evaluated, in the Discoutn Zone they are evaluated as Buy, taking the opposite area as Take Profit
As in the example below:
If anything is unclear, comment below and I will get back to you as soon as possible.
How to change range:
This indicator shows the Premium and Discount Zones in an alternative way, manually setting the start of the band and automatically shows the HTF and LTF FVG present only in the set band, having a cleaning of the graph from possible other distractions, so as to be able to have a clear vision clear of the set trading range
The user has the possibility to:
- Choose the start of the interval from the graph by moving the start line
- Choose to show levels 50% - 75% - 25% of the range
- Choose the color, style and size of the lines
- Choose to display FVG LTF or HTF in range
- Choose the FVG mitigation mode
The indicator must be used as shown by the ICT in its concepts, the Premium and Discount zones are nothing more than zones where the price risks retracing, and consequently we can evaluate making entries in the Premium Zone, Sell is evaluated, in the Discoutn Zone they are evaluated as Buy, taking the opposite area as Take Profit
As in the example below:
If anything is unclear, comment below and I will get back to you as soon as possible.
How to change range:
Release Notes
- Added BG colorRelease Notes
- Added BPR- Removed Mitigation Choices, to allow easy reading of the BPR
- If you want the choice of Mitigation, just change the indicator version and choose V 2.0
To show the BPR, place the start of the range a few Candellas earlier as in the example
Release Notes
- Added Price Range line- Modified Invesion FVG
Release Notes
Added :** IN RANGE **
- VIB and GAP
** OUT OF RANGE **
- GAP
- FVG
- High Low DO NOT TASTE
Release Notes
- Added OTE in Range (Choise Premium if Range is PREMIUM , Choise Discount if Range is DISCOUNT)
Release Notes
Fixed FVG OutsideRelease Notes
- Added OB- Added BOS
Release Notes
- Change FVG OUTSIDERelease Notes
- Fixed Label TextRelease Notes
- Fixed hourRelease Notes
- Added Show Right- Fixed Bug
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.