Summary of ICT Daily Bias Algo with 90% Accuracy - Tradingview Indicator
The video delves into the ICT Daily Bias Algo with 90% accuracy, utilizing a Tradingview indicator for trading strategies. The presenter elaborates on combining the bias algorithm with a free Tradingview indicator to pinpoint high-probability entries and targets, particularly focusing on the new week opening Gap as a key element. It is emphasized to wait for price action to reach the new week opening Gap before making trading decisions to align with the overall market bias.
Furthermore, the strategy involves analyzing price movements in relation to new week opening gaps, anticipating price movements based on whether price returns to or stays above these gaps. The presenter underlines the significance of trading setups within the "Kill Zone" and aligning with the market's bias. Backtesting the strategy over 24 years shows high profitability, with specific criteria like price levels and time zones for maximizing profits. Consideration of high-impact news events and avoiding trades during those times is also highlighted.
The presenter explains the indicator's use in conjunction with the understanding of the new eing app concept and a daily approach, where the daily approach often aligns with the weekly approach. Specific rules and instructions are employed by the indicator to determine bias, merging daily and weekly analyses. The video concludes by seeking feedback on whether viewers prefer a weekly review or an outlook for future trading using the indicator. Through detailed examples and illustrations, the video aims to equip traders with a comprehensive strategy for identifying high-probability trade setups.
Notable Quotes
— 05:01 — « Remember the expectation for this week is for price to drop into the new week opening Gap and then look for a short setup. »
— 05:40 — « The first valid trade of the week was a buy setup. »
— 06:47 — « The RR for this trade was greater than two, making it a valid setup for entry. »
— 08:26 — « Remember, the bias should switch to bearish once price has touched the new week opening Gap. »
— 09:31 — « Remember, if there is a range in price and the range is balanced, the algorithm will aim for the target. »
Category
Business and Finance