ICT Friday's Asian Range

The ICT Friday's Asian Range indicator identifies and projects the Friday Asian session price action to outline potential draws on liquidity for the upcoming trading week. By utilizing standard deviation projections from the Friday Asian session, the tool helps traders identify high-probability reversal or retracement levels when used in conjunction with higher timeframe arrays.

Usage

The script is specifically designed for the 5-minute and 15-minute timeframes and will not function on other periods. It identifies the Asian Range between 7:00 PM and Midnight New York Time. For this specific indicator, it focuses on the Friday range (which occurs on Thursday evening NY time).

Traders can use the projected standard deviation levels as targets or points of interest. When price reaches a standard deviation level that aligns with a higher timeframe ICT PD Array, it is considered a high-probability zone for market reactions.

The indicator visualizes two distinct ranges:

• Body Range: Based on the highest and lowest candle bodies within the session.
• Wick Range: Based on the absolute highest and lowest prices (wicks) within the session.

Details

The Asian Range serves as a foundational "anchor" for weekly price action in ICT methodology. This script automates the plotting of this range and calculates up to five standard deviations above and below both the body and wick ranges. These projections serve as objective mathematical extensions of the initial daily volatility, often marking the extremes of weekly expansion.

Settings

General

• Historical Sessions: Determines the number of previous Friday Asian sessions to display on the chart.

Asian Range (Body)

• Box: Sets the color and transparency for the body range area.
• Line: Sets the color for the body range boundary lines.
• Line Style: Choice of Dotted, Dashed, or Solid lines.
• Width: Adjusts the thickness of the body range lines.

Asian Range (Wick)

• Box: Sets the color and transparency for the wick range area.
• Line: Sets the color for the wick range boundary lines.
• Line Style: Choice of Dotted, Dashed, or Solid lines.
• Width: Adjusts the thickness of the wick range lines.

Alerts

• Body Alert Toggle: Enables alerts when price crosses a specific body standard deviation.
• +/- Stdev (Body): Selects which body standard deviation level (1B-5B) triggers the alert.
• Wick Alert Toggle: Enables alerts when price crosses a specific wick standard deviation.
• +/- Stdev (Wick): Selects which wick standard deviation level (1W-5W) triggers the alert.
• Alert on Range Breakout: Triggers an alert when price crosses the immediate session high or low wicks.

FAQ

How do I access ICT Friday's Asian Range?

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

Why does the indicator show an error on my chart?

This indicator is hardcoded to work only on the 5-minute and 15-minute timeframes. If you apply it to any other timeframe, a runtime error will appear.

Which session time does the indicator use?

The indicator uses the New York (America/New_York) timezone, specifically monitoring the window from 19:00 to 00:00.