ICT Unicorn

The ICT Unicorn indicator automates the identification of the Inner Circle Trader (ICT) "Unicorn" strategy by detecting overlapping Breaker Blocks and Fair Value Gaps (FVG) to provide high-probability entry signals.

Usage

The ICT Unicorn entry model identifies specific market structures where a Fair Value Gap overlaps with a Breaker Block of the same direction. This confluence serves as a robust confirmation for potential trend continuations or reversals.

• Entry Signals: A buy signal is triggered when a bullish FVG overlaps with a bullish Breaker Block. Conversely, a sell signal occurs when a bearish FVG overlaps with a bearish Breaker Block.
• Retracement Entry: If the "Require Retracement" setting is enabled, the script waits for the price to return and touch the FVG area after the initial overlap before issuing the entry alert.
• Exit Management: The tool automatically calculates and plots Take-Profit (TP) and Stop-Loss (SL) levels upon entry based on the selected method (Unicorn, Dynamic, or Fixed).
• Backtesting Dashboard: An on-chart display provides real-time statistics on the current ticker’s performance, allowing users to optimize settings for specific assets.

Details

The "Unicorn" setup is a specific ICT concept that leverages the institutional supply/demand shift represented by a Breaker Block and the liquidity imbalance of an FVG. By requiring these two elements to occupy the same price space, the indicator filters out weaker setups.

• Breaker Blocks: Identified based on the Swing Length parameter; these represent failed order blocks that have been breached, turning from resistance to support (or vice versa).
• Fair Value Gaps: Detected using the FVG Detection Sensitivity; these represent price imbalances where the market moved too quickly for efficient trading.

Settings

General Configuration

• FVG Detection Sensitivity: Adjusts the size and frequency of detected gaps (Low to Extreme).
• Swing Length: Determines the lookback period for identifying market structure shifts and breaker blocks.
• Require Retracement: When enabled, delays signals until price retests the zone.
• Show Breaker Blocks / FVGs: Toggles the visibility of the underlying structural components.

TP / SL

• TP / SL Method:
  • Unicorn: Sets SL based on recent swing highs/lows (100 bars) with an offset.
  • Dynamic: Uses Average True Range (ATR) to adjust levels based on current volatility.
  • Fixed: Uses user-defined percentage values for targets.
• Dynamic Risk: Adjusts the ATR multiplier for the Dynamic method to tighten or loosen risk parameters.

Backtesting & Visuals

• Dashboard Settings: Customize the location, background, and visibility of the performance metrics.
• Visual Colors: Modify colors for bullish/bearish breakers and signal labels.

FAQ

How do I access the ICT Unicorn?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I use this on any timeframe?

Yes, the ICT Unicorn strategy is fractal and can be applied to any timeframe, though many traders prefer it for intraday scalping or swing trading.

What do the alerts cover?

The indicator includes built-in alerts for initial Buy/Sell entries, as well as Take-Profit and Stop-Loss triggers.