Previous Cycle Range [bilal]

21시간 전

🧭 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.

18시간 전

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