ICT Key Levels

The ICT Key Levels indicator identifies and highlights significant price levels such as session opens and historical highs/lows to help traders spot potential market reversals or trend continuations.

Usage

The ICT Key Levels tool is designed for traders who follow Inner Circle Trader (ICT) concepts, specifically focusing on liquidity and time-based institutional levels. It plots various key levels on the chart to assist in framing the market's "Power of 3" (Accumulation, Manipulation, Distribution) across different timeframes.

Time-Based Open Levels

• Midnight Open (00:00 EST): Used to determine the daily bias. Price often returns to this level to grab liquidity before making its true daily move.
• NYSE Open (09:30 EST): A period of high volatility where price often targets liquidity from the London session or Midnight Open.
• Week/Month/Quarter Open: These levels act as the starting point for larger timeframe candles, useful for identifying whether the current price is in a premium or discount relative to the opening range.

Historical Highs and Lows

• Previous Day High/Low (PDH/PDL): Common areas for "stop hunts" where liquidity rests.
• Previous Week/Month High/Low: Significant for swing traders to identify broader market cycles and major liquidity pools.

Details

The script utilizes specialized types and methods to track price action across multiple timeframes. It calculates the high, low, and equilibrium (EQ) points of previous sessions and dynamically updates them as new candles form. The tool also handles label positioning to ensure that overlapping price levels remain legible on the chart.

A core component of the implementation is the time-zone adjustment (America/New_York), ensuring that the Midnight and NYSE opens are accurate regardless of the user's local time setting.

Settings

Key Levels

• Midnight Open: Toggle the visibility, line style, and color for the 00:00 EST opening price.
• NY Open: Toggle the visibility, line style, and color for the 09:30 EST NYSE opening price.
• Week/Month/Quarter Open: Options to display the opening prices for longer-term trading cycles.

Previous X High/Low

• Previous Day/Week/Month: Toggle the high and low lines for these periods.
• EQ: Toggle the "Equilibrium" (50% level) for the previous day, week, or month ranges.
• Line Styles & Colors: Individual customization for each timeframe's visual representation.

FAQ

How do I use the Equilibrium (EQ) levels?

The EQ level represents the midpoint of a previous range. In ICT concepts, price above the EQ is considered at a "Premium," while price below is at a "Discount," helping traders decide whether to look for sells or buys.

Why don't the Daily levels show up on my Daily chart?

To prevent clutter and redundant information, historical levels (like Previous Day High) are programmed to only show on intraday timeframes lower than the level itself.

How can I access ICT Key Levels?

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