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itradesize /\ Model x RTH Gap
Updated
I’m happy to announce my model and sharing it with you as an indicator.
About the model
The model is based on a range from 18:00 until 1:30. If you are keen you probably know that it's something that based on a bit of Daye's Theory. As Daily Q4 is from 18:00 until 0:00 and I've added a 90's Q1 to it as well that's why it ended up at 1:30.
It's an accumulation range and where we are looking for some opportunities above or below it when the algo is trying to fake the traders as the high and the low of the range are both important zones for liquidity pools. This model works on almost every pair but I've been mostly focusing on indices, especially on ES, NQ, and EUR/USD.
Do not trade before 1:30 AM and do not trade this model after 6:00 AM. So any tradable setup must be valid until 6:00 AM.
*All the mentioned times are based on America/NewYork timezone.
A simple sell setup
∆ If it takes the high of the model, then look for short opportunities.
∆ The best reliable scenario is when a high is taken while retracing back to an HTF PD Array so it will end up in a failure swing, Judas swing, you name it.
∆ When a high is taken you should wait for a market structure shift then it should give a nice displacement where it should retrace.
∆ The imbalance after the shift can be on every timeframe, based on your trade idea.
∆ If there are more imbalances, your decision on which to go with (as if there is a BPR, Breaker, OB, etc.. - can change the view of an FVG).
The same story goes for a buy setup.
∆ The first target is always the EQ of the model's range.
∆ The second target could be liquidity inside the EQ and the other side of the model (optional).
∆ The third target is the other side of the model.
∆ You can always leave a runner there if you eyeing some levels outside the model.
Additional information
∆ You can use silver bullet range as an extra confirmation when you looking for the actual displacement.
∆ An RTH range is also added to the indicator (starts drawing at 9:30 when the futures market opens) as it can be used to trade in the NY session and it is a must-have thing when trading indices.
∆ The colors of every label are switched automatically based on your chart's coloring.
Release Notes
- Chart fix.Release Notes
What's new?
- More customization and features.
- Added the ability to show only today's annotations.
- I have improved the ORG/RTH range gap feature, with faster loading speed and precise calculations. Additionally, I added STD levels up to +/- 4 based on the ORG/RTH Range.
- In my experimental features, I have introduced 0.5, 1 STD level to my model, which can be used for possible reversal or expansion points. I have also added the possibility to display the expected manipulation or expansion box.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.