ICT Daily Bias

The ICT Daily Bias indicator helps traders determine the likely market direction for the current day by analyzing previous daily price action. It automatically identifies and projects key levels to forecast whether price is more likely to expand toward the previous day's high or low.

Usage

The Usage section describes how the script can be used to determine market sentiment:

• Bullish Bias: When the previous day's close is above the high of the day before it, the tool signals a bullish bias. Traders may expect price to target the previous day's high.
• Bearish Bias: When the previous day's close is below the low of the day before it, the tool signals a bearish bias. Traders may expect price to target the previous day's low.
• Ranging Bias: If the previous daily close remains within the range of the day before, the tool indicates a neutral or ranging bias, suggesting no clear directional preference.

The indicator automatically plots horizontal levels representing the previous day's high and low, providing clear visual targets for intraday sessions.

Details

The script utilizes daily timeframe data via the request.security function to ensure accurate calculations regardless of the chart's current resolution. It compares the most recent completed daily candle against the preceding one to establish the bias. Labels are dynamically updated at the start of each new trading day (00:00) to provide the latest bias assessment and expectations for the upcoming session.

Settings

This script currently operates using hardcoded logic based on ICT concepts and does not feature a dedicated user settings menu. The visual outputs are defined as follows:

• Bullish Label: Displayed in green when the daily bias is upward.
• Bearish Label: Displayed in red when the daily bias is downward.
• Neutral Label: Displayed in blue/gray when the market is ranging.
• Levels: Horizontal neutral lines representing the previous session's high and low.

FAQ

How do I interpret the labels on the chart? The labels explicitly state the bias (Bullish, Bearish, or Ranging) and provide a short description of the expected price movement for the current day.

Does this indicator work on all timeframes? Yes, the script is designed to work on intraday timeframes (like 15m or 1h) by pulling daily data, and it also functions on the Daily chart itself.

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