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🧭 Previous Cycle Range [bilal]
Inspired by ICT (Inner Circle Trader) concepts
description made by chatgpt
📝 Overview
The Previous Cycle Range [bilal] indicator is a multi-timeframe tool designed to visualize key market structure levels derived from the previous trading cycle’s range — a concept heavily utilized in ICT-style analysis.
It helps traders identify equilibrium levels, liquidity zones, and potential premium/discount areas based on the prior day (or any chosen period) high and low.
⚙️ Features
Custom Cycle Length: Define your own cycle in minutes (e.g., 1440 = 1 day, 10080 = 1 week).
Previous High/Low: Automatically plots the previous cycle’s high and low levels.
Equilibrium (EQ): Optional 50% midpoint line to highlight the market’s equilibrium.
Quarter Levels: Adds 25% and 75% range lines for refined premium/discount analysis.
Extended Ranges: Optional extended levels (e.g., -100%, +200%) to identify continuation or retracement targets.
Fib Levels (1.272 & 1.618): Adds ICT-style Fibonacci extension levels for confluence zones.
Custom Styling: Full control over colors, line width, label style, and extension distance.
💡 How It Helps
This indicator aligns with ICT principles by making the previous day’s range visible and actionable:
The previous day’s high/low often act as liquidity pools.
The equilibrium (EQ) represents fair value — useful for spotting premium/discount zones.
Quarter levels and Fibonacci extensions add precision when mapping market structure and potential reaction points.
🔍 Example Uses
Identify where price is trading relative to the previous session’s range.
Use EQ and quarter levels to gauge premium vs. discount conditions.
Combine with other ICT-based tools (e.g., PD arrays, dealing ranges, or kill zones) for refined trade setups.
Inspired by ICT (Inner Circle Trader) concepts
description made by chatgpt
📝 Overview
The Previous Cycle Range [bilal] indicator is a multi-timeframe tool designed to visualize key market structure levels derived from the previous trading cycle’s range — a concept heavily utilized in ICT-style analysis.
It helps traders identify equilibrium levels, liquidity zones, and potential premium/discount areas based on the prior day (or any chosen period) high and low.
⚙️ Features
Custom Cycle Length: Define your own cycle in minutes (e.g., 1440 = 1 day, 10080 = 1 week).
Previous High/Low: Automatically plots the previous cycle’s high and low levels.
Equilibrium (EQ): Optional 50% midpoint line to highlight the market’s equilibrium.
Quarter Levels: Adds 25% and 75% range lines for refined premium/discount analysis.
Extended Ranges: Optional extended levels (e.g., -100%, +200%) to identify continuation or retracement targets.
Fib Levels (1.272 & 1.618): Adds ICT-style Fibonacci extension levels for confluence zones.
Custom Styling: Full control over colors, line width, label style, and extension distance.
💡 How It Helps
This indicator aligns with ICT principles by making the previous day’s range visible and actionable:
The previous day’s high/low often act as liquidity pools.
The equilibrium (EQ) represents fair value — useful for spotting premium/discount zones.
Quarter levels and Fibonacci extensions add precision when mapping market structure and potential reaction points.
🔍 Example Uses
Identify where price is trading relative to the previous session’s range.
Use EQ and quarter levels to gauge premium vs. discount conditions.
Combine with other ICT-based tools (e.g., PD arrays, dealing ranges, or kill zones) for refined trade setups.
Nota Keluaran
small fixSkrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.