Discussion in 'Indicators and Charting' started by Hopiplaka, May 14, 2014.
Re: Central Bank Dealers Yearly Range Indicator
The weekly/monthly/yearly are just the CBDR concept but onto a higher timeframe. It's something I'm experimenting with, no real info by ICT (apart from the first week during NFP set up for the month).
But look at the attached screenshot for the Weekly range on USDx. Pretty accurate, is it not?
Looks like a nice MMS setting up as well...
Version 1.12 is now able to show the dealer range:
CBDR v1.12: https://dl.dropboxusercontent.com/u/307602/fx_indicators/_ICT_CBDR.ex4
There is also a new option to show the daily open line.
You have a choice between:
[*]Do not show the daily open line
[*]Daily open line is 0 GMT
[*]Daily open line is 5 GMT
The daily open line is drawn like the STD lines, so taking the GMT gap and end time into account
Thank you for sharing the CDR indicators. It really helps in understanding and applying ICT's CDR concept with much ease. :thumbsup:
In one of ICT's unrecorded live session, he demonstrated an indi that can paint across when price action gets to an earlier identified level. For example, the Order Block concept, one would apply the indi to an earlier identified OB. When price moved back to within the OB range, the indi would paint across to that candle. Please see pic1 below for better explanation.
ICT would like to see if it is possible to apply this feature to the CDR indi. I think this would be very challenging and would clutter the chart. My thought is that the painting across should follow where the current price action is, any prior paintings should disappear automatically as soon as price action is out of range. Again, please see pic2 below for explanation. Hope you can understand what I am trying to say here. BTW I don't have MT4 coding experience, so I am not sure whether this is doable. For me, I think your current CDR indi is good enough to do the job, but an indi for the OB would top it!
Central Bank Dealers Range Indicator v1.13
Version 1.13 of the CBDR indicator was released.
Just a small update:
- now you are able to choose GMT+4 for the daily open lines, for those who want to be inline with DST settings.
Also for those of you who are using the MONTHLY indicator: be aware that the monthly range is calculated during the first week of the month (i.e. the week where we have the NFP data).
According to ICT: only day trades during this week, so focus on the daily and weekly indicators, and yearly for general direction. As of next wek, you are allowed to use the monthly again
Thanks for the feedback!
I was already playing with the idea of creating an indicator that outlines the OB.
And also predict the OTE zones and reflection zones.
But is is a challenging task to say the least Thanks for the screenshot, they certainly explain very well what need to be accomplished.
I think the OB indicator should be used with the weekly indicator, I think the weekly combined with the OB will identify the best OSOK entry. After that, you can use the CBDR on 5MIN for the optimal entry.
It will require some time and a lot of iterations I'm afraid, but doable nonetheless.
Btw, that "Day Open" line is quite useful. Thanks for that one.
Thanks to Foreigner for the request
Glad you find it useful though!
Some new releases. You now have the possibility to draw the open line as well for the weekly, monthly and yearly indicators.
Also - for the monthly indicator: there is now a warning message top left which will tell you that we are in the NFP week. The monthly computes the ranges during this week, so the monthly should not be used during week 1 of a new month. Daytrades only (so stick with the weekly and daily, yearly for general direction).
Here you go:
CBDR WEEKLY v1.03: https://dl.dropboxusercontent.com/u/307602/fx_indicators/_ICT_CBDR_WEEKLY.ex4
CBDR MONTHLY v1.03: https://dl.dropboxusercontent.com/u/307602/fx_indicators/_ICT_CBDR_MONTHLY.ex4
CBDR YEARLY v1.01 : https://dl.dropboxusercontent.com/u/307602/fx_indicators/_ICT_CBDR_YEARLY.ex4
No v1.14 of the Daily CDR?
I've been getting used to changing indicator every few days, lol.
Unfortunately I didn't receive enough requests to change something
The order block/OTE integration is a tad more difficult to implement
"Unfortunately I didn't receive enough requests to change something "
On the Daily CDR could you have it so it only displays on H1 and below?
Unfortunately you can only select 1 timeframe using the 'Limit the visibility to this timeframe' setting.
The indicator does not use indicator buffers, but draws trend lines.
Therefor it ignores the settings in the visualisation tab page. I'm still looking for a way to get around this and select the values from this tab page.
Ok sqa, you asked for it
Now you can really set all options for LO.
Over the years, I've seen a lot of time zone, such as sweet spot 07:30-8:30 GMT.
There was even an old video where he stacked the LO different timeframes:
Now you have an option to choose what you like, see screenshot
CBDR v1.14: https://dl.dropboxusercontent.com/u/307602/fx_indicators/_ICT_CBDR.ex4
link doesnt seem to work.
Fixed, the tag was incorrectly set
bnj: bnj: bnj: THIS INDICATOR IS FANTASTIC, THANKS FOR YOUR VALUED TIME TO CREATE IT :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup: :thumbsup:
Thanks, glad you like it
A workaround is to set the Object's properties to
background = true
and then set the objects color = none for the Periods that the line is not to be displayed
The line will then be invisible to the User on those timeframes.
Thanks for the feedback.
The problem I face is that I want to get the timeframe values from the Visualisation tab page (of the indicator's properties), rather than adding yet another option.
This seems to be working with indicator_buffers only, not with custom drawn trendlines.
I can try to draw a custom buffer_indicator with color none though, and check if I can access a visibility property of some sort.
Thanks for the suggestion.
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