We are proud to present you our most powerful indicator named Smart Money ICT IDR DR Concepts ever made until today...
To use this Indicator you need to know the basis rules of Smart Money Concepts and ICT IDR DR
Defining Range DR and Implied Defining Range IDR for regular Session and overnight Session
This script is showing the IDR and DR for the regular trading session and for the overnight session based on the rules from the creator of the DR / IDR concept.
It works for all major Forex Pairs, BTC , ETH and the US Equity indices. This concept is based on rules and has a 88% probability to be correct.
It should be applied in the 5 Min. Timeframe.
The timings for the RDR are from 09.30 - 10.30 am New York local time.
The timings for the ODR are from 03.00 - 04.00 am New York local time.
1. If price in the 5 Min timeframe closes above the DR high after 10.30 am or 04.00 am then the DR low will be with 80 percent probability the low of the trading session. This is called confirmation.
2. If price in the 5 Min timeframe closes below the DR low after 10.30 am or 04.00 am then the DR high will be with 80 percent probability the high of the trading session. This is called confirmation.
3. If price closes above the IDR high after 10.30 am or 04.00 am it is an early indication that the low of the DR will be the low of the day and vice versa.
You can combine the IDR DR with Smart Money Concepts, (included in this indicator) to have more confident into your trades
For a Long position after a CHoCH or a BOS always wait the price to retrace below the 0.5 Fibs are who is a discount zone.
For a short position after a CHoCH or a BOS always wait for the price to retrace above the 0.5 Fibs area who is the premium zone
You can also use the volume profile to see where are the buyers and sellers in real time (included in this indicator)
You will also find are famous FVG,(Fair Value Gaps) and VI ( Volume Imbalance) or OG ,(Open Gaps)
We recommend strongly to use the FVG to find the best OB who is the lowest bearish candle before the Bullish FVG for a Bullish Order Block and the highest Bullish candle before a Bearish FVG for a Bearish Order Blcok.
To finish we have included a MTF Trend direction and panel who will help you to see on your current TF the direction of the market on a higher TF, this table also have support and resistance on chart with Multi Time Frame.
Indicator plots weekdays and killzones of the most important trading sessions.
The times of each killzone come from the education material of Inner Circle Trader.
Asia killzone: 00:00 - 05:00
London open killzone: 07:00 - 10:00
New York killzone: 12:00 - 14:00
London close killzone: 15:00 - 17:00
CME Group Open: 00:00 - 1:00
CBDR: 16:00 - 20:00
Flout: 16:00 - 00:00
Tradingview account timescale/setting UTC-5 NY Times.
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