OPEN-SOURCE SCRIPT
OTE optimal trade entry (ICT); visible chart only: Dynamic
Updated
-simple tool based on ICT free YouTube material of many years.
-Highlights a box showing Optimal Trade Entry (OTE): 61.8% - 78.6% retracement
-Auto shifts depending on Bull or Bear move on chart.
--If visible chart is Bullish (low then high): shows OTE box 61.8-78.6% retracement down from the high
--If visible chart is Bearish (high then low): shows OTE box 61.8-78.6% retracement up from the low
-Thanks the use of PineCoders Visible Chart Library, and some of the example code there
-Highlights a box showing Optimal Trade Entry (OTE): 61.8% - 78.6% retracement
-Auto shifts depending on Bull or Bear move on chart.
--If visible chart is Bullish (low then high): shows OTE box 61.8-78.6% retracement down from the high
--If visible chart is Bearish (high then low): shows OTE box 61.8-78.6% retracement up from the low
-Thanks the use of PineCoders Visible Chart Library, and some of the example code there
Release Notes
Added color formatting optionsRelease Notes
removed redundant code; made some explanatory commentsRelease Notes
removed redundant variables for Bar, volume and LabelRelease Notes
-corrected small error in Fib number (inverse of 78.6 is 21.4 not 23.6)-added more Fib levels to play around with (default toggled off)
Release Notes
-added option to plot two user input Fib Extensions (projected Fib extensions) for cases where price might fully reverse and reach beyond the high / low-added user toggle show/hide labels for Fib Extensions
Release Notes
fixed issue with fib extension labelsRelease Notes
-Added option to flip/invert Fib projections (above range or below range)-tweaked code for Extension labels to always display positive numbers
Release Notes
(removed unrelated drawings from displayed chart)Release Notes
~Added user choice of Bodies or wicks (i.e. draw the high-low fib range from body high/low or from wick high/low; default is wicks)~Removed Library dependency and put all the required functions directly into the script
Release Notes
Corrected default Fib extension levelsRelease Notes
Revised this to call from a custom library to reduce code lengthRelease Notes
-Added more Fib Extensions: total of 6 optional fib extensions nowRelease Notes
-corrected Fib titles in settings boxRelease Notes
-Added option to toggle on/off Fib Retracement price labels. Default is off
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Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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