ICT Time Ranges is a concept around the fact that price likes to show volatility spikes in certain times of the day.
Although there are many other scripts such as that revolve around this concept, the difference between this one and some of the others out there is the fact that this code specifically focuses on the ranges like New York, London, Asia, and ICTs concept behind having a "True Day Range". Also, prior scripts draw horizontal lines to delineate the High and Low of the Day. Although this is useful in some cases, I find it to clutter up the chart too much for my liking, so this script negates any of that and simply prints a box in the parameters given within the settings pop-up. This also allows you the fact of having a shape and letter(s) marker for when a new day starts at 0:00.
With this script, you can enable / disable times of the day for: - London Session - New York Session - London Close Session - Asia Session - "IPDA" True Day
You can also change the times that these sessions will update to, along with the opacity and color that they print to mark out these times / ranges. The same can be said with the "Day of Week" markers, which can be color coded and show different shapes / formats to your liking.
I find that putting the Session boxes opacity to 7-8% and the day of week markers to 20% is best as this makes them visible enough to see while also keeping it easy on your eyes to analyze your charts.
Overall, this script was based around specific concepts I liked from other individuals' scripts such as @BryceWH and @AvniPiro , but that are tweaked to what I personally find as most beneficial. To see others scripts like this one, you can search for "ICT Killzones" in the public script library!
Hello what is the default time settings of this indicator .please reply is it new york?
DivineRapture
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@Ani671842, Yes, it is based off of NY time (EST). If you are using this on a chart that is not based off of EST then you'll have to deduct anywhere from 1-4 hours from each session time to make it print at the correct location. It all depends on what Time Zone your market is based off of, which you can see in the "Symbol Info" tab.
sachindraheshan
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Good
fract
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Great stuff
chesly
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what is IPDA and CBDR means in the script? can you explain
DivineRapture
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@chesly, IPDA and CBDR are concepts taught by "Inner Circle Trader". I would recommend looking up each concept in ICTs YouTube channel search bar as he's the pioneer for them. He'd explain it much better than I can here :)