Diupdate
Auto OTE+ (M1D)
Auto OTE+ finds the latest impulse leg on its own and draws ICT's optimal trade entry on it: the 0.62 to 0.79 retracement pocket. It also draws the leg it measured, so you can see what every level comes from.
How it picks the leg
Swings from the Auto Fib engine. Swings come from TradingView's ZigZag library, the same engine as the built-in Auto Fib Retracement. The default deviation is 2.5 x ATR(10) as a % of price, slightly tighter than Auto Fib's 3, so it measures the intraday swing rather than the whole overnight move. Depth is 10 bars. Raise the deviation to 3 for the bigger swing.
The OTE belongs to the impulse. When the newest leg is shorter than the one before it, the newest leg is the retracement. The pocket is then measured on the impulse before it, not on the pullback.
Direction from the leg. A leg up gives a long OTE, in discount below its 0.5. A leg down gives a short OTE, in premium above its 0.5.
The optimal trade entry is an established Inner Circle Trader concept. This script is original in its implementation of it.
What it draws
The measured leg. A thin dotted line from the swing's start to its extreme.
The pocket. One shaded band from 0.62 to 0.79, blue for a long and red for a short, from the leg's extreme to just past the live candle.
The ratio lines. 1, 0.79, 0.705 (the OTE sweet spot, solid), 0.62, 0.5 EQ and 0. Each runs from the leg to the right and is named at its right end in its own colour. The targets. The leg projected beyond its extreme: -0.27, -0.68, then -1, -2 and -3 STD (one, two and three full leg lengths). On by default, and they can be switched off.
The status card.
A small dark card, top right by default, with these rows:
OTE BULL or BEAR.
POCKET: waiting, at EQ, tapped, held (tapped and since moved away), past 0.79, or failed (back through the start of the leg).
LEG: from and to prices.
SIZE: the leg in points.
FROM: when the leg ran.
SESSION: the kill zone the extreme printed in.
RETRACE: the deepest and the current retracement as a %.
Method and repainting
The leg updates as the swing engine does. While a leg is still forming, its extreme moves with price, so the pocket moves with it. That is inherent to measuring a live swing. Once a new swing confirms, the previous leg is fixed. The deepest retracement is read fresh from the bars since the leg's extreme, not carried over.
Three alerts: price traded into the OTE, price went past 0.79, and price went back through the start of the leg.
Settings
Swings: deviation and depth.
OTE: the pocket's two edges, the measured leg, the ratio lines and the -0.27 to -3 STD targets.
Style: band transparency, right offset and label size.
Status card: on or off, and its position.
Analytics only
This is a study tool. It marks where the OTE of the current impulse sits and how far price has retraced into it. It contains no buy or sell signals. Its alerts announce that price reached a level; they are notifications, not trade instructions.
Disclaimer
This is a decision-support tool for discretionary ICT trading. It is not financial advice, and no market's past behaviour is indicative of future results.
How it picks the leg
Swings from the Auto Fib engine. Swings come from TradingView's ZigZag library, the same engine as the built-in Auto Fib Retracement. The default deviation is 2.5 x ATR(10) as a % of price, slightly tighter than Auto Fib's 3, so it measures the intraday swing rather than the whole overnight move. Depth is 10 bars. Raise the deviation to 3 for the bigger swing.
The OTE belongs to the impulse. When the newest leg is shorter than the one before it, the newest leg is the retracement. The pocket is then measured on the impulse before it, not on the pullback.
Direction from the leg. A leg up gives a long OTE, in discount below its 0.5. A leg down gives a short OTE, in premium above its 0.5.
The optimal trade entry is an established Inner Circle Trader concept. This script is original in its implementation of it.
What it draws
The measured leg. A thin dotted line from the swing's start to its extreme.
The pocket. One shaded band from 0.62 to 0.79, blue for a long and red for a short, from the leg's extreme to just past the live candle.
The ratio lines. 1, 0.79, 0.705 (the OTE sweet spot, solid), 0.62, 0.5 EQ and 0. Each runs from the leg to the right and is named at its right end in its own colour. The targets. The leg projected beyond its extreme: -0.27, -0.68, then -1, -2 and -3 STD (one, two and three full leg lengths). On by default, and they can be switched off.
The status card.
A small dark card, top right by default, with these rows:
OTE BULL or BEAR.
POCKET: waiting, at EQ, tapped, held (tapped and since moved away), past 0.79, or failed (back through the start of the leg).
LEG: from and to prices.
SIZE: the leg in points.
FROM: when the leg ran.
SESSION: the kill zone the extreme printed in.
RETRACE: the deepest and the current retracement as a %.
Method and repainting
The leg updates as the swing engine does. While a leg is still forming, its extreme moves with price, so the pocket moves with it. That is inherent to measuring a live swing. Once a new swing confirms, the previous leg is fixed. The deepest retracement is read fresh from the bars since the leg's extreme, not carried over.
Three alerts: price traded into the OTE, price went past 0.79, and price went back through the start of the leg.
Settings
Swings: deviation and depth.
OTE: the pocket's two edges, the measured leg, the ratio lines and the -0.27 to -3 STD targets.
Style: band transparency, right offset and label size.
Status card: on or off, and its position.
Analytics only
This is a study tool. It marks where the OTE of the current impulse sits and how far price has retraced into it. It contains no buy or sell signals. Its alerts announce that price reached a level; they are notifications, not trade instructions.
Disclaimer
This is a decision-support tool for discretionary ICT trading. It is not financial advice, and no market's past behaviour is indicative of future results.
Catatan Rilis
New look: fib grid, leg lines and leg % badgeThe measured leg now draws as solid HIGH and LOW lines from the candles that made them, in place of the diagonal. A new "Show fib grid" setting adds labelled dotted levels in a dotted frame: 110%, 90%, the OTE, EQ and 25%, with extensions at -25%, -50%, -62%, -75% and -100%. While it's on, it replaces the ratio lines and targets. A small badge in the bottom right corner (top right if the status card is down there) shows how far into the leg price is and what that means: optimal entry, at EQ, past 0.79, waiting or failed.
Follows a new high or low right away
When price runs past the leg's HIGH or LOW, the leg now ends at that new extreme straight away instead of waiting for the swing to confirm. The new "Follow a new extreme right away" setting is on by default and can be turned off. Deviation now defaults to 1.5 and Depth to 7, so the legs follow the intraday swings more closely. Use Reset settings to pick up the new defaults.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.