ICT / Price Action Discussion Thread

[Gymini]

For those that follow the ICT community, there has been a lot of discussion on the gap that forms when globex trading opens up on Sunday (NWOG). This concept is very similar to something I had already been using so I reworded that to create an indicator that displays the last 3 gaps for your trading pleasure:

A few caveats. This indicator relies on pulling data from your charts. If you want the last 3 weeks of gaps, I suggest having at least 15 days of data on the chart. I like to keep my charts clean so the default is to chart these on the right margin (expansion area) of your chart. You need to make sure you have that activated (I have 5 bars in the image above). If you choose to have them drawn across the chart (showOnRight = no), they will only draw for the current day. You will have to change the code if you want it to show across the entire chart. Again, I find that too busy as I am using this for day trading.
You can also toggle to show labels or bubbles that indicate which area is this week, last week, two weeks ago. One last thing - you can change the indicator timeframe from weekly to daily to get new day opening gaps (NDOG) as well. This was mostly a quick and dirty effort, I'm sure there are ways to simplify the code to make it easier to maintain if anyone is up for it...I'm happy with it for now.

# Global Color setup
# Created by @tony_futures inspired by ICT concept
DefineGlobalColor("weekly", Color.DARK_ORANGE);
DefineGlobalColor("weekly2", CreateColor(136, 93, 100));
DefineGlobalColor("weekly3", COLOR.PLUM);

#Calculate the gaps and the midpoints
input aggregationPeriod = AggregationPeriod.WEEK;
def weeklyClose = close(period = aggregationPeriod);
def weeklyOpen = open(period = aggregationPeriod);
def weeklyChange = weeklyClose != weeklyClose[1];
def prevWeeklyClose = if weeklyChange then Round(weeklyClose[1],2) else prevWeeklyClose[1];
def newWeekOpen = if weeklyChange then Round(weeklyOpen,2) else newWeekOpen[1];
def gapUp = newWeekOpen > prevWeeklyClose;
def halfAmount = AbsValue(newWeekOpen - prevWeeklyClose) / 2;
def halfGap = if gapUp then (prevWeeklyClose + halfAmount) else (newWeekOpen + halfAmount);
def oneBackClose = if weeklyChange then prevWeeklyClose[1] else oneBackClose[1];
def oneBackOpen = if weeklyChange then newWeekOpen[1] else oneBackOpen[1];
def twoBackClose = if weeklyChange then oneBackClose[1] else twoBackClose[1];
def twoBackOpen = if weeklyChange then oneBackOpen[1] else twoBackOpen[1];
def halfAmount2 = AbsValue(oneBackOpen - oneBackClose) / 2;
def gapUp2 = oneBackOpen > oneBackClose;
def halfGap2 = if gapUp2 then (oneBackClose + halfAmount2) else (oneBackOpen + halfAmount2);
def halfAmount3 = AbsValue(twoBackOpen - twoBackClose) / 2;
def gapUp3 = twoBackOpen > twoBackClose;
def halfGap3 = if gapUp3 then (twoBackClose + halfAmount3) else (twoBackOpen + halfAmount3);

input plotLines = yes;
def Today = GetLastDay() == GetDay();
input showOnRight = yes;
def exp = if showOnRight then IsNaN(close[1]) else yes;

plot week1 = if exp and Today and plotLines then prevWeeklyClose else Double.NaN;
week1.setDefaultColor(GlobalColor("weekly"));
week1.setLineWeight(2);
week1.hideBubble();

plot week2 = if exp and Today and plotLines then newWeekOpen else Double.NaN;
week2.setDefaultColor(GlobalColor("weekly"));
week2.setLineWeight(2);
week2.hideBubble();

plot week3 = if exp and Today and plotLines then oneBackClose else Double.NaN;
week3.setDefaultColor(GlobalColor("weekly2"));
week3.setLineWeight(2);
week3.hideBubble();

plot week4 = if exp and Today and plotLines then oneBackOpen else Double.NaN;
week4.setDefaultColor(GlobalColor("weekly2"));
week4.setLineWeight(2);
week4.hideBubble();

plot week5 = if exp and Today and plotLines then twoBackClose else Double.NaN;
week5.setDefaultColor(GlobalColor("weekly3"));
week5.setLineWeight(2);
week5.hideBubble();

plot week6 = if exp and Today and plotLines then twoBackOpen else Double.NaN;
week6.setDefaultColor(GlobalColor("weekly3"));
week6.setLineWeight(2);
week6.hideBubble();

plot halfWay = if exp and Today and plotLines then halfGap else Double.NaN;
halfWay.setDefaultColor(Color.GRAY);
halfWay.hideBubble();

plot halfWay2 = if exp and Today and plotLines then halfGap2 else Double.NaN;
halfWay2.setDefaultColor(Color.GRAY);
halfWay2.hideBubble();

plot halfWay3 = if exp and Today and plotLines then halfGap3 else Double.NaN;
halfWay3.setDefaultColor(Color.GRAY);
halfWay3.hideBubble();

input showBubbles = no;
AddChartBubble(showBubbles and exp and !exp[1], if gapUp then week1 else week2,"Current",GlobalColor("weekly"),no);
AddChartBubble(showBubbles and exp and !exp[1], if gapUp2 then week3 else week4,"Previous",GlobalColor("weekly2"),no);
AddChartBubble(showBubbles and exp and !exp[1], if gapUp3 then week5 else week6,"Two Back",GlobalColor("weekly3"),no);
input showLabels = no;
AddLabel(showLabels,"Current", GlobalColor("weekly"));
AddLabel(showLabels,"Previous", GlobalColor("weekly2"));
AddLabel(showLabels,"Two Back", GlobalColor("weekly3"));

thank you for this... just started to learn ICT concepts recently and have found FVG script on here but i dont think there has been much interest coding ICT scripts for TOS

 

[tenacity11]

For those that follow the ICT community, there has been a lot of discussion on the gap that forms when globex trading opens up on Sunday (NWOG). This concept is very similar to something I had already been using so I reworded that to create an indicator that displays the last 3 gaps for your trading pleasure:

A few caveats. This indicator relies on pulling data from your charts. If you want the last 3 weeks of gaps, I suggest having at least 15 days of data on the chart. I like to keep my charts clean so the default is to chart these on the right margin (expansion area) of your chart. You need to make sure you have that activated (I have 5 bars in the image above). If you choose to have them drawn across the chart (showOnRight = no), they will only draw for the current day. You will have to change the code if you want it to show across the entire chart. Again, I find that too busy as I am using this for day trading.
You can also toggle to show labels or bubbles that indicate which area is this week, last week, two weeks ago. One last thing - you can change the indicator timeframe from weekly to daily to get new day opening gaps (NDOG) as well. This was mostly a quick and dirty effort, I'm sure there are ways to simplify the code to make it easier to maintain if anyone is up for it...I'm happy with it for now.

# Global Color setup
# Created by @tony_futures inspired by ICT concept
DefineGlobalColor("weekly", Color.DARK_ORANGE);
DefineGlobalColor("weekly2", CreateColor(136, 93, 100));
DefineGlobalColor("weekly3", COLOR.PLUM);

#Calculate the gaps and the midpoints
input aggregationPeriod = AggregationPeriod.WEEK;
def weeklyClose = close(period = aggregationPeriod);
def weeklyOpen = open(period = aggregationPeriod);
def weeklyChange = weeklyClose != weeklyClose[1];
def prevWeeklyClose = if weeklyChange then Round(weeklyClose[1],2) else prevWeeklyClose[1];
def newWeekOpen = if weeklyChange then Round(weeklyOpen,2) else newWeekOpen[1];
def gapUp = newWeekOpen > prevWeeklyClose;
def halfAmount = AbsValue(newWeekOpen - prevWeeklyClose) / 2;
def halfGap = if gapUp then (prevWeeklyClose + halfAmount) else (newWeekOpen + halfAmount);
def oneBackClose = if weeklyChange then prevWeeklyClose[1] else oneBackClose[1];
def oneBackOpen = if weeklyChange then newWeekOpen[1] else oneBackOpen[1];
def twoBackClose = if weeklyChange then oneBackClose[1] else twoBackClose[1];
def twoBackOpen = if weeklyChange then oneBackOpen[1] else twoBackOpen[1];
def halfAmount2 = AbsValue(oneBackOpen - oneBackClose) / 2;
def gapUp2 = oneBackOpen > oneBackClose;
def halfGap2 = if gapUp2 then (oneBackClose + halfAmount2) else (oneBackOpen + halfAmount2);
def halfAmount3 = AbsValue(twoBackOpen - twoBackClose) / 2;
def gapUp3 = twoBackOpen > twoBackClose;
def halfGap3 = if gapUp3 then (twoBackClose + halfAmount3) else (twoBackOpen + halfAmount3);

input plotLines = yes;
def Today = GetLastDay() == GetDay();
input showOnRight = yes;
def exp = if showOnRight then IsNaN(close[1]) else yes;

plot week1 = if exp and Today and plotLines then prevWeeklyClose else Double.NaN;
week1.setDefaultColor(GlobalColor("weekly"));
week1.setLineWeight(2);
week1.hideBubble();

plot week2 = if exp and Today and plotLines then newWeekOpen else Double.NaN;
week2.setDefaultColor(GlobalColor("weekly"));
week2.setLineWeight(2);
week2.hideBubble();

plot week3 = if exp and Today and plotLines then oneBackClose else Double.NaN;
week3.setDefaultColor(GlobalColor("weekly2"));
week3.setLineWeight(2);
week3.hideBubble();

plot week4 = if exp and Today and plotLines then oneBackOpen else Double.NaN;
week4.setDefaultColor(GlobalColor("weekly2"));
week4.setLineWeight(2);
week4.hideBubble();

plot week5 = if exp and Today and plotLines then twoBackClose else Double.NaN;
week5.setDefaultColor(GlobalColor("weekly3"));
week5.setLineWeight(2);
week5.hideBubble();

plot week6 = if exp and Today and plotLines then twoBackOpen else Double.NaN;
week6.setDefaultColor(GlobalColor("weekly3"));
week6.setLineWeight(2);
week6.hideBubble();

plot halfWay = if exp and Today and plotLines then halfGap else Double.NaN;
halfWay.setDefaultColor(Color.GRAY);
halfWay.hideBubble();

plot halfWay2 = if exp and Today and plotLines then halfGap2 else Double.NaN;
halfWay2.setDefaultColor(Color.GRAY);
halfWay2.hideBubble();

plot halfWay3 = if exp and Today and plotLines then halfGap3 else Double.NaN;
halfWay3.setDefaultColor(Color.GRAY);
halfWay3.hideBubble();

input showBubbles = no;
AddChartBubble(showBubbles and exp and !exp[1], if gapUp then week1 else week2,"Current",GlobalColor("weekly"),no);
AddChartBubble(showBubbles and exp and !exp[1], if gapUp2 then week3 else week4,"Previous",GlobalColor("weekly2"),no);
AddChartBubble(showBubbles and exp and !exp[1], if gapUp3 then week5 else week6,"Two Back",GlobalColor("weekly3"),no);
input showLabels = no;
AddLabel(showLabels,"Current", GlobalColor("weekly"));
AddLabel(showLabels,"Previous", GlobalColor("weekly2"));
AddLabel(showLabels,"Two Back", GlobalColor("weekly3"));

Is this something that could be used for stocks also?

thank you for this... just started to learn ICT concepts recently and have found FVG script on here but i dont think there has been much interest coding ICT scripts for TOS

there are scripts for order blocks also. I would love to see one for liquidity grabs.

 

[FutureTony]

there are scripts for order blocks also. I would love to see one for liquidity grabs.

There are quite a few studies like this Fractal Pivot one that gets you pretty close to liquidity levels. I find them a bit busy for my charts but others may like them.

Is this something that could be used for stocks also?

I would imagine these areas would be responsive in most markets. In general, I treat them as areas of interest where price might reverse. I would not trade them 'blindly' if that makes sense.

 

[Gymini]

there are scripts for order blocks also. I would love to see one for liquidity grabs.

so many concepts... breakers, SSL, BSL, Break of structure Change of character ....geez

 

[tenacity11]

There are quite a few studies like this Fractal Pivot one that gets you pretty close to liquidity levels. I find them a bit busy for my charts but others may like them.

TY..I did also find a script for Liquidity/Premium ranges that I will explore. First order for me is exploring NWOG and NDOG as to whether they will work with SPY..

I would imagine these areas would be responsive in most markets. In general, I treat them as areas of interest where price might reverse. I would not trade them 'blindly' if that makes sense.

Absolutely does make sense and I've got them on my charts now and watching.

so many concepts... breakers, SSL, BSL, Break of structure Change of character ....geez

there are a lot of concepts for sure but I am a stock trader so I'm relating what appears to be most relevant to that venue. ICT did say that the concepts relate to everything...

 

[netarchitech]

For those whom might be interested, some good information on ICT Smart Money Concepts courtesy of The Prop Trader...

 

[DonDeivit]

For those that follow the ICT community, there has been a lot of discussion on the gap that forms when globex trading opens up on Sunday (NWOG). This concept is very similar to something I had already been using so I reworded that to create an indicator that displays the last 3 gaps for your trading pleasure:

A few caveats. This indicator relies on pulling data from your charts. If you want the last 3 weeks of gaps, I suggest having at least 15 days of data on the chart. I like to keep my charts clean so the default is to chart these on the right margin (expansion area) of your chart. You need to make sure you have that activated (I have 5 bars in the image above). If you choose to have them drawn across the chart (showOnRight = no), they will only draw for the current day. You will have to change the code if you want it to show across the entire chart. Again, I find that too busy as I am using this for day trading.
You can also toggle to show labels or bubbles that indicate which area is this week, last week, two weeks ago. One last thing - you can change the indicator timeframe from weekly to daily to get new day opening gaps (NDOG) as well. This was mostly a quick and dirty effort, I'm sure there are ways to simplify the code to make it easier to maintain if anyone is up for it...I'm happy with it for now.

# Global Color setup
# Created by @tony_futures inspired by ICT concept
DefineGlobalColor("weekly", Color.DARK_ORANGE);
DefineGlobalColor("weekly2", CreateColor(136, 93, 100));
DefineGlobalColor("weekly3", COLOR.PLUM);

#Calculate the gaps and the midpoints
input aggregationPeriod = AggregationPeriod.WEEK;
def weeklyClose = close(period = aggregationPeriod);
def weeklyOpen = open(period = aggregationPeriod);
def weeklyChange = weeklyClose != weeklyClose[1];
def prevWeeklyClose = if weeklyChange then Round(weeklyClose[1],2) else prevWeeklyClose[1];
def newWeekOpen = if weeklyChange then Round(weeklyOpen,2) else newWeekOpen[1];
def gapUp = newWeekOpen > prevWeeklyClose;
def halfAmount = AbsValue(newWeekOpen - prevWeeklyClose) / 2;
def halfGap = if gapUp then (prevWeeklyClose + halfAmount) else (newWeekOpen + halfAmount);
def oneBackClose = if weeklyChange then prevWeeklyClose[1] else oneBackClose[1];
def oneBackOpen = if weeklyChange then newWeekOpen[1] else oneBackOpen[1];
def twoBackClose = if weeklyChange then oneBackClose[1] else twoBackClose[1];
def twoBackOpen = if weeklyChange then oneBackOpen[1] else twoBackOpen[1];
def halfAmount2 = AbsValue(oneBackOpen - oneBackClose) / 2;
def gapUp2 = oneBackOpen > oneBackClose;
def halfGap2 = if gapUp2 then (oneBackClose + halfAmount2) else (oneBackOpen + halfAmount2);
def halfAmount3 = AbsValue(twoBackOpen - twoBackClose) / 2;
def gapUp3 = twoBackOpen > twoBackClose;
def halfGap3 = if gapUp3 then (twoBackClose + halfAmount3) else (twoBackOpen + halfAmount3);

input plotLines = yes;
def Today = GetLastDay() == GetDay();
input showOnRight = yes;
def exp = if showOnRight then IsNaN(close[1]) else yes;

plot week1 = if exp and Today and plotLines then prevWeeklyClose else Double.NaN;
week1.setDefaultColor(GlobalColor("weekly"));
week1.setLineWeight(2);
week1.hideBubble();

plot week2 = if exp and Today and plotLines then newWeekOpen else Double.NaN;
week2.setDefaultColor(GlobalColor("weekly"));
week2.setLineWeight(2);
week2.hideBubble();

plot week3 = if exp and Today and plotLines then oneBackClose else Double.NaN;
week3.setDefaultColor(GlobalColor("weekly2"));
week3.setLineWeight(2);
week3.hideBubble();

plot week4 = if exp and Today and plotLines then oneBackOpen else Double.NaN;
week4.setDefaultColor(GlobalColor("weekly2"));
week4.setLineWeight(2);
week4.hideBubble();

plot week5 = if exp and Today and plotLines then twoBackClose else Double.NaN;
week5.setDefaultColor(GlobalColor("weekly3"));
week5.setLineWeight(2);
week5.hideBubble();

plot week6 = if exp and Today and plotLines then twoBackOpen else Double.NaN;
week6.setDefaultColor(GlobalColor("weekly3"));
week6.setLineWeight(2);
week6.hideBubble();

plot halfWay = if exp and Today and plotLines then halfGap else Double.NaN;
halfWay.setDefaultColor(Color.GRAY);
halfWay.hideBubble();

plot halfWay2 = if exp and Today and plotLines then halfGap2 else Double.NaN;
halfWay2.setDefaultColor(Color.GRAY);
halfWay2.hideBubble();

plot halfWay3 = if exp and Today and plotLines then halfGap3 else Double.NaN;
halfWay3.setDefaultColor(Color.GRAY);
halfWay3.hideBubble();

input showBubbles = no;
AddChartBubble(showBubbles and exp and !exp[1], if gapUp then week1 else week2,"Current",GlobalColor("weekly"),no);
AddChartBubble(showBubbles and exp and !exp[1], if gapUp2 then week3 else week4,"Previous",GlobalColor("weekly2"),no);
AddChartBubble(showBubbles and exp and !exp[1], if gapUp3 then week5 else week6,"Two Back",GlobalColor("weekly3"),no);
input showLabels = no;
AddLabel(showLabels,"Current", GlobalColor("weekly"));
AddLabel(showLabels,"Previous", GlobalColor("weekly2"));
AddLabel(showLabels,"Two Back", GlobalColor("weekly3"));

This is a beauty: clean, simple and helps to save time plotting the zones of interest. I have a question, is there any chance to increase the number of NWOGs? I would like to have at least the last 5 instead of 3. I tried asking ChatGPT to edit it and of course it didn't work lol. I'm loving this study, thanks for sharing it.

TY..I did also find a script for Liquidity/Premium ranges that I will explore. First order for me is exploring NWOG and NDOG as to whether they will work with SPY..

Would you mind sharing it? I'd like to take a look to it

 

[tenacity11]

This is a beauty: clean, simple and helps to save time plotting the zones of interest. I have a question, is there any chance to increase the number of NWOGs? I would like to have at least the last 5 instead of 3. I tried asking ChatGPT to edit it and of course it didn't work lol. I'm loving this study, thanks for sharing it.


Would you mind sharing it? I'd like to take a look to it

https://usethinkscript.com/threads/expected-liquidity-range-for-thinkorswim.14058/

I've also found Volume Imbalances to be very helpful

I actually love seeing others working with ICT. I've traded a lot of things through the decades but this is the best and the simplest and is based on pure price action which is the real story.

 

[DonDeivit]

It's all good..I actually love seeing others working with ICT. I've traded a lot of things through the decades but this is the best and the simplest and is based on pure price action which is the real story.

Same here. Is unbelievable how you can anticipate the movements and know were the price is targeting even before it starts. Confusing and veeeery hard to follow at the beginning but once you get it, it's totally priceless. Can't stop learning from him.

 

[tenacity11]

Same here. Is unbelievable how you can anticipate the movements and know were the price is targeting even before it starts. Confusing and veeeery hard to follow at the beginning but once you get it, it's totally priceless. Can't stop learning from him.

Are you trading futures or something else? My challenge was seeing if what he said was true about being able to use the concepts in all markets and it is totally true. Today was an awesome day as flippy as it was..I caught a Judas swing which also had a volume imbalance..

 

[DonDeivit]

Are you trading futures or something else? My challenge was seeing if what he said was true about being able to use the concepts in all markets and it is totally true. Today was an awesome day as flippy as it was..I caught a Judas swing which also had a volume imbalance..

I trade SPY options watching /ES. Not the best technique but is the best I can do as I'm overseas and TD Ameritrade doesn't margin me.
I did the same, I'm very skeptic, I trust NO ONE in this business, is full of scammers and false FURUs so I wanted to see if he was real and he just convinced me. Pure price action, naked charts, no magic indicators, just time and price; not even volume.

 

[tenacity11]

I trade SPY options watching /ES. Not the best technique but is the best I can do as I'm overseas and TD Ameritrade doesn't margin me.
I did the same, I'm very skeptic, I trust NO ONE in this business, is full of scammers and false FURUs so I wanted to see if he was real and he just convinced me. Pure price action, naked charts, no magic indicators, just time and price; not even volume.

Best in your trading. Today was super interesting and even ICT said one of his 3 hardest days. For me it was super interesting and glad I was able to follow it all the way.

 

[Kitchasap]

Best in your trading. Today was super interesting and even ICT said one of his 3 hardest days. For me it was super interesting and glad I was able to follow it all the way.

Are you part of his course or learning from youtube.

 

[tenacity11]

Are you part of his course or learning from youtube.

I am learning from the mentorship on you tube and follow on Twitter. Since I already came with a lot of knowledge and had to empty my head and start from scratch with blank charts. Price action I was aware of but definitely not how he utilizes it and that opened a whole new world. It's great to not have to use lagging indicators and oscillators any longer..

 

[DonDeivit]

Best in your trading. Today was super interesting and even ICT said one of his 3 hardest days. For me it was super interesting and glad I was able to follow it all the way.

The best for you too. It was challenging, I enjoyed it a lot. We'll see how it unwraps tomorrow...

 

[Kitchasap]

I am learning from the mentorship on you tube and follow on Twitter. Since I already came with a lot of knowledge and had to empty my head and start from scratch with blank charts. Price action I was aware of but definitely not how he utilizes it and that opened a whole new world. It's great to not have to use lagging indicators and oscillators any longer..

Thank you for your inputs!